The Changed Faces of Reverse Mortgage Loan Clients

fall leaf candles  I  hope that when I retire I can do crafty things like, say in October, make leaf lined candle jars, because I just never seem to have time  while working full time at what I love:  helping Grass Valley, Nevada City and Penn Valley seniors stay in their homes monthly mortgage payment free, with a reverse mortgage, the “peace of mind” loan. Truth be told, I love what I do so much that I just may never get to craft leafy type things anytime soon.

If you want to skip this blog post and go directly to my website or contact me for an appointment, here you go: http://www.SierraFoothillsReverse.com or (530) 497-4010.

This is a non-technical post, lately I’ve done mostly technical type blog posts about different aspects of reverse mortgages, but as I enter my 8th year of full time specialization in reverse mortgages I’m reflecting on the changed faces of whom I am helping with the “peace of mind loan” once the loan is complete.   I have had almost all my clients of late call it such when we’ve either paid off their existing mortgage, created a credit line for them, or a combination of both, a few opt for lifetime incomes. When I check back in with clients, to a person, they all express the same things: that they were losing sleep over a depleted savings accounts and worrying about the inevitable repair, health crisis, or need for a newer car, all things in the back of their minds they knew could not be covered by savings, and that this loan had restored their peace in life and ability to enjoy life fully without nagging worry and sleep loss. Or, for the some of my clients, who could cover these types of expenses, but to do so the concern was they had to take more than mandatory draws out of a retirement fund, and then often they worried that they had “wasted money” to pay for a tax consequence in doing so.  Or the worry over NDFA, (No Damn Fooling Around) industry acronym for property taxes are due in November, must be paid by December, due in February must be paid by April. Ugh, worry over property taxes or the ever increasing fire and casualty costs that come with living in our beautiful mountain area, that’s no fun.

Often in the initial meeting or workshop seminar the clients I meet have worried faces, when the loan is complete there is a spring again in their step, a look on their faces of a weight lifted. Years ago I owned a successful real estate company in Sebastopol in Sonoma County, few women back then in all of Sonoma County had accomplished this, I was proud of having done so. Of course I was happy when the day came to hand over the keys to excited new homeowners, but nothing compares to the feeling I get now when I call clients to tell them we’ve just completed their reverse mortgage loan, and then a week or so later we meet for me to give them a thank you gift, because that is when I see happier faces and hear them feel free to express to me their feelings of relief and peace of mind restored, that’s their gift to me.

hammock

It’s a small community, even further down the line I run into my clients here and there post loan, that’s when I receive another  gift from clients, when they tell me how their life has changed post reverse mortgage: what new things they now can do, share with me a picture or two of a trip to see grandchildren, a motorhome taken out of storage and pictures of a trip, (where as before the gas had become too much of a budget buster to take trips at all), a falling apart deck now repaired and used for bbq’s and family gatherings, one set of clients whose mortgage was paid off through a reverse mortgage were still working part time well into their 70’s to cover the monthly payment, their comment was “we now have time to lay in a hammock and read a book overlooking the pond on our land, in our home”. Yes, I’m the lucky one indeed.

~Shawna McDonald, Loan Officer NMLS #271335, Real Estate Broker 00585530

Sierra Foothills Reverse Mortgage 412 E. Main Street, Grass Valley 530-497-3010

http://www.SierraFoothillsReverse.com

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