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#77 Using a reverse mortgage to make a significant humanitarian contribution


David Garrison
Home Equity Retirement Specialist
NMLS # 1595194
Serving the State of Indiana
p (317) 644-2595 c (765) 516-0130
e [email protected]

2169 East Rutland Lane, Martinsville, IN 46151
Corporate NMLS #1025894

The two of you have always made annual charitable gifts to humanitarian causes, and in fact provided gifts for two of those organizations in your recently updated estate planning documents. This year, you’ve made the decision as a couple to make a much larger donation to help Ukrainian refugees.  Those poor people need help now, you realize, not someday, if they are to survive the horrors of losing their homes and jobs during the brutal invasion of their country….

Your own retirement pension benefits, along with some investment income, have so far proven sufficient to cover your income needs, even given the recent inflationary spike. Still, you’re wrestling with what size commitment to make, while still preserving assets in case future medical or other unexpected costs arise.

A Home Equity Conversion Mortgage (HECM) line of credit might provide a solution, by  freeing up the equity you’ve built up in your primary residence. You can easily tap that guaranteed, growing line of credit to make a meaningful donation to charity without putting additional pressure on any of your investment or savings resources. Meanwhile, the unused portion of your reverse mortgage revolving line of credit can continue to grow.

You can free up charitable dollars to help fight poverty overseas, while preserving your own investment dollars for fighting inflationary pressures at home.