In this episode, Scott Kooiman chats with Steve Farrington from Unity Home Loans, debunking myths and shedding light on the true workings of reverse mortgages. From the misconceptions surrounding ownership to credit requirements and inheritance, they unravel the complexities of this financial product, aiming to provide a comprehensive understanding. With insights, anecdotes, and industry expertise, this episode demystifies the concept, offering a clearer picture of the possibilities and considerations related to reverse mortgages.
0:00 - Intro
2:25 - M1 - They’re Going to Take My House
3:09 - M2 - I Need Good Credit
4:03 - Solutions
4:39 - M3 - I’ll Be Upside Down
6:46 - M4 - I Won’t Be Able to Sell
7:49 - M5 - Limits to What I Can Use Money For
8:57 - M6 - My Kids Will Have to Take Over the Loan
10:34 - Call Us First
11:05 - M7 - They’ll Force Me Out
13:02 - M8 - Predatory Lenders
17:28 - M9 - I’m On My Own
18:48 - M10 - If I Live Too Long, I’m Out.
