Camping with your family with a new found financial freedom
I have a special place in my heart for Saint George, Utah. Southern Utah has always captivated me with it’s unique beauty and amazing landscape. It’s a blessing to be able to live in such a special place.
I’m writing today because a recent client here in St. George is working on their “new” Reverse Mortgage. They live in Hurricane, Utah (about 15 miles from the city of Saint George) and recently bought the home in cash a couple months ago. They moved all the way from California! They decided Saint George was THE PLACE to retire! I don’t blame them! So when it came time to discuss their financial picture, we got very clear and asked all the right questions to see what their goals were with retirement.
When the topic of their home came up, they were open to seeing how they could use the equity in their home. They didn’t have anyone to leave the house to, and their heirs were relatively well-off financially. The clients had some monthly debt, yet didn’t want to keep paying a creditor every month. By working from a strategic financial angle to maximize their cash flow every month using the equity in their home, yet leave it to be able to grow and maintaing over 50% of their equity, we came up with a great plan to make sure using this Reverse Mortgage product was the right fit for them.
They were able to pay off $70,000 in debt that included a car loan, credit cards, a personal line of credit, some other miscellaneous debt. By doing this, they freed up over $1,600 dollars per month in cash flow and eliminated those other monthly payments! They also were able to put a little extra cash in their bank account AND keep over $130,000 in extra equity they could “tap into” at any time in the future. That equity will remain their’s and they can always sell the home to access that amount. It’s always their equity and home. What a huge blessing to make this happen and keep the home in their name, take advantage of the tax benefits still, and biggest of all, NEVER HAVE TO MAKE A MORTGAGE PAYMENT AGAIN!!!
These clients were so great and it was just a pleasure helping them set up their long-term financial plans for their bountiful and relaxing future! They shouldn’t have to worry about finances any more, and I am honored to have helped make that come together.
Feel free to set up a free initial consultation to review your financial picture and see if this program might be a good fit for you. It’s not for everyone, just like a regular mortgage isn’t best for some people, yet for a lot of folks it can make an immense difference in their life. It’s your Life! Time to Live the Life You Earned!
Give your Saint George Reverse Mortgage Consultant a call at (435) 469-1226! Looking forward to helping you Live The Life You Earned!
