Enjoying retirement with a Reverse Mortgage

As we look to staying warm during the winter season,  I thought I’d share with you a few of the many client stories that have warmed my heart through the years showing where the reverse mortgage made a difference in the life of seniors.

There have been numerous situations where I have done a reverse mortgage and saved a senior’s home from foreclosure.  One in particular had already gone through the sheriff sale.  Working with an attorney we were able to help her buy the home back on the last day.  We had to jump through many hoops to make it happen but the client was able to stay in her home of many years.  She was so appreciative!  It always warms my heart when we can help a senior stay in their home as they desire especially saving the home from foreclosure.

Helen really wanted to stay in her home basically no matter what.  Her husband was in a nursing home and she was having some health issues so initially her family wanted her to move to senior housing.  After talking with them and her social workers I tried to convince Helen to move.  Then I received the call from her family saying Helen really wanted to stay in her home and they wanted me to do the reverse mortgage for her.

It was challenging from the standpoint that Helen had some early dementia and couldn’t remember things unless I wrote the answers to her questions under her question – even though the answers were written in my handouts and in my book, the only way Helen could connect the answer to the question was to have them written together.  I remember spending a day, yes over 8 hours, with Helen to explain the details then another day to do the application and there were numerous phone calls and mailings inbetween.  She had an attorney involved and had set up a power of attorney but Helen was independent enough to want to be involved through the process.  During followup conversations with Helen I found that she did understand the reverse mortgage as a result of my taking so much time with her.

After many conversations with and then with the blessings of her family, social workers, and attorney we did the reverse mortgage for Helen.  She was able to stay in her home until her death about 5 years later.  Through the years I heard from her caregivers on how the reverse mortgage had made a difference for Helen.  When she passed away the family called and asked me to attend her funeral because I had made such a difference in her life.  Helen was one of the most challenging clients for me but it was a good feeling that I was able to help her fulfill her dream of staying in her home and that I had also made a difference for the family.

Lucy needed some extra funds to be able to stay in her home.  She was cutting back on expenses like getting her hair done, cut off her cable TV service, just the little things that can give a person their dignity.  When we did the reverse mortgage for her she was able to receive the services that returned her dignity.  Lucy was a sweet independent woman that I always enjoyed talking with even after the loan was closed.

Fulfilling dream with a Reverse Mortgage

Carol had wanted to see a play in England that was going to end shortly after she had contacted me about doing a reverse mortgage.  We closed her reverse mortgage and it was funded on a Wednesday.  Thursday she was on a plane to London to fulfill her dream and see the last viewing of the play that Saturday.  It gave me great pleasure to be able to help her fulfill her dream.

The reverse mortgage allowed Len to retire so he and Mary could live in their retirement home closer to their children.  At the age of 70 Len was still working many hours and it was difficult for him.  He and Mary owned two homes (one close to work and the 2nd close to their children) and was continuing to work in order to make the mortgage payments.  Doing the reverse mortgage allowed Len to retire because by paying off their current mortgages the mortgage payments were eliminated.  Len and Mary are enjoying their retirement living in the home closest to their children as their primary resident, keeping the 2nd home as their vacation home.  I talk with them several times each year and they are so relieved and thankful for the reverse mortgage.  Their family has also told me the difference I have made in their parent’s life.  This situation too warms my heart because of the difference the reverse mortgage has made in their life.

These are just a few of the stories that have warmed my heart – each and every one of my hundreds of clients have touched me in one way.  I feel blessed to be able to make a difference in the lives of seniors and help them stay in their home with security, independence, dignity and control.

Read some other articles with additional stories at: “ Reverse Mortgages Help Celebrate Independence;” “Reverse Mortgages Finance Home Care;” “Finance Retirement With A Reverse Mortgage;” “Reverse Mortgages Answers Prayers;” and “Know A Senior Who Wants Security, Independence, Dignity And Control?  A Reverse Mortgage May Be the Answer!”

© 2009 Beth Paterson http://bethsreversemortgageblog.wordpress.com 651-762-9648

Author: Bob D Jones
Source: ezinearticles.com

It is within your reach, with just a little effort to raise your score. It’s not as hard as you think to raise credit score. By raising your credit score, you will be in a better position to get credit cards and loans with standard rates. In the following paragraphs, you will find the steps to take to raise your score and get these better rates from lenders and credit card issuers.

