reverse mortgage dilemma

Reverse Mortgage Dilemma

The reverse mortgage delimma is solvable.  What’s difficult is coming to grips with how did we get to be old enough to retire but so insecure about our financial ability to retire comfortably?

Certainly there are enough TV ads trying to sell us all sorts of things to be able to afford retirement.

There are the “Gold” sales folks trying to get your hard earned savings and IRAs converted into gold – what could go wrong here?  They will even send you a safe to store your gold.

There’s also the “Annuity” people trying to get your savings invested with them for a promise of a stream of income in the future.  These insurance contracts can be pretty confusing and the costs are rarely shown to you.

Then if you were able to scrimp and save and buy a home,  made all your mortgage payments and paid property taxes and upkeep…yep the Reverse Mortgage sales guy on TV thinks a reverse mortgage is a great way to pave the way to your retirement.  If only the loan scheme was understandable.

Maybe it’s just me, but there is no shortage of folks trying to sell you stuff.  What there is a shortage of are people willing to take the time to listen to your concerns and educate you about their program.

We find that after spending time educating how a reverse mortgage works and detailing what it does today and into the future, the understanding gap gets solved.  What remains to be solved? Is the product right for you.

We are often asked to give our opinion about the reverse being a good decision or not.  We tell it like it is. If it makes sense we say so.  If it doesn’t make sense we say that too.  We also offer sensible alternatives – sometimes downsizing is the right decision for your unique situation.

In the end, you are the one who has to live with the final decision.  Will your retirment be better off with the Gold purchase, the Annuity or the Reverse Mortgage -its up to you to decide.