Your Family is better in person

The video above is of my youngest daughter Adalyn. She’s laughing at my daughter Hallie who was out of shot dropping a ball repeatedly. Nobody in our family can make Addie laugh as Hallie does. This is one of my favorite videos. I’ve watched it dozens of times but I’m sad I wasn’t there to experience it in person. As a video, it can never compare to how much I love hearing Addie laugh in real life.

This week is Thanksgiving and the official kick-off of the Holiday season. As families grow it becomes harder and harder to get together even for big events like Thanksgiving and Christmas. I originally wrote this article months ago. But as my thoughts turn to my family this holiday season and the absence of my parents who have both passed away I felt the topic is worth revisiting.

We live in an incredible time where I can follow and stay in touch with all my family members. Whether they live on the other side of St George, up in Northern Utah, or all the way in Kenya where my nephew is on a service mission. Being connected like this with those we love is a huge blessing but the fact always remains that family is better in person.

How a Reverse Mortgage can help

I am a Reverse Mortgage Specialist. I bring up Reverse Mortgages in this article because I’ve seen how they can be used to provide freedom, flexibility, and time with the people we love most. The point is that although it’s nice that we can stay connected with our family electronically and hear a child’s laugh on Facebook, that medium will never be as great as experiencing those moments in person.

Reverse Mortgages give people financial freedom to live better, travel more, and create more memories with the people they love. I’m only 34 and I’ve lost both of my parents. I can tell you from experience that no amount of money left as an inheritance can compensate for the precious memories. Memories of fishing, going to Disneyland or just sitting around the kitchen table fighting about politics.

Is a Reverse Mortgage right for you?

If you want to spend more time with your family during retirement, then you should learn more about a HECM Reverse Mortgage. By making the most of the equity in your home with a Reverse Mortgage, you will reduce your financial burden and increase your freedom to spend more time with the people that matter most to you.

Some of my clients have put off doing a Reverse Mortgage because they want to leave the home to their kids. Unfortunately, they had the false belief that by doing a Reverse they were giving the home to the bank. This is simply not true. With a Reverse Mortgage, you own the home. When you pass away the home will transfer to your estate just as it will with a standard mortgage.

What’s the difference between a Standard and Reverse Mortgage?

The only real difference between a standard mortgage and a HECM Reverse Mortgage is that with a standard mortgage you make a monthly payment. This pays for your interest and a little of the balance every month. With a Reverse Mortgage, you don’t have a monthly payment. Therefore, the interest is added to the back of the loan. When you pass away your kids can refinance out of the Reverse Mortgage. Then they keep the home and remaining equity. However, if they don’t want the home they can sell it and keep the remaining equity.

Most of the people I’ve worked within St George, Cedar City, and throughout Utah are using a HECM Reverse Mortgage to:

  • Eliminate a Monthly mortgage payment
  • Consolidate debt
  • Access equity for spending money
  • Ultimately set up a strategy that will protect and extend other assets after retiring

Keep in mind that with a Reverse Mortgage you can do all of these things. But as the homeowner, you are still responsible to pay for basic home expenses such as taxes, insurance, and HOAs.

I can say from experience that nothing can compete with the legacy of leaving cherished memories to your children. So prioritize the value of your time over the value of your inheritance and leave more time to your loved ones.

If you or someone you love could live better with a HECM Reverse Mortgage please contact me for more information.

Trevor Carlson

Reverse Mortgage Specialist

Heritage Reverse Mortgage


Heritage NMLS #1497455 Trevor?s NMLS #: 267962

1060 South Main Street 101B

St George Utah 84770