CRMP: Across the Kitchen Table One accountant referred an older woman who came to Kiel in tears. The woman and her sister owned a home together, but the sister had Alzheimer’s disease and went into a care facility, taking her resources with her. The woman’s home mortgage exceeded her Social Security income. Kiel helped the woman secure a senior citizen discount on her property taxes, and a Life Expectancy Set-Aside covered her insurance payments. A cash payment provided the financing to spruce up the home with new carpets and paint, and a $100,000 line of credit helps supplement her Social Security. “That allows her to live in her sweet, beautiful home with her little, sweet dog and live a comfortable life on her Social Security income,” Kiel says. “That example illustrates how beautiful reverse mortgages are.” Now that reverse mortgages are getting positive media attention, the potential audience has grown to include financially savvy people, Kiel says. “With our economy today, a reverse mortgage is more important than ever,” she says. “Older adults don’t have as many options. Their equity is locked up in their homes, and they don’t want to sell, so the answer for many is a reverse mortgage. It’s a sound financial move to use the equity in their home rather than draw down their investments for those that are lucky enough to have them.” The staff still includes the Kiels’ daughter, who continues to work on conventional mortgages while managing the business. Kiel Mortgage is associated with CMG Home Loans. Looking back on her career, Kiel says she feels blessed. “I have to shake myself when I think that, over the years, we have put hundreds and thousands of people into homes, and we have created wonderful income for hundreds of people,” she says. Partnership you can trust. Dedicated to never competing with you - your success is our success. Ready to experience the difference? Visit Celink.com Deep Industry Experience 96% Borrower Satisfaction Rating Independence and Alignment with Clients Robust Specialized Technology Reverse Mortgage Is Our Core Competency © Celink. All rights reserved. NMLS #3020 - http://nmlsconsumeraccess.org. Compu-Link Corporation dba Celink (WA license# CL3020 and 603 018 607) REVERSE MORTGAGE / JULY–AUGUST 2023 15
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