Mortgage Trust

How was a 63-year-old able to afford a $150,000 woodworking studio while burning through retirement savings? Let me tell you about my friend Jim. Jim had just over a million dollars saved but was drawing it down at such a high rate that he would have run out of money by age 78. He'd been talking about building an amazing woodworking man cave for years, but knew it was a pipe dream. His wife wouldn't let him do it either. Jim and his wife had: ??$1M+ in savings (depleting at 7% annually) ??A paid-off home worth ~$750K ??$146K in various debts costing $2,100 monthly Jim knew something had to change. I drew up a reverse mortgage proposal for Jim and his wife Elaine. It showed how they could gain access to $341,000 of their equity in an open line of credit. This was a game changer for their finances. It enabled them to: ? Eliminate $146K in debts ? Reduce their retirement withdrawal rate ? Fund Jim’s dream workshop with all the tools ? Have $50K in accessible equity for future needs Now Jim's basement studio has everything - bandsaw, table saw, drill press, the works! ??? The math is simple: by eliminating $2,100 in monthly payments and dropping from a 7% withdrawal rate to under 4%, their retirement savings will last DECADES longer. Sometimes the solution isn't cutting back on dreams – it's finding the right financial tool to make them possible. Check out the full video on YouTube (link in the comments) ___________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #retirementplanning #homeequity #reversemortgage #financialfreedom #retirementincome #moneytips #financialplanning #mortgage

This retired couple was about to make a $750,000 mistake with their home sale... until their mortgage broker showed them a strategy to upgrade to a $1.2mm property with zero payments! ?? Meet Cynthia and Stan, 70-year-olds from Tacoma whose 5-bedroom house from the 50s was too big for them after their 5 kids moved out. ???????? They owned it free and clear - worth $800,000. ?? But instead of downgrading, they used a reverse mortgage to: ? Move to a $1.2M brand-new duplex in a trendy neighborhood ? Keep $44,000 cash from their home sale ? Collect $2,000 monthly rent from tenants next door ? Live mortgage-payment-free for LIFE This is what thoughtful retirement planning looks like! ?? The right mortgage strategy doesn't just maintain your lifestyle. It can dramatically IMPROVE it. ?? __________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #RetirementPlanning #ReverseMortgage #FinancialFreedom #RetirementIncome #HomeEquity #Retirement

Do you believe you have no options but to sell your home if you’re running out of savings in retirement? ?? Think again! Picture this:? You sell your home and buy a $500,000 condo. Now, your home equity is used for the condo. You have $250,000 to live on for 5 years. When you pass, your heirs inherit the $500,000 condo. Sounds simple, right? But look at the downsides: 1. You've had to move out of your house. ?? 2. Your heirs won't be able to inherit the family home. ?? You may not have been aware of a smarter way to handle your home equity without giving up your cherished family home. A reverse mortgage might be a better option for you in this case. Don't let misconceptions steer your retirement planning. Be informed, stay in your home, and keep your options open for your heirs. ?????????? Watch the video to learn more! ???? - I’ll link to it in the comments. __________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #RetirementPlanning #ReverseMortgage #HomeEquity #FinancialFreedom

?? Traditional vs. Reverse Mortgage—Which Wins? Too many retirees stick with traditional mortgages, sending money to the bank instead of enjoying their hard-earned retirement. Let’s compare: ?? Option 1: Refinance and keep paying monthly: Refinance at 62 to a $2,000/month mortgage. By 80, your house is paid off. But your savings are drained, and your home may need expensive updates. ?? Option 2: No More Mortgage: A reverse mortgage eliminates your payment. You put $24,000/year back in your pocket. By 80, you’ve traveled, renovated your home, and even helped your grandkids through college. ?? The Math Over 18 Years: ? Traditional Mortgage: $432,000 paid to the bank ? Reverse Mortgage: $432,000 freed up for your future __________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? Helping retirees make smarter financial choices for 18 years ?? I help people use their home equity to finance their retirement ?? Book a free call via the link in my profile This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #retirementplanning #homeequity #reversemortgage #financialfreedom #financialplanning #mortgage #retirement

