I’m guessing you’ve seen some of those older actors, in TV ads, promoting reverse mortgages. One of whom got jammed up as the firm he was representing was pursued by the Consumer Financial Protection Bureau over concerns that they were misleading seniors.
Even I became skeptical, afterward, on this subject. However, my guests, Peter Tourigny and Jason Nightingale, shed some light on this topic in our next discussion, including:·
- How they work
- Who can benefit and who won’t
- Related costs (yes, there are costs!)
- Tax-related issues - there are some good things here
- How mandatory counseling with a third party works
- The amount that someone can get out of their home
- And a lot more.
This is a power-packed episode that will help arm you and your parents with a list of questions to ask before you make any reverse mortgage decisions with or for your parents, or even yourself. So, tune in to this direct, to-the-point, discussion.
Myths and realities of reverse mortgage notes, and if they're part of the answer to your care cost challenges.
Linkes:
Guests: Peter Tourigny, has been helping his clients with the refinancing and purchasing of their homes in 44 states throughout the country. Born in Worcester, Massachusetts, he now resides in Manhattan Beach, California with his wife Skylar, daughter Elleni, and son Evan.
Jason Nightingale, owner of Safe Money Solutions, LLC in Kamiah, Idaho, operates across 40 states. Based on his own needs, In 2017, Jason developed a series of innovative strategies, to significantly reduce mortgage/debt payoff times and save homeowners an average of $100-$200,000. He also developed and introduced a unique savings mechanism, that can capture about 6% in compound interest using specialized insurance products. These strategies offer tax-free gains and penalty-free access to funds, benefiting retirement significantly.
Passionate about helping others do well too, Jason travels and teaches his strategies to investors and advisors throughout the US.
Host: Nancy May, Author of How to Survive 911 Medical Emergencies, Step-by-Step Before, During, After! is an expert in managing the path of step-by-step caring for aging parents, even from over 1200 miles away. Over the course of her caregiving time, she was able to save over $250,000/year on her parent's caregiving costs, while improving the length and quality of their lives together. Nancy offers a free, fillable File-of-Life to every caregiver at www.howtosurvive911.com. Nancy is also the Co-Founder of CareManity LLC, and the private FaceBook group, Eldercare Success. She is also the new voice of the Caregiving Network.
Disclaimer: The views, perspectives, and opinions expressed in this show are those of the show guests and not directly those of the companies they serve or that of the host or the producer CareManity, LLC. The information discussed should not be considered or used as medical, legal, or financial advice. Please seek the advice of your own medical, legal, or financial help.
This podcast uses the following third-party services for analysis:
Podtrac - https://analytics.podtrac.com/privacy-policy-gdrp
Chartable - https://chartable.com/privacy
