Seniors Need Cash Flow

The average Social Security benefit is $1234 a month. Next year's "raise" is just 1.7%. The medicare expense increase will be twice that. I hear this every day from clients "I need more cash coming in". Recently I consulted with a client, age 78, who was "supplementing" her income by taking out cash advances on her credit card (at 24.99% interest). She was setting herself up for financial disaster. Fortunately I was able to provide her an option - a reverse mortgage - that extinguished that usurious debt, eliminated a $170 monthly payment, and provided her with a life-time guaranteed, tax-free check of $339 a month. I also helped her put together a budget. Her tears of happiness caused my eyes to water-up. Questions? E-mail me at florian@nwireversemortgage.com