I got quite a humorous call from a darling client who purchased a home using a Reverse Mortgage.
I’ll call her Mia – and I need to mention she immigrated here from overseas and speaks with an accent.
So here’s what Mia told me: When she tells people she bought her home using a Reverse Mortgage, and that she’ll never have a monthly mortgage payment, they tell her she didn’t really understand the transaction. Never mind that Mia’s adult daughter, American born and raised – and a highly successful realtor in Northern Virginia – walked through every step of the transaction with Mia. Never mind that Mia has a PhD in applied physics. Because Mia’s friends don’t know about Reverse for Purchase, Mia must be wrong.
Well, Mia isn’t wrong. But it is true that many people don’t know about Reverse for Purchase.
And because of that, I’ve put together a short video on how it works.
Give me a call with questions. I always love hearing from you!