SBEL is your solution when…a reverse mortgage will eliminate your monthly mortgage payments and give you the extra cash to relax and enjoy retirement.
Situation:
John enjoyed a long and successful career as an entrepreneur, building and growing his own company. As he began to transition into retirement, John became interested in the benefits a reverse mortgage provides.
SBEL Solution:
John and Matt Hadnett are both active participants in St. Lawrence Martyr Church referral group and have been so, for years. As John became interested in the possibility of refinancing his home into a reverse mortgage, he reached out to his close friend Matt. In the SBEL office, John Mills focuses on reverse mortgages. John Mills and John have also been friends for several years. After reviewing the benefits, namely, no more obligations to make monthly mortgage payments as well as an additional cash pay-out, John decided he could really enjoy retirement if he was liberated from that monthly financial obligation. John & John worked together through the loan process. After closing the loan, John, John and Matt shared a great meal at Primo Italiana in Torrance and celebrated John’s next chapter.
“Equity is what the reverse mortgage idea is all about. It was important to me to build equity when I was younger. A reverse mortgage allows me to use some of that equity and remove a big cash flow worry as I get to this new level of maturity. The reverse mortgage helped me to simplify my life, and still leave a healthy amount in the estate for later on. I did this because it took away worries and solved a problem. In contract law, time is of the essence. In life, it is timing that is of the essence.” – John C.