Debbie Bloyd, a Mortgage Broker Specialist, explains how to create money for income after retirement with a reverse mortgage. When you are out of options for having income to live on then it may make sense to learn how to use reverse mortgages to help your retirement.
Debbie Bloyd has been helping clients over the last 20 years with their investments, mortgages and insurance needs. Debbie is CEO of DLB Financial Services, and helps create wealth and peace of mind for her clients across the country.
As a radio host on her show for over a decade, Money Strategies with Debbie, she hands out advice to listeners as well as making the complicated financial news easy to understand.
Her practise includes mortgages, investments, securities and insurances. Debbie is a graduate of the University of Texas and resides in College Station Texas with her two teenagers.
For those nearing or in retirement, reverse mortgages are a powerful tool. These cash-out home loans have been around since the early 1960s. With them, in America, if you are aged 62 and over you may tap frozen equity in their principal residences with a Home Equity Conversion Mortgage (HECM).
Baby Boomers who own their homes can use the HECM to create a source of cash for leisure, lifestyle or medical needs. The HECMs have also been available to help homebuyers purchase their next home subject to approvals.
These types of loans can be especially helpful to women that have been left on their own with on income and older retirees that have run out of money with their home as their only asset.
Debbie Bloyd uses her easy conversational style to talk about the benefits of using this strategy to create money for income after reitrement with a reverse mortgage.