If there ever was an opportune time to utilize the benefits of a Reverse Mortgage to counter inflation and the rising costs of just about everything we use in our daily lives, it is now. The costs of goods and services are rising in a vacuum because the cost to transport items is high and workers demand more money to live. The end result is higher and higher costs for necessities and just about everything else we consume.
I am not going to say that everyone can benefit from a Reverse Mortgage. You have to own a home with sufficient home equity and you must be eligible based on tougher guidelines than in the past. I also am not going to imply that a Reverse Mortgage will produce a solution out of thin air. A Reverse Mortgage can help you replace an existing mortgage and create immediate cash flow. The additional monthly cash flow may seem like a solution out of thin air but it’s simply an exchange or swap of a forward mortgage, that requires a monthly payment, to a new Reverse Mortgage that is still a deed of trust secured against your home but never requires a forward mortgage payment. It only requires that you service your own real estate taxes and insurance annually. The end result is that you could easily have thirty plus percent more monthly cash in hand for living than you have today, depending on your specific scenario. Not bad when you’re actually in the eye of the storm of inflation.
We are in an inflationary environment and times like these don’t reverse on a dime. Looking at history, it takes a significant amount of time to work through inflationary periods. During times like these, planning with a Reverse Mortgage can help you create additional cash flow and additional home equity access that would then be available to curtail other higher cost debt. This is often key to a successful strategy. Winning is all about managing your lifestyle through more difficult times. Staying away from high-cost debt, such as credit cards, is an important part of this strategy. A Reverse Mortgage can help you manage in inflationary times like today. If this message resonates with you or even perks your attention just a little bit, I invite you to call me for a free, private consultation. See if adding a Reverse Mortgage can help you endure the current inflation and win.
George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC - Reverse Mortgage Specialists
Programs: Traditional QM (Fannie Mae, Freddie Mac), government insured HECM Reverse Mortgages, and Non-Traditional Non-QM Mortgages commonly referred to as Specialized Forward Mortgages including “Alt-A Investor loans” and DSCR (Debt Service Coverage Ratio) loans up to 85% LTV, both Full doc and No Income-No Employment (No Doc) for the investor community. Our expanded niche products also focus on the more traditional FHA & VA with Lower Score and higher Debt-to-Income Options, Fixed & Variable Jumbo loans, and Private Label Reverse mortgages for higher priced homes. We are also highly focused on specialized loans for the Self-Employed borrowers with our Bank Statement & Asset Dissipation Programs. We are committed to offering a full range of “Non-QM Loans” for expanded qualification, where the banks and large-scale lenders dare to go.