Robert (Bob) Heckler with Cornerstone Mortgage gave us some clear definitions of Reverse Mortgages; what it is, why you would choose one, and what's the best scenario for getting one, and when it is not!
Just the other day when researching the topic of reverse mortgages I ran across an interview of a 65 year old widow, her home is paid but wanted extra money to do special things. While I agree it's nice to have extra money for emergencies or the rising cost of health care, the lady interviewed talked about taking a cruise, visiting a friend in another state, taking another 3 week vacation, and getting manicures!
Well, as I expected my conservative nature to be bothered by this spending spree, I asked the Texas Elder Care Reverse Mortgage expert, Robert (Bob) Heckler, his opinion. Of course he too found it extravagant... and said that it's not a good idea to use our nest egg on frivolous expenditures.
Bob has great advice for those of you "thinking" about creating avenues of retirement income if over the age of 62. You have other options. Look at all of them. I'm so impressed with Bob's knowledge, advice, and patience with me (when asking dumb questions), but he took all my questions to heart knowing they are valid.
That's what I like about Bob; he's down to earth and grounded. I really trust his advice. He works with a lot of younger and not so young seniors all over Texas. And watching him talk with them is amazing. His intention is very clear in helping them out and finding the best solution.
Listen to our conversation - I know you'll learn a lot even if you're not in the market for a reverse mortgage.
I'm sure you'll find Bob's information valuable. Please forward this blog newsletter to anyone thinking about a reverse mortgage!
Other things Bob says to consider when evaluating reverse mortgages:
Ten Things To Know About Reverse Mortgages
If you'd like to talk with Bob Heckler, Cornerstone Mortgage, he can be reached at 1-888-268-7481 or visit his information website at ReverseLoanGuide.com.