People are thinking about home equity in retirement the wrong way. ???? They treat it as something sacred. Untouchable. Something to brag about at cocktail parties. ?? But holding on to this mindset keeps you from living a truly rich life. ?? I see it all the time. Retirees with homes mostly paid off, but they’re struggling with cash flow. ?? High credit card bills. ?? Expensive car loans. ?? Limited income. And what do they do? They pour all their energy into refinancing. Taking on a bigger mortgage with higher payments, just to get by. ?? Why? Because they’ve been told that home equity must stay locked away. ?? That leaving a house to their kids is the ultimate financial goal. ?? Here’s the harsh truth: 70% of heirs sell the home right away. ?? It’s not about debt being bad. It’s about understanding how to use your equity wisely. ?? ?? A reverse mortgage isn’t just for people in financial trouble. It’s a tool. A strategy. ?? It can help you upgrade your home, not downsize. ?? ?? It can help you stay in your home longer with in-home care. ?? ?? It can maximize what you leave behind for your heirs. ?? The real question is: Are you making decisions based on outdated beliefs? ?? ??If you’re thinking about home equity and retirement, let’s talk. ________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #RetirementPlanning #HomeEquity #ReverseMortgage #FinancialFreedom

Interested in Starting a Bank? Job Reports and Cuts, Home?Values

Meet Cynthia and Stan. They are 70 years old and living in Tacoma, Washington. ???? Their five-bedroom home, great when the five kids lived there, is too much to maintain now - especially since it was built in the 50s and is starting to fall apart. ??? They own it free and clear, and a sale will net them $800,000. They want to downsize but worry about missing their Tacoma friends. ?? Their mortgage broker suggests buying a duplex, triplex, or fourplex. Intriguing, right? ?? They like the new, trendy neighborhoods where duplexes are built within the last ten years. But these homes are starting at $1.2 million. ?? Can this work?? Yes!? Their broker assures them they can purchase a duplex for $1.2 million with the money from their sale. ????? Reverse mortgages = opportunity to upgrade your living situation! ??? Same neighborhood, new lifestyle. ?? Watch the video to learn more! ???? ____________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor.

The median retirement savings for people aged 55-64 is $185,000, and nearly half of U.S. households have no retirement savings whatsoever. What do you do if that's you? ?? Consider these options: 1?? Keep working and earning an income. 2?? Use your home equity to fund your retirement. ?? Let’s dive into the numbers: ? Age: 65 ? 401(k): $200,000 ? House value: $750,000 (paid off) ? Monthly need: $5,000 Social Security: ? $2,900/month starting now ??$4,500/month at age 70 401(k): ? Using 4% rule ??$8,000/year ??$677/month ?? Shortfall: ??$1,433/month ? $17,200/year ?? Option 1: Continue working: ? Find a part-time job paying $17,200/year to cover the shortfall. ?? Option 2: Reverse Mortgage: ??Withdraw $52,000/year from your home equity for 5 years. At age 70, claim $4,500/month Social Security. Combine this with your 401(k) to get $5,167/month. ?? Result: No need for a part-time job. More income than needed. Peace of mind and stability in retirement. Leverage your home equity to gain a secure, stable, and healthy retirement. ___________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor.

What Down Payment Assistance Programs Does Oregon?Offer?

Are you house rich ??but cash poor ??in retirement? Too many retirees cling to outdated ideas about home equity, limiting their financial freedom when they need it most. If you think the best way to leave an inheritance is keeping your home untouched—think again. ?70% of heirs sell inherited homes immediately. So why struggle financially just to preserve an asset your kids will likely convert to cash anyway?????♂? Here are 6 false myths that might be shrinking your retirement lifestyle and what you should consider instead. ?? Swipe through the carousel to see if you're holding onto any of these outdated beliefs. ________________________________ ???? I'm Ian Murdock (NMLS 248407) ?? In the last 18 years, I've helped hundreds with mortgage financing ?? I help people use their home equity to finance their retirement ?? Visit the link in my profile to book a free call or to sign up for my newsletter This information does not constitute investment, loan, legal or tax advice and should not be used as a substitute for the advice of a professional legal, investment, mortgage or tax advisor. #retirementplanning #homeequity #reversemortgage #financialfreedom #retirementincome #moneytips #financialplanning #mortgage #retirement