Grandma Wants a Good Christmas for the Grandkids
When I met with Joan a few weeks ago, her concern was her mounting credit card debt. She just couldn’t get ahead of the curve. Repairs were needed around the home, the holidays are approaching and the cat was due at the Vet. Unfortunately the credit cards were maxed out. Most of all she wanted to ensure her grandkids got the presents they deserved.
After review of her financial situation, we put together a budget that could work after securing a reverse mortgage loan. By paying off her credit cards, mortgage and lines of credit she could then take care of her typical monthly expenses and still have $200.00 a month left over. It was helpful for her to visually see her financial situation and, as a result, she elected to go ahead with a reverse mortgage loan. She went from feeling burdened to excited now that there was “light at the end of the tunnel.”
After closing the reverse mortgage loan, I got a phone call from a very elated Joan. She had just paid off all of her credit card debt and was headed to the mall to shop for Christmas presents and also pick up that much needed new vacuum cleaner.
I was delighted to help this woman … she now has control of her finances and looks forward to a happy holiday season. With the budget presented to her she can now live within her means. In this case, without a reverse mortgage loan, Joan’s options were limited and she was really stressed about her fiscal problems. The reverse mortgage truly made a difference in this woman’s quality of life.
For more information on how a Colorado reverse mortgage loan may benefit you and the latest reverse mortgage news, please contact me at (720) 641-3482.
