The Magic of Reverse Mortgages

A single woman on a fixed income needs to buy out her partner. There is not enough money to do so. She qualifies for about 25% of the funds needed to buy out the partner using a traditional mortgage. A reverse mortgage is over $100k short to pay off the partner on her current home. She sent me an email, "Thanks Jim, I'm selling the home." To which I responded, "Have you considered using a reverse mortgage to buy a new home?" She didn't know it was possible! She can now sell her existing home and utilizing a reverse mortgage to buy a new home, increasing her purchasing power by over 50%. The magic of reverse mortgages, a loan whose time has come.