What about Mom and Dad?

When thinking of a mortgage, it's not common to also start thinking of what it is going to take to care for Mom and Dad as they age.

Currently, 10,000 people a day are turning 65.  Many of these people are not planning for what it will take, financially, to provide for long-term care when the time comes?

Most people don't want to look at it, but down the road far enough each of us will need help with our daily activities as we age.  Additionally, if you suffer any health issues the amount and type of care will increase, and so will the cost of that care.

One solution to this problem is a Reverse Mortgage.  What is a Reverse Mortgage?

A conventional mortgage requires that you pay the mortgage interest and a portion of the loan balance every month.

With a Reverse Mortgage there is no loan payment due for the life of the loan. Interest due is added to the loan balance monthly, and accrues for as long as you remain in your home.  Why is this a benefit?  Because you will no longer have a mortgage payment for the rest of your life, as long as you remain in your home. This gives you the freedom to stay in your home, afford in-home care or other expenses.

There are many factors that make a Reverse Mortgage a huge benefit for borrowers over 62 years of age.

If you have questions, contact me for a no-cost consultation.

Angela Knight
SecurityNational Mortgage
510-205-6655