Home Equity Retirement Specialist
Trumbull, Connecticut 06611
I decided to promote reverse mortgages after a friend told me that he got a reverse mortgage and it saved his home. My response to his news was negative because I had only heard bad things about reverse mortgages. But I did admit to him that what I knew about reverse mortgages was hearsay as I had never done any of my own research. I did some research with the aim of helping him get out of the loan.
What I learned surprised me, the HECM reverse mortgage was very safe with, a hallmark feature, “no required monthly payments.” Without a closer look, for many people this probably sounds too good to be true and when you couple that notion with bad press, it’s not surprising that there is fear and apprehension about using the product.
I describe the loans’ repayment flexibility as like having a rich aunt who offers you a loan that you don’t have to repay until 12 months after you move, sell your home or pass away. It’s part loan and part gift. The reverse mortgage simply creates this opportunity for all qualified homeowners 62 and older who don’t have a rich aunt.
And in 2014, to remedy the serious product deficiency resulting in many widows having to sell their homes after their spouse died, HUD updated its regulations to ensure that eligible non-borrowing spouses can remain in their homes after the death of their spouse. The press however seems to stuck pre-2014.
I come to the mortgage business after 3 decades in corporate strategy and business development. I started by career as a Structural Engineer working in construction management and commercial real estate development.
I have a B.S. in Civil Engineering from Tufts University and an M.B.A. in Marketing from the University of Chicago. I have been awarded 3 U.S. patents and I volunteered as a mentor and coach for over 10 years with Hartford high school students competing in the National Foundation for Teaching Entrepreneurship (NFTE) business competitions.
I’ve been a resident of West Hartford for over 25 years and I enjoy all things outdoors, especially playing tennis and gardening.
Common Examples of What a HECM Can Help You Do
- Purchase a new home to fit your lifestyle needs
- Reduce monthly expenses by paying off existing mortgage
- Enhance your cash flow
- Create an emergency fund
- Fund for home repairs or upgrades
- Fund the expense for caregivers, live-in nurses, or other in-home care
- Protect your retirement portfolio
- Reduce monthly expenses by paying debt
- Incorporate housing wealth into your retirement plan
- Increase cash to help ensure monthly bills are paid
- Reduce the burden of out-of-pocket healthcare costs
- Have the cash for a large expense, such as a vacation or vehicle