Ron turned 70 after eight years as a widower and decided it was time to move forward. He wanted the flexibility to fix up the house and do the things he loves while he still can. Here's his story, in his own words.
“You've had 10 years of great stories to tell your family. Enjoy life now.”
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Full transcript: Ron
I had turned 70. It was time for a change. Being a widower, you finally, after eight years, realize she's not coming back. You know, most people realize it after about eight days, but it took me eight years. She's not coming back, and I need to run my life and move forward.
If I don't refinance ASAP, then I need to sell the house ASAP. It was time to move on, because I'd used up almost all the liquid cash that I wanted to use up. I still had cash, but there's a point where you have to draw the line in the sand and say, this is it.
Beauty about this loan was it gave me all the flexibility, any loan that anyone can get, all wrapped into one. So if you learn to what your accrued interest is and pay it on a monthly basis, this loan is just really an interest-only loan. But if you need some extra money because your friends want to do something, or in my case, I had some additional house improvements that needed to be done, so I skip a few payments. Yeah, it loads on at the end, but if I also work a little more, I can pay it off and it's all done. No big deal. So you have tremendous flexibility.
On the reverse, there's maybe some things that you might like to do in life before you get too old. I'm 70. Guess what? I'm not going to be here for another 70 years. So if there's places that are going to require some mountain climbing or bicycling or canoeing or a physical activity, I need to do it now.
If someone doesn't have that extra cash in the bank, but they got a million bucks worth of equity in a house, borrow on the house. ASAP. At the end of the line, in 10 years, depending on how much you borrow, you're not going to miss that money, but you've had 10 years of great stories to tell your family. Enjoy life now.
Transcript lightly edited for readability. Individual experiences vary. Borrowers must live in the home, pay property taxes and homeowners insurance, and maintain it.
What people say about us
I can't thank the team enough for the help they provided me during a difficult time. After my husband passed away, I struggled to make ends meet on my own. But with the help of a reverse mortgage loan, I was able to pay off my debts, cover my expenses, and live comfortably in my home. The team at Improve Retirement was compassionate, understanding, and professional throughout the entire process.
Mary T.
I was worried about how I would make ends meet in retirement, but thanks to Improve Retirement I was able to access the equity in my home and enjoy my golden years without financial stress. The process was easy, and the team was always there to answer my questions. I highly recommend them to anyone looking for a reliable and trustworthy reverse mortgage lender.
John D.
I was skeptical at first, but after doing my research and talking to the team at Improve Retirement, I realized that a reverse mortgage loan was the perfect solution for me. I was able to access the equity in my home without selling it, and I now have the financial freedom to enjoy my retirement to the fullest. The team made the process easy and stress-free, and I highly recommend them to anyone considering a reverse mortgage loan.
Robert S.
I can't thank Improve Retirement enough for the help they provided me and my wife. We were struggling to make ends meet on our fixed income, and we were worried about losing our home. But with the help of a reverse mortgage loan, we were able to stay in our home and enjoy our retirement without financial stress. The team at Improve Retirement was friendly, professional, and helpful every step of the way.
Michael and Susan H.
I was hesitant to take out a reverse mortgage loan at first, but after talking to Improve Retirement I realized that it was the perfect solution for me. I was able to access the equity in my home without sacrificing my ownership, and I now have the financial flexibility to live my retirement on my terms. Their team was knowledgeable, responsive, and professional, and I highly recommend them to anyone looking for a reliable and trustworthy reverse mortgage lender.
Linda B.
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