Real Borrower Story Archives

How a Reverse Mortgage Can Help You Buy a New Home

Posted - July 23, 2015

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

When you were younger, your home was the perfect place.  Your spacious backyard, shaded by trees, provided the place for your children to run, laugh, and play.  Your kitchen, along with your fully stocked fridge, continuously provided plentiful meals to feed your growing family.  Your living room and den, outfitted with the television of the house, served as the family gathering spot to lure each member away from their individual rooms in order to cultivate family bonding time.

During

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Patsy Harper Supplements Her Income With a Reverse Mortgage

Posted - February 17, 2015

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

It has been almost a year since 67- year old Patsy Harper made the call that would help her keep her single-story Tennessee home nestled in a woodsy area of Ashland City.  It was a call that would prove to be a big step to helping her financially.  For the longest time, she had seen advertisements for the reverse mortgage loan product but never understood what it really was.  She knew she could remain living in her home while keeping ownership, and also receive some of her home’s equity in

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Real Borrower Story: Ernesto & Carmen Rivera

Posted - January 8, 2015

When 67-year-old Ernesto Rivera and his wife Carmen decided that they wanted to pay all of their bills, taking a reverse mortgage on their warm and sunny Florida home wasn’t their first option.

The first thing Ernesto thought to try was a conventional loan or a home equity loan through banks. The banks, however, told him that they couldn’t give him a loan because he owed too much.

“But that’s exactly why I wanted the loan in the first place!” Ernesto laughs, as he recalls the

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Real Borrower Story: Arnold Zorn

Posted - December 2, 2014

Seventy-eight year old Arnold Zorn sat in the comfort of his ranch-style home in the beautiful suburbs of Cleveland Ohio and breathed a sigh of relief. In his hands, he held the latest medical bill that detailed the charges of his latest diagnostic tests.

Fortunately for him, figuring out how to pay for these new medical bills was not among the things he had to worry about when he was recently diagnosed with an unexpected medical condition.

“I can pay for these diagnostic tests and

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Real Borrower Story: Edna & Marvin Marcum

Posted - November 3, 2014

When seventy-one year old Edna Marcum relaxes outside on her back deck and looks out across the two acres of lush greenery that comprises her property, she appreciates every inch of it. And she has every reason to, especially now that the entire place is paid off.

“I grew up learning that if you can’t pay for it, then don’t buy it. And it has served me well,” she shares. She and her husband Marvin make a point to live within their means, only buy things that they can afford, and find

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Real Borrower Story: Louis & Connie Cooper

Posted - October 14, 2014

Seventy-two-year-old Louis Cooper and his wife Connie own a beautiful California home nestled in the warm suburbs of North Hollywood. They’ve delighted in many summers lounging in the sparkling blue pool in the back yard. About seven months ago, they closed on a reverse mortgage for their home, and since then, they’ve been enjoying life. In fact, they are enjoying their reverse mortgage so much, they are getting another one!

“I’m in the process of refinancing our reverse mortgage,”

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Real Borrower Story: Loretta Zerillo

Posted - September 2, 2014

 

63-year-old Loretta Zerillo can hardly contain her excitement. Her carpenter had just finished installing a beautiful brand new door and replacing the old wood of her home’s gorgeous side deck.

“I love it!” she gushes. “I don’t know why I didn’t do it earlier!” She pauses. “Oh wait, I do know why. It’s because I didn’t have enough money to do it earlier!” She laughs.  “But now I do!”

Loretta had recently closed on her reverse mortgage loan and is enjoying

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Real Borrower Story: Paula & David Hodges

Posted - August 18, 2014

 

As of last month, Paula Hodges and her husband David had signed all the necessary paperwork, collected all the necessary documents, completed all the necessary steps, and did everything they needed to do in order to get a reverse mortgage. They did everything except one thing: turn age sixty-two.

“This is the first time in my life I’ve ever wanted to be older than I was,” laughs the now 62-year-old Paula Hodges as she celebrated her long-awaited birthday last

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Real Borrower Story: Duane & Ruth Riley

Posted - July 8, 2014

If anyone has a reason to be sentimental about their home, it’s 76-year-old Duane and 74-year-old Ruth Riley.  Sitting on the banks of a beautiful and serene pond in Amery Wisconsin, their home was built completely from scratch for them by their carpenter son.  From the baseboards to the rooftop, their home is the epitome of a labor of love.

So when they thought they may have to sell it and downgrade to a smaller home, it was no surprise that they could not find any home that lived up to

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