March-April 2021

Financing Seniors’ Independence ServingUtah and Idaho for Over 20Years We opened our doors in 1999 to provide local homeowners and those wishing to be homeowners good quality mortgage loans with no hidden surprises or costs. We pride ourselves on being customer oriented and find loans that are tailor made for our clients. We added the reverse mortgage loan to our great line of product offerings and have been providing the people of Utah and Idaho this loan as another mortgage available to meet whatever financial need arises. We continue to remain committed to our clients’ mortgage financing needs, and our variety of all residential mortgage loan products makes us a great company to add to your network of professionals. FSI Mortgage Independence Square 111 East 5600 South • Suite 102 Murray, UT 84107 • NMLS #4398 www.fsimortgage.net 1-800-808-3066 In Reverse Each person is going to have his or her own desires and expectations for lifestyles. The homework can be daunting, but there are plenty of places to get started. Organizations, such as the National Council on Aging, have come up with some nifty tools to help people build a foundation of knowledge. People can always connect with a trusted financial planner to chart a course. And the educational journey might lead to a loan officer, who can advise on equity-release options. Vernon and others point out that loan officers who understand this process and the need for better-educated citizens will provide the best advice to their customers. Loan officers don’t need to be experts in Social Security, Medicare, annuities, self-directed retirement plans and the like. But if they understand how the various pieces might interconnect and how a reverse mortgage can be part of the solution, then they are offering a true service. Nearly all the experts point out that retirees—even those who think they have planned well—often have expectations that don’t match resources, or they encounter an unantic- ipated twist that derails the best-laid plans. So, while the Plan Bs, Plan Cs and Plan Ds will vary, there is no reason why a reverse mortgage can’t be factored in. I have been reading, writing and thinking about retire- ment for decades. In fact, when I began my career in the mid-1980s, I knew that a fixed retirement was going away for most workers who are not in the public sector. I was excited about 401(k)s and IRAs, which were relatively new at the time. A journalism career, at least back then, often took writers and editors to jobs in new communities as they advanced along, and those financial tools allowed them to build savings along the way. I have the added ben- efit of enjoying my work, which the experts point out is a good plan, too: staying employed if you wish, and if you can, for as long as you can. I always considered my home as part of my overall plan, as well. To be honest, a reverse mortgage might not be right for me. But, like carpenters with large tool bags, the tools are only good if they know how to use them. That is where loan officers who understand the larger picture can truly help. They can direct peo- ple on how a reverse mortgage can be used at just the right time for the right result. One such person is pro- filed in this edition’s CRMP: Across the Kitchen Table (p. 16). Lyn Coffin explains how she sits with clients ini- tially and just listens, trying to best understand how a reverse mortgage can meet their needs. Coffin considers herself a counselor, offering information about reverse mortgages that might come in handy in the future, if not right away. That is called preparing for a storm outside, because you know it will come, even if you don’t know when. In Reverse continued from page 3 4 REVERSE MORTGAGE / MARCH-APR I L 2021