Episode 18 Debbie Bloyd Tells Us the Truth about Reverse Mortgages

Today Leafy is joined by Debbie Bloyd, CEO of DLB Financial Services.  Debbie has helped clients from across the country create wealth and peace of mind in the investment, mortgage and insurance industry for over 20 years. She is also the radio host for her show Money Strategies with Debbie. In this episode, Debbie helps us understand the ‘ins and outs’ of reverse mortgages. She explains that every state has a slightly different requirement, but for the most part, you must be 62 years old and a home owner. This mortgage loan is through the FHA and is a great option for retirement aged people who have unexpected expenses (i.e. medical) and are running through their IRA, pension, 401K, retirement savings.  Within this particular loan, there are no payments involved, except for your monthly mortgage insurance payment and your taxes.  The house is always still in your name and when you pass on, your heirs still get the money out of the house when they go to sell it. If you should unfortunately pass with a balance on the mortgage, the FHA takes the remainder of the loan because you have been paying insurance on the loan the entire time. This is a very interesting and information packed episode that you will want to listen to for your parents and yourself to consider a reverse mortgage.

To find out more about Debbie Bloyd, visit http://www.moneystrategieswithdebbie.com

Interested in Investing and want to set yourself up for success? Visit us at http://leafylegalservices.com