Reverse Mortgage Purchase Strategy with Rick Arvielo http Today I want to talk to you about purchasing a home with a reverse mortgage. Now , this is a message that goes out to the elderly of our community. But it’s something that doesn’t get talked about all that often. First off, one thing you never hear about is that 25% of homeowners, own their homes free and clear. Well, a lot of these people are baby boomers. You know, baby boomers are the largest bubble of population in the United States. And the leading edge of the baby boomer population is growing towards retirement age. You’ve got 65+ year old people in this enormous bubble of population, and a lot of them are in a very similar situation. They own their home free and clear or owe very little on it. They want to leave their home to their heirs. They’ve got tons of equity in their home, and it’s their biggest asset, but they can’t enjoy that equity of course unless they do a reverse refinance which is advisable in certain situations. But what’s also typically commonplace with these borrowers or these homeowners is they’ve got their savings, call it two or three hundred thousand dollars in the bank from a lifetime of savings and if they’re prudent investors at this stage of their life they’re earning about three and half percent interest on their money because they’re in fixed income type of investments. So here’s a strategy I’d like you to consider. You’re an empty nester. You’ve got a great big beautiful
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