Coronavirus Looming…Housing Market Booming!
A short practice you do every day is better than a long practice you keep putting off to tomorrow. –Kelly McGonigal
Are Any of Your Clients in Danger of Depleting Their Retirement Savings Account?
More financial planners are giving reverse mortgages a serious look as the coronavirus pandemic wreaks havoc with retirees portfolios.
Good News for The Housing Market
How could the Housing Market go up during a recession, you ask? When the Stock Market dips, investors consider it to be too risky, so instead, they look for safer places to invest their wealth. Bonds and Real Estate are some of the most common places investors turn to during times like these.
What Does This Mean for Homeowners?
It is only a matter of time before the rates start to go up again, and it’s uncertain how low mortgage lenders are willing to go, regardless of the Federal Reserve cutting its rates again. But the current state of mortgage rates is incredibly good news for both buyers and sellers.
Now is the time to act.
I came across this podcast where financial experts recently revealed some of the motivations behind increasing interest in reverse mortgages during the COVID-19 pandemic. Take a listen, and let me know if you have a client scenario that could benefit from a reverse mortgage today.
Having trouble with the player? Click here to listen online.
I've worked with several financial planners like you, who have clients, 62+ that are experiencing a more rapid decrease in their retirement accounts than initially expected. COVID-19 shutdowns, job loss, illness, loss of a partner, and/or the market volatility, have caused many seniors additional stress in maintaining their current mortgage payments.
If you would consider a reverse mortgage as a “tax-free” option, for any of your clients, it would be my pleasure to visit with you about any particular scenarios you may have. With housing wealth at an all-time high, there has never been a better time to take advantage of this amazing program.
All My Best,
Cynthia Kee
Your Reverse Mortgage Specialist