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You can now visit my website on your smartphone and view it as a mobile site.  Check it out at www.reversemortgagesspecialist.com

Top 10 reasons a Banker should refer to a Reverse Mortgage

Top Ten Reasons to                                                     

Refer Customers                                                              

To a Reverse Mortgage                                              

Age 62+                                                                                     

Own a home                                                                   

1.  Ongoing Overdrafts                                              

2.  Cashing in CD’s                                                      

3.  Seeking a loan with                                                  

     with not enough income                                              

4.  Illness and medical bills                                             

5.  Need additional income                                      

6.  Downsizing from residence                             

7.. Want home equity loan                                               

      but won’t qualify                                                           

8.  Want a better lifestyle                                          

9.  Need home modifications                                           

10. Having a hard time paying                                      

      mortgage payments                                                       

Call:  Diane Quitmeyer                                         

314-220-3918

reversemortgagesspecialist.com                                 

Reverse mortgages for Aging in Place

With 6 million people today who are over 85 years old that will grow to over 20 millions in the next twenty years, reverse mortgages will become a legitimate device to provide capital to help meet daily expenses.  Studies have shown that Americans are going to be Aging in Place.   So for the duration of their retirement years housing options and services are going to have to adapt to meet those needs.
Most people don't realize that a mere 5% of older American will live in nursing homes or assisted living communities therefor there will be a strong push for services that allow people to remain in their homes.
Families need to understand the benefits of the reverse mortgage to help family members age in place and help the senior understand the pros and cons of the program.  Most children have no interest in inheriting their childhood home.  So saving it for the children is no longer valid.
Unfortunately, many people are not comfortable with the products.  There has been some financial abuses having to do with the housing downturn.  The industry is going to have to learn to present it as a user-friendly, prudent and responsible way to proceed.
Some considerations in helping people age in place is to have the home modified, make adaptations to existing homes, new home construction,  products and services.
So while only 5% of Americans will live in a nursing home or assisted living facility we as a society need to educate and help people learn about utilizing their home as an asset  to age in place.  The home remains in the borrowers name and will always pass to the heirs in the end.
www.reversemortgagesspecialist.com
314-220-3918

The Road Scholar Mission

When I worked for #Oasis I developed the first Road Scholar program for them.  We hosted a program on Jazz that included lectures from local jazz radio personalities, trips to museums and finally a couple of days at the Jazz festival downtown.  It was a great experience and included everything participants needed while they were here.  I love this program,so if you or someone you know loves learning new things and not afraid to travel, I encourage you to check out their website.

How To Strengthen Feet and Ankles

Good exercise for ankles to help prevent falls.

Aging Parents and their Money

Do you know how to talk to your aging parents about their money?

It's always about independence, something seniors do not want to lose.  So when do you approach this topic? Have you seen the bills piling up on their table?  Have they fallen prey to telephone or internet scams?  This is a delicate subject and most people do not want interference in their financial affairs.  Here are some rules that  you need to follow.

1.  Don't adopt an attitude that you know it all.  

2.  Don't say "you should" - it will put them on the defensive

3.  Invite a third party expert who they will respect

The following are ideas that will help ease into the conversation:

1.  "Mom and/or Dad", I recently read a great article about how to simplify your finances as you get
      older.  Would you like to talk about it. (Be a helper not an overseer)

2.  "Have you heard about this scam, I heard about it and thought I should warn you and your friends."
      (be straightforward)

3.  "How would you like to save some money on your phone bill?" Let's take a look at that.
      (Utilize small actions that succeed)

4.   "Do you ever receive invitations to free-lunch retirement seminars?"  If so I would like to go with you.
      (Don't discourage attendance simply stand beside them)

5.  "You wouldn't have surgery without a surgeon."  The same goes for your finances.  Let's find a financial
      advisor to help you.  (Seniors respond better to stories and metaphors that gives meaning to facts
www.reversemortgagesspecialist.com
314-556-4100

      and linear data)

Aging in Place and Reverse Mortgages

Aging in Place! 

Have you noticed that stairs are getting steeper?  Groceries are heavier and more expensive.  And, everything is farther away. Yesterday I walked to the corner and I was dumbfounded to discover how long our street has become!  This extension work was apparently done at night!! Very sneaky stuff.  And, you know, people are less considerate now, especially the youngsters. They speak in whispers all the time! If you ask them to speak up they just keep repeating themselves, endlessly mouthing the same silent message until they're red in the face! What do they think I am, a lip reader

On the other hand, people my own age are so much older than I am. I ran into an old friend the other day, and she has aged so much that she didn't even recognize me.

I got to thinking about the poor dear while I was combing my hair this morning, and in doing so, I glanced at my own reflection........ Well, REALLY NOW - even mirrors are not made the way they used to be!

I tried to climb into the tub this morning and my legs must have shrunk overnight. My leg just wouldn’t lift high enough to make it over the side.  Oh well – there’s always tomorrow.

So, I called my kids to see if they would lend me money to get me a hearing aid so I could hear them when they spoke, get my house remolded so I could get into the tub or just pay off my mortgage so I could have extra money for the casino.  We were suddenly disconnected and I haven’t heard from the sense.

Determined to take matters into my own hands I asked several people if they knew what I could do.  One of them recommended maybe it’s time to check into the old folks home.  Really the Old Folk home – That’s for old folks – not me.  I want to stay in my own home.

My best friend told me she knew of someone that could help me.  So she gave me the name of a reverse mortgage specialist. I called her and couldn’t believe what I heard.  She said should she would help me get rid of my mortgage payments, get my home remolded so I could get into the tub, pay for hearing aids and even have a line of credit that grew by 4% per year for expenses. 

You know what they say about things that are to good to be true.  I wasn’t falling for that nonsense.  So I checked it out. 

I asked many of my friends and they said – OH NO – that’s a bad deal.  I asked them WHY?  Funny no one really knew why. 

So after further investigation I discovered this is an FHA loan designed by the government to help people “Age in Place”. 

   Aging in Place – I had never heard of that – but it sounded great to me.  I can use my own money to stay in my own home.  No asking my kids for money or going to the old folks home. 

Best of all – the house remains in my name and is passed on to those kids that aren’t speaking to me.  The money I receive is “TAX FREE”.

If I decide to downsize to a smaller residence with less maintenance like a Villa, I can do a REVERSE TO PURCHASE.  I can get a $200,000 home by bringing $100,000 from the sale of my home.  That frees up $100,000 to do with whatever I choose. 

I’ll show all you guys – I’m going to do a reverse mortgage and stay in my home.  Be careful if you try to sneak up on me because now I will be able to hear you coming.

www.reversemortgagesspecialist.com
314-556-4100