Real Borrower Story: Arnold Zorn

RBS - Dec - Arnold Zorn

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 medical co-pays,” Zorn shared. He didn’t have to compromise on his health or have to hold back in choosing the best medical options to ensure he could get better. This is due to the fact that he had just closed a reverse mortgage loan and is in his first month of receiving the income.

“Thank God I have this because I’ve had to get a lot of tests. I’m with one of the best hospitals in the world and I was financially able to say yes when they suggested I should try a new non-invasive procedure to help me. With the reverse mortgage, it has made it a lot easier than sweating bullets and wondering how I would afford to get better. You shouldn’t compromise on your health, and that’s what I’m using most of the money for right now. It has really helped me out.”

Zorn has also improved a few things around the house. “I’m getting the house back in order,” Zorn says, excited about the small improvements he is able to make to the home he helped his father build as a teen in 1949. He has put up drapes with his daughter, tinted the front windows for privacy and safety, and plans to paint the kitchen and bathroom.

Before getting a reverse mortgage, Zorn and his significant other relied on social security and two incomes. But when his significant other sadly passed away, Zorn knew it would be time to further look into the possibility of a reverse mortgage.

“A friend of mine told me about it, and I’ve also seen the commercials on TV. I was thinking about it for 6 to 8 months before I applied. I just needed a little help in the remaining years of my life but I don’t want to be in poverty or dependent on anybody. That’s the way I am.”

And that’s when Zorn picked up the phone to call American Advisors Group and ask questions. They were answered by his new Reverse Mortgage Professional.

“He was very patient and thorough with me,” Zorn said. “He was really nice; I enjoyed the whole procedure with him. When I had questions, I would call him up. He would pull up my records and explain everything to my satisfaction.”

Since closing his reverse mortgage, Zorn has enjoyed the peace of mind that comes with getting the loan. “It helps me every day with my medical expenses, my cost of living, my bills, and my taxes. I live comfortably and not extravagantly, and I have the financial freedom to pay for things I need responsibly.”

Zorn is not shy to share the advice for anyone considering a reverse mortgage.

“If you’re financially strapped and if you don’t want to get in trouble, you should consider a reverse mortgage. You do not want to find yourself in financial trouble with bills unpaid, creditors bothering you, and your credit rating going down. You’ve got to use your head of course, not abusing the loan by wasting money and using funds irresponsibly. If you do use a reverse mortgage responsibly, you can enjoy the rest of your life comfortably. And that is the way I feel right now.”

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