Get your, www.myeasypayment.com, credit report: You, www.myeasypayment.

com, need a copy of your credit, www.myeasypayment.com, report so that you can check for any erroneous information that may be harming your FICO score. If any information is wrong, you must contact the credit bureaus immediately, www.myeasypayment.com, to let them know of the error(s) and to find out what is necessary to get the information corrected. There are three primary bureaus this credit report should come from, Equifax, Experian, and TransUnion.

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myeasypayment.com, most likely the,, www.myeasypayment.com, www.myeasypayment.com, other bureaus will too. By removing this invalid information, you have taken the first step to raising your score. Note that once you have notified one of the bureaus, that bureau is required by law to notify the other bureaus.

Keep Old Accounts: It used to be that you were better off closing old accounts. Now the scoring method has changed and this could actually end up lowering your score because this lowers your total available credit.

By lowering your total credit available, it lowers the gap between your total charges and balances
and, www.myeasypayment.com, your total available credit.

This is especially true if you cancel your oldest credit cards since this shortens your credit history. If you want to cancel some of your cards to reduce the risk of identity theft, the good news is that it will only lower your score a little bit.

Pay your bills in a timely fashion:, www.myeasypayment.com, Your payment record is weighted to give your recent payment record more influence than you older payment record.

At 35% of your overall credit score, this is one of the main factors credit bureaus consider when they calculate your score.

By missing only one payment, you can lower your score by up to 100 points – enough to knock you out of contention for a good score. So pay your bills, www.myeasypayment.com, on time. This is the, www.myeasypayment, www.myeasypayment.com, .com, most important way to, www.myeasypayment.com, raise your score.
Reduce Your Debt: The difference between your total credit available from all your credit cards, www.

myeasypayment.com, combined is the number the credit bureaus use when calculating this part of your credit score. They do this because loan officers, www.myeasypayment.com, like to see a big difference between the total credit available and the amount you owe. Surprisingly, lenders don’t care whether you carry a balance or pay off your credit card balances every month. When the credit card companies report your balance every month, they don’t include whether this is a carried balance or a balance, www.

myeasypayment.com, that has only been, www.myeasypayment.com, charged this month, www.myeasypayment.com, .
So the only way to raise your score is to charge less each month and to reduce the balances that you carry over from month to month.

Avoid Bankruptcy: Bankruptcy, www.myeasypayment.com, is the absolute worst action you can take for your FICO score. It can lower your score by as much as 200 points, www.myeasypayment.com, . A bankruptcy remains on your record for ten years. This makes you appear to be a higher risk borrower and lenders will charge you higher interest rates as long as this stays on your record.

Bankruptcy should be your last resort. You should first go to a reputable credit counselor to help handle your bills. This will give you the opportunity to actually raise your score over time rather than destroying your score for years to come with a bankruptcy.

Read more of my Finance Articles and Real Estate Articles

OK. Maybe not the worst ever, but close. A recent article in Forbes tells seniors to “avoid reverse mortgages.” Why? I don’t know. In spite of the alarmist headline, the author really never gets around to saying why reverse mortgages are so bad. The author and the “advisors” she quotes do try to make a case that reverse mortgages are expensive therefore they should be automatically shunned.

First, reverse mortgages can be expensive. Fees can add up pretty quickly. But is that any reason for a senior to sell their house to their kids or borrow money from friends as the article suggests?  What senior do you know that wants to remain dependent on friends and family for their survival?

One advisor quoted claims that proceeds from a reverse mortgage will negatively affect Medicare. That is false. Reverse mortgage proceeds do not affect Medicare. However it is  possible that proceeds from a reverse mortgage could affect Medicaid or other benefits like food stamp programs. It’s highly irresponsible for Forbes to allow this kind of reporting.

It’s interesting that Forbes didn’t interview any seniors that have used reverse mortgages to solve their liquidity issues and/or to remain independent.

Read it here:

Author: Richard Lowe
Source: articlesbase.com

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FBI Releases Warning about Scareware

Original release date: December 14, 2009 at 9:04 am Last revised: December 14, 2009 at 9:04 am

The Federal Bureau of Investigation (FBI) has released a warning to alert users about an ongoing threat involving pop-up security messages that appear on the Internet. These pop-up messages may contain seemingly legitimate antivirus software. Users who click on these pop-up messages to purchase and install the bogus software may become infected with malicious code or to become victims of a phishing attack.

US-CERT encourages users and administrators to do the following to help mitigate the risks:
* Review the FBI Press Release titled Pop-Up Security Warnings Pose
Threats.
* Install antivirus software, and keep the signature files up to
date.
* Use caution when entering personal and financial information
online.
* Install software applications from only trusted sources. Read the Full Article Click Here

To Protect Yourself go to Http://timrobbinstv.com