Reversed Mortgage Brings Hope To The Aged


Reversed Mortgage Brings Hope To The Aged 1

Reversed Mortgage Brings Hope to​ the​ Aged
The following is​ a​ short story about an old couple who were abandoned by their children and family to​ fend for themselves. After having toiled for several decades to​ raise their family,​ all they had in​ return were debts and mortgages,​ which appeared impossible to​ settle since they could no longer afford to​ pay them off. They owned nothing except their home,​ which they cherish for the​ memories it​ gave them.
Hope beckoned in​ the​ form of​ Reversed Mortgage and this discovery led them to​ relocate their dignity and selfconfidence to​ survive for as​ long as​ they exist.
Usually,​ I ​ would blame my ageing cells for the​ sleeplessness and take a​ pill to​ induce sleep. This night it​ was different. I ​ felt calm and relaxed. Reversed Mortgage has given me hope when everything else failed. My wife of​ 34 years was sitting next to​ me,​ with her head resting against my tired,​ droopy shoulder. Having carried the​ burdens of​ a​ large family for decades,​ the​ thought of​ how the​ chatter and laughter which was usually heard throughout the​ day and late into the​ night has been replaced with the​ numbing silence,​ brought a​ deep sorrow from within me.
When I ​ turned 67 a​ few months ago,​ there were no birthday wishes or​ greeting cards in​ the​ mailbox. Neglected by our three children and relatives,​ we have been fending for ourselves over the​ past few years. the​ mounting debts and mortgages forced me to​ seek for employment even after having retired a​ long time ago.
Due to​ my ailing health,​ I ​ could not work for long hours and had to​ quit after a​ few weeks. Unable to​ settle my debts or​ pay off the​ mortgages,​ we sought for financial aid from our children. None of​ them were willing to​ part with their money for us. Social security hardly met our requirements. All we had to​ call our own,​ was our home and everything in​ it.
Until a​ few weeks ago,​ my wife and I ​ decided that the​ only way we could overcome this financial crisis is​ to​ sell our house. We could not bear to​ part with it​ since we have so many memories,​ which are engraved within its walls and our hearts,​ but we did not seem to​ have another option.
Thankfully,​ we received some timely advice from a​ close friend when we were in​ the​ brink of​ putting up our house for sale. He suggested that we opt for Reversed Mortgage. at​ first,​ the​ word mortgage turned us off and we refused to​ listen further but when he insisted that we trust his opinion; we obliged.
What perked us up was when he told us that we did not have to​ sell our house! We could live in​ it​ for as​ long as​ we wanted and we did not have to​ repay as​ long as​ we stayed there. We could even resell the​ house whenever we wanted. We are not required to​ have any credit or​ income either!
He took us to​ a​ Reversed Mortgage counselor who gave us more details. We were told that I ​ would be under no pressure to​ make monthly repayments. There were also various options in​ terms of​ interest rates and I ​ could use the​ funds,​ which I ​ obtain from the​ Reversed Mortgage for any purpose. I ​ could receive the​ funds in​ one lump sum or​ as​ monthly installments or​ both.
Such an opportunity certainly seemed inviting and we decided to​ gather as​ much information as​ possible on​ it.
Since I ​ am over 62 years of​ age and own my home,​ I ​ was told that I ​ am eligible for a​ Reversed Mortgage.
Although the​ initial fear within me about how my debts would rise,​ as​ the​ equity would fall,​ the​ counselor convinced me that the​ equity would rise with time as​ the​ value of​ the​ house goes up.
With over 300,​000 senior citizens opting for Reversed Mortgage,​ it​ seemed suitable and convenient for us too. I ​ could even pay the​ various loan fees through the​ mortgage fund.
Well,​ we noticed that this facility did have its disadvantages. For instance,​ repayment may be required if​ we fail to​ pay our property taxes,​ the​ house is​ not well maintained or​ if​ we fail to​ keep our home insured.
At the​ end of​ all the​ research we did together and the​ counseling we attended,​ we decided to​ opt for Reversed Mortgage. Having weighed the​ pros and cons,​ we knew that this was by far a​ much better solution than to​ sell our home or​ seek for a​ loan elsewhere.
I held my wife closely and sighed in​ relief. She looked up and I ​ saw hope embedded in​ those gray eyes. it​ was reflected from mine. Smiling at​ each other,​ we knew that we were onto another milestone together. This time,​ we could leave our worries aside.



Reversed Mortgage Brings Hope To The Aged



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