A Success Story:
How Jim & Phyllis Clark Used a Reverse Mortgage
to Maximize Their
Retirement Resources and Live the Life of Their Dreams
Jim and Phyllis Clark worked hard all
their lives, lived within their means and saved for retirement. What they
didn't count on was how far they'd have to stretch their retirement
dollars. With each passing month it became harder and harder to pay their
bills and have enough left over to live as they'd intended. They just
couldn't see a way out.
Fortunately they heard a neighbor talking about his new
reverse mortgage and decided to learn more about it for themselves.
After careful research they decided that a reverse mortgage might be just what
they needed to create the livestyle they'd always dreamed of.
Jim and Phyllis contacted a Reverse Mortgage Specialist and set an appointment to go over all of their options. They were pleasantly surprised to learn that it was easy to qualify because there are no income or credit requirements.
The Reverse Mortgage Specialist took
their application and then reviewed the different loan programs with them. They looked
at receiving a cash lump sum, a set monthly payment,
a line of credit, or a combination or those options. As part of the
process of getting a reverse mortgage, they met with an independent counselor who helped
them review their personal situation and choose the best option for them. 
After paying off what remained of their existing mortgage they were able to free up a significant amount of money each month. Jim reports: "Because of how our Reverse Mortgage Specialist and the counselor had walked through everything so carefully with us, we knew we were going to be taken care of. We moved forward with confidence, and the first thing we did was take that vacation we'd always dreamed of!"
Perhaps the greatest thing about our reverse mortgage is the peace of mind it has brought us.
Phyllis was excited to be able to put money aside each month for their three grandchildren. They are still young, but she enjoys knowing that she has started a college fund for each of them. Because she was able to start saving early, the money can be invested and has time to grow.
Jim and Phyllis used to worry about making their house payments, paying for prescriptions and meeting basic expenses. Thanks to their reverse mortgage, they don't have a house payment, and they are free from financial worries. After their regular expenses, they even have a travel fund.
Phyllis sums it up: "Perhaps the greatest thing
about our reverse mortgage is the peace of mind it has brought us. Now
that we've taken our big vacation and started a college fund, we still have
enough to relax and live comfortably, knowing we own our home and stay here as
long as we choose. This is the lifestyle we've always dreamed about!
I can't imagine things any other way."
Contact a Reverse Mortgage Specialist.