I Don’t Like Debt

When your mantra is I don’t like debt, it can be a big leap to look at a reverse mortgage. We join their story where… Janet completed a Reverse Mortgage with Kim Dodge’s team and promptly told her neighbor Farrah how the loan was changing her life for the better. Knowing her neighbors Farrah and Joels for over 20 years, Janet was adamant that they look into the Reverse Loan possibilities. Would a line of credit/loan on their house where they didn’t have to make a monthly principal and interest payments finally convince Joel to retire? And really, Farrah was tired of pinching pennies and ‘sitting around the house waiting to die’. Sounds dramatic of course (and she was not just sitting around, that’s for sure) but Farrah felt the tug of their advancing years and she was afraid that if they ‘didn’t get [...]

Cashflow, Dreams & the Duplex

Brian and Pam were not confident in the mortgage options presented to them. Their loan officer of many years only presented a traditional mortgage that wouldn't help cash-flow. As they entered into a new life phase, their home financing had to evolve too.  The Situation: Brian and Pam moved into one of their rental units, a one-floor duplex; no stairs for the sore knees. As they looked to retiring completely, they wanted to maximize their opportunity for better cash-flow. However, they had concerns about being able to do so with a duplex and keeping the property held in their trust. After talking with several large lenders and their original loan officer, their financial advisor recommended they pursue another viewpoint ~ one more strategically aligned with retirement, from a loan team that was local and who could compare multiple options side [...]

Dream Home in Retirement

Nan and Deb were ready for that dream home in retirement; a place for entertaining friends and family. Nan and Deb were ready for that dream home in retirement; a place for entertaining friends and family, space for a large garden, a potting shed and not to mention a stylish chicken coop.  Also important, one level living, accessibility to accommodate physical changes that aging brings. Do you stay in your current home, or buy a new one that fulfills the dream ‘RETIREMENT ENVIRONMENT’ you have been working so hard for? Financing Choices: Kim Dodge, their loan officer, put together loan options that included a conventional purchase loan with a required monthly principal & interest payment, and a Reverse Purchase loan, with NO required monthly principal & interest payment! When their awesome realtors found this forever home, the choice was [...]

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