Linda Kay's Blog

Senior Healthcare - In Home Healthcare

Senior Healthcare - In Home Healthcare

  

** I wrote this blog when I was working with seniors and helping them with their finances by doing Reverse Mortgages.

Okay, so I just know that if my momma had to be moved into a nursing home, it would literally kill her.  She has been in that same house since 1959 and it's simply her comfort zone.  But, if I had to take care of her myself, I couldn't work and help my family out.  So, the answer, is IN HOME HEALTH CARE.

senior man

Now I know she has "LONG-TERM CARE INSURANCE", but it really isn't going to be that big of a help, because obviously in-home care is extremely expensive.  So I would really be stuck between the proverbial rock and a hard place. If I were independently wealthy, I could just pay for it myself, but unfortunately, like so many other out there, it would break the back of my family's piggy bank.

A heartbreaking story, isn't it and it occurs way too often in this day and age and especially in this economy. But, there is GOOD NEWS; there is HOPE!

My momma owns her house outright (NO your nhouse does not need to be paid off) and she's over the age of 62.  So literally, in this case, a REVERSE MORTGAGE would literally save her life.  I could put her home into a reverse line of credit and use that money to help offset what costs her insurance wouldn't cover. 

In my travels, I have run into similar stories, even in my short amount of time in this field.  A lady taking care of her sister after a massive stroke, a daughter who can take care of her father at night but must work during the day... and sometimes adult day care is not an option.

This is one reason I went into this field - no not for my momma, but to provide solutions to the vast and growing amount of seniors who truly need some form of financial security and help.

I hope if you run into anyone in your travels who is in need of help, you'll remember that the FHA reverse loan is a great option for those that need it!

And remember, if you have any questions or need help with either real estate or Reverse Mortgage, please contact me as I understand both sides.

 

Warmest Regards,

Linda K. Mayer,

Realtor, Office Manager  

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website


 

 

 


7 comments • Linda K Mayer- SoCAL 210 Corridor A REALTOR YOU CAN TRUST! • January 25 2012 02:06PM

Reverse For Purchase - What A Concept!

Reverse For Purchase - What A Concept!

 

Okay, so we all know seniors (age 62 or over) who want or need to sell their current home. An aunt, an uncle, a grandparent or parent. Maybe they have a two-story and can no longer handle the stairs, maybe they want to be closer to their kids or grandkids, maybe their house is way too big, maybe they want to be with other active seniors... many, many reasons this could be happening.

But since they happen to be a senior, they are on a fixed income (usually) or have other factors that would not make them a good candidate for a new home loan, plus they are just not sure about the new payments.

I have GOOD NEWS for both the seniors and their Realtors! The "Reverse for Purchase" can come into play!  Here's how it works...

Step One: Mr. and Mrs. Stiles meet with their Realtor and place their home on the market. Step Two: Mr. and Mrs. Stiles start looking for a new home to purchase that will fit their needs.  Step Three: The Realtor introduces Mr. and Mrs. Stiles to a Reverse Mortgage Consultant who explains the process to them.  (Yes, I happen to know a couple of fantastic people who have done reverse for more than ten years each!) Step Four: Their home sells for $300,000!

Here's how it looks on paper:

New Purchase Price                    $400,000

Reverse Amount                       $230,000

Cash Needed to Close               $170,000

The cash can come from the proceeds of the sale of their previous home or other sources and the rest can go into their own pocket.  And because of the Reverse Mortgage on the new home, they will never have a payment* until they can no longer live permanently in the home.

And the best part is, they can use the extra money for anything they want; possibly a dream vacation, pay off their other bills, etc.  How freeing is that!  What I always say about my mother who was a teacher for more than 35 years is that she worked hard - so why should this time be more difficult for her?  She deserves everything and MORE!

Great, FANTASTIC deal... and everybody's happy!

senior couple

So, if you know of anyone who fits this criteria, please don't hesitate to call me for further information!

*House must be kept up to FHA standards and all taxes and insurance must be kept up to date.

 

Warmest Regards,

Linda K. Mayer,

Realtor, Office Manager  

License # 01767321

A Realtor you can Trust!

(626) 824-8927 Cell

LindaKMayer@live.com

Linda's Website


 

 

 


5 comments • Linda K Mayer- SoCAL 210 Corridor A REALTOR YOU CAN TRUST! • January 23 2012 02:57PM