Reverse Mortgages January 12, 2018

Is Your House A Nice House But Not The Right House?

Is Your House A Nice House But Not The Right House?

First a few examples to make my point:
  1. The owners are happy with their home. They have lived in it for decades. They raised their children in it. However the master is upstairs. I’ve had clients that struggled with is this the right house for this and finally after the husband had a stroke they decided that they needed the right house.  We don’t know if climbing to the upstairs bedroom was a factor in the stroke happening. We do know it would have been easier to sell and move prior to the stroke.
  2. The home is modest and paid for. The owners are over 62. They were exposed to the special FHA program for those over 62 and discovered they could buy the home of their dreams and have no mortgage payment. At first it seem too good to be true. Their equity was all that was needed. They could even pull some cash out in the transaction. I used to own a large mortgage company and do understand this program.
  3. I have had about 55 transactions in the last 2+  years for this scenario: downsizing to a lock and leave or as my broker says, low to no maintenance living. These are people whose nice home is now actually not the right home as their is just too much maintenance with the size of home or the difficulty in maintaining it and/or the yard.

Is it time to consider the right home? Is it time to become informed on the options? One of the common things I am told about working with me is that there is no pressure. To me it’s important you do the right thing, find the right home or situation for your wants or needs. OK, give me a call, let’s explore the possibilities. I am good at this. Larry Cragun: 801-923-4735 or 206-618-3724 which also takes text. Email: