I was discussing with a very knowledgeable friend about what he would do if he had a kazillion dollars. He listed off the trips, the cars, the houses. “I wouldn’t need a reverse mortgage then!” he exclaimed.
Really? I actually think you might still really want one. Let me explain, imagine first that you have a tasty apple pie staring at you, warm from the oven, it’s cinnamon-y sweet aroma wafting over you. Now slice up the pie into however many slices you choose. Take one slice of that pie and put it on your plate. Then cut up your slice into a number of smaller pieces. Now smell it, think about whether ice cream or whip cream would be better, then put each piece of your slice back into the pie plate with the rest of the pie! This is home equity. The dream and allure of something delightful but pretty ineffective if it’s going to stay in the pie tin. You can put your piece of pie back in the tin (making mortgage payments) or savor each tasty morsel available to you on your “plate”.
Your home equity you’ve carefully crafted and cared for is your pie. What does it do for you sitting in place? Sure it looks good but at some point you’re not going to be able to access it any longer (how long does an apple pie last out on the counter?) Wouldn’t you rather enjoy the fruits of your labor? Perhaps you dream about traveling on that cruise, safari, Australia or Europe that you thought unattainable. Maybe you’re the type of person who prefers to make investments or dreams of funding a legacy that can have a positive impact on your family or community? There isn’t a limit as to what you can do with YOUR equity when you access it via a Reverse Mortgage.
Want to learn more about our Reverse Mortgage programs? Please complete our no obligation form on our Home Page and we’ll contact you promptly.