One possible option not mentioned
I have not heard anyone mention the use of a Reverse Mortgage to stop foreclosure. Of course, you need to be at least 62 (there is a new reverse mortgage at age ...
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Services for Real Estate Pros |
RAINER 745 |
| Robert Hopkins | ||
| location_on Temple Terrace, FL — Griffin Financial Mortgage | ||
| insert_link http://www.griffinloans.com | ||
| web Robert Hopkins's (frederick11) Blog | ||
Get to Know Robert Hopkins
One of the reasons that I chose to enter the reverse mortgage field was my initial experience came from none other than my own mother. As I had been living in Western North Carolina, because of the distance I wasn't entirely aware of how her life was going financially. I knew things were tight because I would send her a little money here and there as asked. But something happened to make me totally aware of the situation: I got separated from the "woman of my life" I won't go down that road as after the hurricane of whatever year closed it for repairs and the authorities decided a new road would be more cost-efficient and we are both on our way down new highways of life.
Anyway, back to my mom's situation. The family asked me to return to Tampa and help my mom with her financial and health situation as she is 82 and they kind said-it's your turn. I have to give her all the credit in the world as to how she managed her finances because I have never been good at balancing because I have always had excess to a certain degree. Anyway, she had about 1,100 coming in as a widower with a 400. mortgage and about 1,101 going out. What she would do is get a credit card and use that as needed for emergencies, as well as the family would help, as she has three sister within a mile which helps unbelievably. After her reverse mortgage, her bills lowered to 700 a month and her income, she took out a 500 a month tenure with paying off the mortgage and 5,000 to get rid of the credit cards, and her income rose to 1,600. It was then I realized the benefits of reverse mortgages. For the first time in years she paid the tab for the occasional lunch with her sisters-in cash.
Certifications
At this time in my career, I am going to specialize in helping seniors that either are in early foreclosure or about to face foreclosure. I know that for many they might not even be aware that they can save their most precious asset-their home. I welcome any help in the form of ideas and ways to reach this market.
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I am just entering the reverse mortgage business and , after extensive research, have associated myself with Griffin Financial. I hope to be able to help many seniors with their financial future .