It was great to chat with Bob Dubask today from HomEquity Bank and learn more about reverse mortgages. Clearly an underutilized but very necessary option for individuals who are aged 55 and older that need funds for a variety of reasons including paying out debt, purchasing a new home, paying for medical expenses, etc. We chatted about what it means to borrow money and not pay for it monthly, what some of the common misconceptions surrounding reverse mortgages are and some success stories of how people have used reverse mortgages to do more.
You can watch the entire Google Hangout here and see Bob explain reverse mortgages and what people should know:
Although Bob did not mention that this was his favorite quote, I decided to post it today as I have known Bob for more than 10 years and can assure you that this quote is on his list somewhere:
“The cheese is always moving” – Spencer Johnson
Click to hear the podcast version:
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