Rates UP Again this week, lower benefit amounts next week!
Welcome to the 6 th edition of the SimpleReverse Marketing Minute! This week, we are continuing our new series called "This is a Reverse Mortgage Customer!" In this new series, we will highlight actual customer scenarios and how the reverse mortgage proved to be a great solution for them. Reverse Scenario: Joanne & Janet are 2 sisters living together. Joanne is 73 years old, Janet is 72 years old; and they owe over $500,000 on the mortgage of their $1,200,000 home and are looking to get rid of the mortgage payment. They both have credit scores over 750 and each have over $150,000 in retirement assets Both make over $4,000 a month in SS Income & Pensions So, the LO suggested a Home Equity Conversion Mortgage (reverse mortgage) to them as a way to get rid of the mortgage payment altogether so they could free up more money to travel. The benefits they received were: Over $450,000 from the reverse mortgage to help pay off the existing mortgage they have, freeing up almost $5,000 a month by eliminating the monthly mortgage payment They each cashed in about $25,000 from their retirement accounts to bring to closing to payoff the rest of the existing mortgage To them, "pre-paying" the mortgage by 10 months with some of their retirement savings was well worth the money to eliminate the mortgage payment forever! If they stay in the house for just 5 more years, they will have saved almost $300,0000 in monthly mortgage payments by doing the reverse mortgage now and using some of their retirement benefits to help eliminate the payment forever! They now have the extra money they wanted each month to travel together, create experiences and make the lifelong memories they have been looking forward to! If you have customers like Joanne and Janet that could benefit from a Home Equity Conversion Mortgage (reverse mortgage), give me a call TODAY and let's discuss how we can make this loan work for YOUR CUSTOMER! Here at SimpleReverse, we are here to help! If its marketing tools, marketing ideas, product training, scenarios or just a basic question; we are here as a resource to help you expand your knowledge and grow your business!! Don't hesitate to reach out today for any of your reverse mortgage needs!!! SimpleReverse is here to make the reverse mortgage product and YOUR reverse mortgage business SIMPLE, EASY and EFFICIENT for both you and your customers!! Give me a call TODAY and we can help you too experience the SimpleReverse DIFFERENCE!!
