Reverse Mortgage Success Stories

Success Story #1

74 year old female, husband died leaving her destitute, she is doing day care to make ends meet. We went to her current lender and negotiated a lower payoff on the existing mortgage. We paid it off with a RM and saved her $1,230/mo for the rest of her life.

Success Story #2

Married couple 80 & 77. Total monthly income of $1,200/mo. Current house payment of $950. We paid off their current loan and gave them 26K cash.

Success Story #3

66 yr old female. Husband died 5 years ago so her income was cut in half. Total income is $1,000/mo. Current house payment was 750/mo!! We paid it off and handed her 33K cash.

Success Story #4

Married couple 63 & 63. Self employed in construction. Basically no income for the last two years. We paid off their 98K mortgage and gave them 9K cash.

Success Story #5

80 yr old female. She has a conservator and the trust fund ran out of money. We gave the trust 192K, which should be enough to take care of her for the rest of her life.

Success Story #6

84 & 84. Husband was in a nursing home and the family was out of money to fund his nursing home care. We gave them 126K.

Success Story #7

65 female. House rich & cash poor. Literally had spent all of her reserves and had no money left to pay her monthly bills. We gave her 106K.

*Be sure to check with your accountant to verify current tax laws.

Note 1: Reverse Mortgage proceeds are based upon the current interest rates at the time the loan closes, the age of the youngest borrower, and the equity in the home. The examples above are based on an interest rate of 6.26%.

Note 2: Borrowers can lock rates in for 60 days from the date of application to the closing. All rates adjust weekly, and the rate for closing is determined by the weekly rate set on Tuesdays of each week (excluding Federal Holidays) and stay valid until the following Monday.