Potential Knows no Age
An advisor recently referred us a client who was 67 years old, had a little bit of debt to clear up and not a whole lot of savings. They did however have a home with plenty of equity available.
We got them approved for a CHIP Reverse mortgage and got them $400,000 to use towards their debt and travel plans. The best part, no regular scheduled payments had to be made and they get to retain their lifestyle and dignity by living in their home.
While not a product designed for all, this can sure be useful to those that fall into this market niche.