Are you considering a reverse mortgage but worried about leaving assets to your kids?
Are you worried your kids will fight over the house once your gone.
These are questions that many seniors have. It obvious no parents wants to start a fight with the kids when there gone.
So how do we accomplish something that seems so impossible. Perhaps its easier to explain with a scenario based on a true story.
The Smith's owned a home that was paid and full and had recently retired. There retirement was enough to sustain there living however it wasn't enough to help there 3 kids.
The Smith's wanted to help there 3 kids each buy a property. The problem was they didn't have much savings to spare outside of the pensions.
We sat down with the Smiths and presented an option that would help there family grow there assets.
With a reverse mortgage the Smith's were able to get $160,000 out of there property. They gave each kid $50,000. The kids were able to buy there own homes. The Smith's were able to see each kid have a home for there family. All of this was accomplished with the Smith's never having to make a mortgage payment.
