I was renting in Dana Point, CA at $2,800 per month which totaled $403,200 over the 12 year period in total payments. My granddaughter approached me and said "Enough". You have experienced no appreciation or mortgage interest deduction. You are basically throwing you money away. She found a condo that was 3 blocks from her home for sale for $533,633. I qualified for a $335,000 Reverse Mortgage Purchase. I took $200,000 from my saving to meet the Down Payment Requirement. I currently have no mortgage payment, so in am currently $2,800 a month ahead in real cash-flow. My home has also appreciated in value to currently $949,432. Who would have imagined that it was possible to save $33,660 in yearly cash-flow and watch my property appreciate over $415,799?
Making the decision to do a Reverse Mortgage can be a scary and difficult one. Not so, when you have Lawrence on your side. He was honest, informative, helpful, fun and pleasant to work with. Any questions or uncertainties we had were answered immediately and professionally. We are so happy we chose him to help and guide us thru this monumental decision.
We now enjoy our retirement without the worry of a mortgage payment, but where to spend it on our travels.
Our deepest gratitude to you Lawrence for all your hard work.
Sincerely, Bob and Gloria