Have the Cake and Eat It Too...
This is a true story shared by our client Jerry Garner, who specializes in Reverse Mortgages:
"A retired couple in late-60s purchased a home for $250k in Summerville to be closer to their children and grandkids. They moved here from NC and initially thought they needed to sell their NC home first OR take $250k from their retirement savings (this concerned their financial advisor about liquidity) to pay cash for an ideal home for retirement.
Long story short… based on their ages, this senior couple was able to put $125,000 (50%) cash down and moved in with a Reverse Mortgage for Purchase and have no payments.
Now when their NC home has sold, they can pay-off the reverse mortgage OR since they have no monthly payment, they can put the proceeds back into their retirement accounts."
Wish to buy your IDEAL retirement home AND keep enough savings in your account? Give us a call today on 843-900-0155, or fill out this form and we'll contact you...
Please contact us if you have any questions or comments.