Reverse mortgages (RM) are not for everyone, but for seniors who have owned their home for a long time and have lots of equity, it may be a great option. Especially for those who have little income or retirement to enjoy in their later years, taking out a RM can provide a highly improved quality of life and make good on the term “golden years”.

I have to admit – until fairly recently, I associated the phrase “reverse mortgage” with SCAM! It was largely out of ignorance. As long as the terms are clearly explained, and completely understood by the borrower, it can be a godsend.

To provide more information about the pros and cons of these relatively obscure financial vehicles, locally renown financial consultant and radio personality, George Chamberlin, and local mortgage broker Mehran Aram are co-hosting an informational workshop 2 weeks from today on January 27th, from 6pm to 8pm at the Encinitas Community and Senior Center in Encinitas CA. The event is free, open to the public, and light refreshments will be served. Reservations are requested by calling 877-600-1130.

Maybe I’ll see you there!  By the way, this is not intended as an endorsement of reverse mortgages, nor the opinions either speaker…