Reverse Mortgages for seniors – why am I so passionate?
26 August 2016
People often ask me why am I so passionate about Reverse Mortgages. I guess many Australian seniors are either wary because of the misinformation and misconceptions that still linger in the market, or don’t see how someone can be so passionate about a ‘financial product’.
The reason that I love Reverse Mortgages so much is that I have seen firsthand what they can do for people. I have spoken to, and met with, hundreds of seniors whose lives have literally been changed by a Reverse Mortgage. I think that’s pretty neat.
Am I overstating the impact? Life-changing?
I don’t think so – you just have to look at what our customers use their Reverse Mortgage funds for. The most common use is home renovations and repairs. This not only adds value to their property but improves their living standards and lifestyle. Then there are things like medical expenses which improve health, upgrading motor vehicle to maintain independence - or even ticking off some life-long dreams from their ‘bucket list’. All this while staying in their own home, close to family and friends, and connected to the community they know and love.
Then there are the seniors who struggle to get by on the pension. It’s not easy to pay for insurance, rates, power, home maintenance and groceries. To be clear, we’re not talking about luxuries here – Australian seniors deserve the right to maintain a comfortable lifestyle and not have to worry about whether they can afford a nutritious meal or to turn the heater on in winter.
With a Reverse Mortgage, the amounts borrowed are often relatively modest, but the impact can be transformational.
That is why I am a ‘true believer’ in Reverse Mortgages for seniors. I don’t think there is another financial product out there that has as much power to genuinely change lives people in quite the way a Reverse Mortgage can.
If you would like to see if a Reverse Mortgage is right for you or just to discuss Reverse Mortgages in general please feel free to give me a call – 1300 889 338.