Churches have always played a part in taking care of people during hard economic times. Today churches are responsible for feeding and caring for more people than ever.
Churches need to know about the benefits of reverse mortgages for three different reasons:
1) A reverse mortgage can help a senior give to a church now and actually let them manage their donation rather than just blindly giving it to the organization. It is much more fulfilling for the senior and their management helps the money go further than it would otherwise.
2) A reverse mortgage can help seniors stay in their homes. If a senior has taken out a forward mortgage they are always at risk of losing their homes if they cannot make the payments. A reverse mortgage helps them to be secure in that home for the rest of their life.
3) A reverse mortgage can be used for multiple dwelling units (up to a 4 plex). If a church is helping a senior find housing, they should think about leveraging the entitlement of the reverse mortgage for that senior. Get a 4-plex and provide housing for 4 families instead of just one, and pay less than you would pay to buy a single family home.
These opportunities can provide fantastic help for churches. Just call me for additional information on how to use this entitlement to further your churches mission.
bob
bob@az62.com
714-331-1486
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