Is your Retirement Plan Safe from Bankruptcy?

Bankruptcy

Bankruptcy is designed to allow for a fresh start. It’s meant to help someone in a bad situation get back on top of their finances and start over. But did you know that one in seven people filing Bankruptcy America is over the age of 65?

The problem with bankruptcy after retirement is that starting over is more difficult and prospects for higher income are less.

According to an article by Alex Spanko of Reverse Mortgage Daily, “Since 1991, the rate of Americans aged 65 to 74 filing for bankruptcy has doubled, while the frequency has tripled for those over 75.”

Retirement Planning

Increasingly retired Americans are finding it less possible to stay afloat on a fixed income that does not grow with the cost of living. Likewise, our Retirement plans are usually established when our bodies are still young and healthy. But the vast majority of our medical expenses will come after the age of 65.

Retiring successfully these days requires more options and better planning. A Reverse Mortgage should be part of every serious retirement planning discussion. I’m not saying every retiree should have a Reverse Mortgage, but every retiree should at least understand how a HECM would improve their retirement plan.

I do HECM Reverse Mortgages because for the right person a Reverse Mortgage could mean the difference between financial peace of mind or bankruptcy.  A Reverse Mortgage is life changing for the homeowner who is properly educated. One of the greatest parts about my job is seeing my clients experience a dramatic improvement in their lives because of the services we provide.

How a Reverse Mortgage is Life Changing?

For most of my clients a HECM Reverse Mortgage:

  • Eliminates a mandatory Monthly Mortgage payment
  • Consolidates Debts
  • Establishes a growth line of Credit to be used as a nest egg
  • Provides funds for unexpected Medical Expenses or vacations

The largest asset most of people will ever own is their home and yet too many people will not consider a Reverse Mortgage because of the myths they’ve heard about the old Reverse Mortgage.

If you’re in or nearing retirement, do yourself a big favor and get the facts about the New Reverse Mortgage and how it could be a major advantage in your retirement planning.

I have offices in St George Utah and Las Vegas Nevada. I’m licensed in the states of Utah, Nevada, and Colorado and I generally try to be available to meet my clients in person at one of my offices or in their homes where possible.

If you or someone you love is considering a HECM Reverse Mortgage please give me a call to look at the possibilities.

Trevor Carlson

President – Reverse Mortgage Specialist

Heritage Reverse Mortgage

435-359-9000

www.heritagereversemortgage.com

trevor@heritagehl.com

Heritage NMLS #1497455 Trevor’s NMLS #: 267962

1060 South Main Street Bldg. A Suite 101B

St George Utah 84770