Senior Calls Reverse Mortgage A Blessing

imageI always like to post about positive local press coverage so I wanted to point out that Virginia based WDBJ7 TV recently ran a story where a senior called her reverse mortgage a blessing.  Discouraged by the negative press reverse mortgages have received, the woman wanted to clear up the misconception that reverse mortgages are the governments way of trying to take your home.

WDBJ7 TV’s Hollani Davis sat down to talk with Mary Clark who said the thought of losing or selling her home she’s lived in for 44 years was scarier than applying for a reverse mortgage.  Clark recently took out a reverse mortgage and was able to set aside a lump sum from her loan to help with medical and other monthly bills.  “It’s a relief.  A big relief to me,” said Clark.

Clarke’s daughter is also interviewed and she thinks more seniors are going to be in the same position as her mother because of high gas prices and other living expenses going up.  This makes a lot of sense and I’ve been hearing from RMD readers that the higher cost of food and skyrocketing energy bills are are two of the biggest reasons seniors are now looking at reverse mortgages.  To watch the video click the link below.

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