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Scenario Examples
Reverse Mortgage SCENARIO EXAMPLE #1
Hank, Age 81 Alpharetta, Georgia
The Challenge:
"My father had Alzheimer's for the last two years of his life. Even though my wife and I live in the same town as he did, we have two kids in high school and work full-time jobs. Needless to say, it was impossible for us to care for him the way he deserved."
The Solution:
"Lacking the kind of money it takes for round-the-clock, in-home care, we looked into a Reverse Mortgage as a way to pay for the expenses. With the expert help of georgiareverseloans.com in securing a Reverse Mortgage, we were able to get my dad in a more solid financial situation that allowed us to keep him at home as long as possible using his home's equity. He would have been happy to know that the equity he built in his house helped us help him."
Reverse Mortgage SCENARIO EXAMPLE #2
Harriet, Age 69 Madison, Georgia
The Challenge:
The Challenge:
"My mother is very active, full of energy, and just adores my kids. She had always talked about taking them to some really great places across the country during their summer break from school. Living on a fixed income with a monthly mortgage payment, she just didn't have the means to do that and it always saddened her."
The Solution:
"After discussing the decision of getting a Reverse Mortgage with all three of her own adult children, she decided to go through with it to allow her to live life to the fullest and do things with her grandchildren like she had always dreamed of. The extra cash flow from her Reverse Mortgage has made it easy for her to travel with my kids a whole month every summer. I love that she's so actively involved with my kids while she's still in great health. It is so nice seeing her this happy. My husband and I love the break and the kids have the best time." Thank you georgiareverseloans.com!
Reverse Mortgage SCENARIO EXAMPLE #3
Geneva and Walter, Ages 70 & 73 Lawrenceville, Georgia
The Challenge:
The Challenge:
"My parents had lived in their house for 36 years and it needed a lot of maintenance work and repairs. They just didn't have the money to pay for all the work and we are now paying for college tuition for our two children and we are not in a positiion to help them. We looked into a home equity line of credit for the solution.
The Solution:
The Solution:
"We discussed their situation as a family and we all decided that taking out a home equity line of credit to pay for everything would not be the best way to go because they didn't need to take on a monthly payment. My dad's health is not the best and we don't know what medical expenses might show up later. With the help of georgiareverseloans.com, we all decided that a Reverse Mortgage would be the best overall solution. The great thing about it was that they could access a lot of cash now and not have to take on any monthly payments to pay it all back. In fact, no money is owed until both of them no longer live there. Wow, what a great blessing this has been. Their house now looks brand new and will be so much easier to sell whenever that time comes."
Reverse Mortgage SCENARIO EXAMPLE #4
Dottie, Age 74 Woodstock, Georgia
The Challenge:
The Challenge:
"My mom has rheumatoid arthritis and is really having a difficult time climbing stairs these days. She needs a one level ranch house with everything on the first floor for easy access. Otherwise, she is very independent and loves to do things with all her friends. My dad is deceased, but the 2-story house has been paid off for a long time now."
The Solution:
"My husband is in real estate and knew about a senior community being developed that is only 4 miles from her current house. We found out about the HUD Reverse for Purchase program where she can actually buy a brand new home with the greatest amenities you can imagine-things she has never had before. It took a year but we finally sold her 2-story house and she has now purchased one of the beautiful homes in this nearby senior community with a Reverse Mortgage and has no monthly mortgage payments whatsoever. She sees and keeps up with her old friends and has now made about a dozen more.
It is like being at a summer camp year-round. She is having so much fun and the place is perfect for her physical needs as well. The amazing part about it was that she only paid half of the purchase price out of her own money. The proceeds from the Reverse Purchase paid for the rest. She is living like a queen. What a great idea!" Georgiareverseloans.com was awesome throughout the entire process and made it simple.
The Solution:
"My husband is in real estate and knew about a senior community being developed that is only 4 miles from her current house. We found out about the HUD Reverse for Purchase program where she can actually buy a brand new home with the greatest amenities you can imagine-things she has never had before. It took a year but we finally sold her 2-story house and she has now purchased one of the beautiful homes in this nearby senior community with a Reverse Mortgage and has no monthly mortgage payments whatsoever. She sees and keeps up with her old friends and has now made about a dozen more.
It is like being at a summer camp year-round. She is having so much fun and the place is perfect for her physical needs as well. The amazing part about it was that she only paid half of the purchase price out of her own money. The proceeds from the Reverse Purchase paid for the rest. She is living like a queen. What a great idea!" Georgiareverseloans.com was awesome throughout the entire process and made it simple.
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