Reverse Mortgage Scenario #3

  • Mary Moon, age 84
  • Home Value – $1,300,00
  • Home Equity – $1,300,000

The Challenge:

Mary is in good health, but has recently inured herself so she’ll need surgery and a hospital stay. Mary wants to keep her home and doesn’t want to burden her children.

The Solution:

They take out a reverse mortgage with the option of one lump sum totaling $100,000, or a monthly income of $1,495. The extra cash flow from their Reverse Mortgage more than covers their monthly cost for her surgery and hospital stay.