Include home equity in retirement planning

YOU CAN DO A PRIVATE HECM — IN A BUNCH OF THE UNITED STATES with a knowledgeable 12 year veteran of this product located in YUMA, AZ — SO, WHY WOULDN’T YOU DO IT NOW? Nobody would have to tell anybody you did it … and you would be “HAPPY AS A CLAM”WITH YOUR EXTRA MONEY
These are my answer to questions “experts” wrote in a magazine recently about HECMs (reverse mortgage to the uninformed). There seems to be a lot of people ready to smear the REVERSE MORTGAGE. CONSIDERING the value  of a HECM, you have to wonder why, don’t you? A well positioned magazine was left in my office this week after an application signing so I’ll answer the questions they asked, here… (You tell  me if you think I’m wrong about this???)
  • How long do you plan to stay in the house in your Wells Fargo retirement or other retirement planning? How ’bout a better question? How long do you plan to live anywhere? But it’s not a bad question. If your retirement planning includes moving soon, consider a HECM reverse mortgage somewhere else. Use the retirement calculator on this page. Access a qualified veteran loan officer under "Information" tab on the home page to answer your questions.
  • Is there another way to meet your money needs? No. The equity in your house is yours to spend, isn’t it? — you can use it and never repay it. What’s not to like?
  • Will your home suit you as you age? Probably not. Use some of the money you’ve been paying on your mortgage and improve it as you age — add grab bars, ramps, improved technical gadgets, eat out more often. Give some to the church, kids, poor people, ???
  • Can you live there if something happens to your  spouse? (They really did ask this one, believe it or not). How will you live anywhere else if something happens to your spouse? Life gets harder anywhere, doesn’t it? Make sure the spouse is listed as a borrower and the issues are reduced. Plan now to stick it out if you can.
  • IF YOU CAN’T — SELL THE HOUSE AND PAY OFF THE MORTGAGE ANYTIME YOU WISH. What’s not to like? Together you will solve the aging issues better if you have a HECM.
  • People who ask you take take another round at a forward mortgage with payments don’t always have your best interest. Buckle up folks, aging is hard, but a HECM makes it easier, not harder — and if you still have equity, you can use it and thrive in retirement.
  •  Thank you.
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