â€œChildren are a heritage from the Lordâ€¦ Blessed is the man whose quiver is full of them.â€ Psalm 127: 3, 5
Nothing has brought me greater happiness in life than my wife and children. I can understand why so many of my clients want to spend so much of their retirement years traveling and visiting their families.
For most people in retirement, a monthly mortgage payment takes the majority of their fixed monthly income. What a frustrating situation this can be. Finally, all the time in the world but not enough money to make the most of it.
Â Enjoying retirement and visiting family is another primary reason people do Reverse Mortgages. With a Reverse Mortgage, they eliminate their monthly mortgage payment and are left with only their basic property expenses each year like taxes and insurance. Imagine what a difference this could make for you or someone you love. What if you could completely cut out half of your monthly expenses?
One of my favorite clients of all time was in this situation. She had eight children she had raised mostly on her own after a divorce many years earlier. When she entered retirement she was stuck with a fixed income of $30,000 a year for the rest of her life. But her 30-year fixed mortgage accounted for $15,000 a year in payments.
Her children and grandchildren were the most important thing in her life, but they were scattered in many different places. Visits were expensive and participating in special events was nearly impossible.Â
With a Reverse Mortgage Lanette freed up $15,000 a year in expenses. This gave her the ability to travel frequently, participate in special events, go on vacations with her kids, and buy Christmas presents for her many children and grandchildren.
No amount of money left as an inheritance can match the legacy of time and memories created by loving parents who can be present.
If you would like the ability to leave a more meaningful legacy by spending time with your children, a Reverse Mortgage may be the perfect solution. Imagine what you could do if you could eliminate your largest expenses every month. Give us a call and letâ€™s talk about your options.
President – Reverse Mortgage Specialist
Heritage Reverse Mortgage
Heritage NMLS #1497455 Trevorâ€™s NMLS #: 267962
1060 South Main Street Bldg. A Suite 101B
St George Utah 84770