Success story:

To recap my previous story, I have been assisting an elderly client, who decided that they wanted to begin the process of a reserve mortgage. However, they had too much debt that their reserve mortgage amount would not be sufficient to pay off past debt.

I visited them a few times, and understood their valuable situation. To help them, I tried to negotiate with their first and second lenders, to see if they would be willing to provide some credits to cover the debt. After some back and forth, the second lender was willing to provide some credits. However, the first lender was unwilling to cooperate, so even with credit from the second lender, the debt they owe still exceeds the amount of the reserve mortgage loan.

Awfully enough, the first lender threatened to foreclose my client’s home because of the overdue mortgage payments. I’d hate to see this elder couple become homeless. I decided to use my commission to help close the gap. After receiving the reverse mortgage, my clients are in a better financial shape; since they no longer have to make payments on their mortgage, property tax or homeowner insurance. They can now finally enjoy the rest of their lives without the fear of losing their home or stressing to make ends meet.

After months of works on this reverse mortgage, I made very little money. My pay won’t justify the time I have put into this. However, knowing I have helped someone really in need, it is all rewarding.