Friday, May 16, 2014 - Article by: Reverse Mortgage Purchase - California Reverse Mortgage Education -
Your home is a consuming asset. Costs between 4% and 5% annually. Take the time, do the math. These operating expenses include taxes, insurance, maintenance and utilities but not mortgage payments. The deck is stacked against you.
Many seniors find themselves house poor with more assets in home equity than retirement savings. A recent study found only the top 21 percent of households had more retirement savings (401K, IRAs, taxable savings or annuities) than the value of their home. For singles it was only 11 percent of single households having financial assets greater than the value of their home.
Your goal should be a selling your home and moving into a home your wife could afford with a Reverse Mortgage Purchase NOW....Aging in place should not mean aging in your home your wife cant maintain because your family income got cut when you pass and your family now receives ONE SOCIAL CHECK INSTEAD OF TWO.Seniors should be concerned about income security not equity security. Stop holding on to past (home), seniors are living longer and your senior years may be 30-40 year in length. It was Buddha that said WANT NOTHING and Home is where the heart is.....sorry that one was from a Bankruptcy Attorney .
Telemedicine and Medical Alerts will change the world the way transportation and TV did for your parents and grandparents. Take a deep breath and get your head out of sand the way you do with life insurance and mortality. 40% of people in nursing homes dont need to be there .Its not your Daddys America: progress needs change -Deviance breeds Progressive thought.
Deciding to use a reverse mortgage is easy. Deciding on what do when your income gets cut in half by the loss of husbands social security check will be a financial death sentence.
Reverse Mortgage Purchase is the answer. Get together with a great Realtor that can sell your home and be your buying agent for a cut rate price on selling your home because they will be making it back on you buying that smaller new home.
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