At 87 years’ young, life was good. Still an avid golfer, gracious home entertainer of family and friends, active on local charity boards and a philanthropist from the heart, Henry had it all. Well, that is to say until an unhealthy heart had its way with him and after a few surgery’s and other procedures Medicare was not exactly keeping up with all the medical bills. So the logical thing to do was access the retirement funds and the income tax cost was punishing. Yes, he has a substantial passive income but those medical bills were draining one fund after another until Henry discovered the beauty of a HECM reverse mortgage.
His home was free and clear of any mortgage, the children had homes and lives of their own including money in their own bank accounts. Henry did not want to be burden to his children and wanted very much to replenish his retirement funds. He saw the HECM as a way to maximize cash flow again and balance out his retirement funds. A month after signing his loan application his wish came true and his financial stress melted away. He tells me he has never felt healthier! and is grateful for his new found piece of mind. He likes the idea too that he also has a HECM line of credit in the event he has another medical emergency. Life is good again!
