Reverse Mortgage Misconceptions in Las Vegas, Nevada

Misconception #1

REVERSE MORTGAGES ARE ONLY FOR DESPERATE SENIORS, OR FOR THE “HOUSE RICH, CASH POOR.”

INCORRECT.

The reverse mortgage is an excellent financial planning tool that has been used by homeowners from all walks of life to enhance their retirement years. While some have needed the cash from a reverse mortgage more than others, the growing popularity of this product is evidence of its benefit in a wide array of financial circumstances.

Am I eligible for a reverse mortgage?

To qualify for a reverse mortgage, you must:

• Be at least 62 years old. In the case of a couple or co-owners, both must be 62 if their names appear on the title to the home.¹
• Be a homeowner with equity in your home. You may qualify even if you have an outstanding balance on your first mortgage. Single-family homes and qualified condominiums, townhouses, manufactured homes, and 1- to 4- family owner-occupied residences are eligible.

¹ If one spouse or co-owner is under 62, that person’s name must be removed from the title so that the other person can qualify for the reverse mortgage.

Welcome to my new senior issues and reverse mortgage blog for Las Vegas Nevada!

Hi, my name is Greg Forbes, I live and work in Las Vegas Nevada as a Reverse Mortgage Specialist. I have helped hundreds of seniors over the years with good mortgage choices. I decided that it was time to share some of my wisdom with my local community regarding seniors, cash flow probems after retirement, and so many other situations that crop up from time to time.

Reverse Mortgages have saved seniors from foreclosure, bankruptcy, and more. Many seniors just need a little extra cash flow to make ends meet, and some need more serious problems solved. Regardless of your situation, I'm always happy to see if a Reverse Mortgage might be a good fit.

Here's a little about me:

After college, I was involved in both the insurance and financial industry in a small business entrepreneurial capacity. In 2005, I became acquainted with the reverse mortgage. It is the only type of mortgage I have been involved with. I specialize in Reverse mortgages because I believe in the product, and how it can positively impact the lives of the senior. We do business with others the way we would like it done to us: we answer our phones, see people face to face as often as possible, and our in-house processing keeps customers fully informed of progress until completion.