Reverse Mortgages Help Seniors Afford Monthly Expenses
Reverse mortgage home loans for senior citizens are now widely accepted as a way for homeowners to use the equity they have built in their home to help pay for their living needs & medical expenses.
Some financial advisers insist that a reverse mortgage should be a homeowner’s last resort for supplemental income and others suggest that older adults jump right in to some of the reverse mortgage options, such as the Home Equity Conversion Mortgage Saver.
The HECM Saver requires homeowners to go through reverse mortgage counseling to be make sure they are aware of the pros and cons associated with this type of home loan which helps these older adults with the budgeting and expenses.
For those Homeowners who really need assistance with their monthly expenses, a reverse mortgage is the best way for them to acquire the funding they need without worried about repaying that loan as long as they remain in their home.
Typically, a homeowner’s reverse mortgage will be either repaid through funding from their estate after they pass away or through the sale of their property by their heirs, but if a homeowner is unable to continue meeting property taxes, can no longer claim their home as their principal residence, or does not provide upkeep on the home, they may be required to repay this reverse mortgage loan. Since reverse mortgage counseling is required for a homeowner seeking a reverse mortgage loan, this will help counsel homeowners in terms of whether they should take advantage of this opportunity.
Reverse Mortgage companies can work with a qualified list broker, like Dataman Group, to create targeted mailing lists for Reverse Mortgage prospects in their area. Lists can be selected by homeowner age, current home value, and amount of equity in the home.
Dale “DataDale” Filhaber is President of Dataman Group Direct Mail & Telemarketing Lists, a direct marketing company based in Boca Raton, Florida. Dataman Group was founded in 1981 and has provided thousands of clients across the country with accurate, high quality direct mail & telemarketing lists.
Dale is Past- President of the Florida Direct Marketing Association and has been active in the Direct Marketing Industry in South Florida for many years, serving as a member of the Florida Direct Marketing Association Board of Directors for the past 18 years.
DataDale, as she is called in the industry, is well known in the Home industry, where she has been a guest lecturer on Marketing at several WQA conferences as well as many national and regional conferences in the industry.
In addition, she lectures at many local colleges, industry and marketing events including the Direct Marketing Association, the Florida Association of Non-Profits, American Marketing Association. She has published numerous articles about Marketing in the Water and Home Industries and is the author of “Ask DataDale”, a popular blog for the direct marketing community.
For further information, she can be reached at dale@datamangroup.com.
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