Inflation. It’s coming, it’s coming, it’s here.
781-724-6221
By Alain Valles, MBA, MS
The U.S. Bureau of Labor Statistics announced inflation hit 7%. A new high since June of 1982. That means the cost of life’s necessities — food, fuel, medicine, housing — are increasing.
Yes, for many, their incomes have also been increasing but those living on a fixed income or limited retirement savings face the most economic risk. This may translate to a lower standard of living and the pressure of making hard choices. And there is no surprise that older people will face the greatest financial challenges.
A reverse mortgage may be the antidote to inflation by providing needed immediate cash as well as peace of mind if money is need ed in the future.
What is a reverse mortgage?
For homeowners at least 62 years old with sufficient equity, a reverse mortgage is a government guaranteed loan that allows you to receive cash when needed or desired. The primary benefit of a reverse mortgage in comparison to other mortgages is that you never have to make a monthly mortgage payment. Although you would be required to pay your insurance and real estate taxes.
A reverse mortgage may be the optimal choice in achieving security against inflation.
There is no cost to learn
Regardless of what you’ve heard about reverse mortgages, it can be complicated to determine if a reverse mortgage is the best path for you.
Development
A great place to get free information is the “Use Your Home to Stay at Home” 36-page book. This is the official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development and published by the National Council on Aging.
For more personalized information, please give me a call at (781) 724-6221 to receive your free copy of “Use Your Home to Stay at Home” or email me at av@powhse.com. I am available to evaluate your specific situation. It only takes about 10 minutes to calculate if you qualify and how much money is available. No credit report is required. The only personal question asked is your date of birth. Thank you and stay safe!
Alain Valles was the first designated Certified Reverse Mortgage Profession al in New England. He obtained a Master of Science from the M.I.T. Center for Real Estate, an MBA from the Wharton School, and graduated summa cum laude from UMass Amherst. He is the senior reverse mortgage loan officer MLO#7946 at Powerhouse Funding Corp. NMLS #1740551. He can arrange but does not make loans. Alain can be reached directly at (781) 724- 6221 or by email at av@powhse.com.
