“I Need a Favor”
I have a friend since college days, Nick XXXXXX. Lately, we’ve been talking about the viability of me building a new home for him, that would involve the Reverse Mortgage. Nick has a couple of very "personal issues” that he needs some sage advice on. I was trying to explain that you’ve probably heard every kind of “personal issue” there is and convey the idea, that by starting out with a simple meeting with you, Nick and me, answers to some very important questions would likely be provided. It is hoped that such a meeting would be helpful in providing direction to Nick, that would help him qualify for such a reverse mortgage.
It sounds almost counter intuitive, but purchasing a home using a reverse mortgage is more common than one would think, but we do it on a pretty regular basis.
This builder uses this strategy often, as his primary market of clients are “Baby Boomers”. Also, for the clients that want to purchase a new home and don’t want a mortgage payment once the home is ready for occupancy.
To be able to qualify for a reverse mortgage, the person would need to be at least 62 years of age.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.