Make Use of Case Studies to Further Explain the Benefits Others Have Received using a Reverse Mortgage
by Sam Collins

Testimonials and Case Studies are strong tools for making a justifiable reason why your senior prospect would consider doing a reverse mortgage.  Below is an idea (example) of one such case study…I am sure you have your own and could modify this approach for your own market and situation.

Reverse Mortgage Case Study
Julia J, 78, thought about moving after a stroke limited her husband Tom’s mobility. Stairs made it hard for him to get in and out of their house, and even though they both enjoyed gardening and bird watching, there was so much yard to take care of.

On the other hand, their ranch house was in good repair and completely paid for. It was a great location was within walking distance of a grocery store and drug store and their church. Their daughter lived just ten minutes away, and the neighborhood was filled with friends, old and young, who watched out for each other. A perfect neighborhood.

The J’s knew they could continue to live in their home if they made some modifications.  They were leery, though, because of the cost and their limited source of ready funds. Since retiring, they’d gotten along on their Social Security payments and Tom’s pension.  Their health care costs were ballooning, however. Jesse didn’t want to lose their home if it became impossible to make monthly payments. They started looking for a new place to live. Then they read about “reverse mortgages”.

The J’s qualified for a reverse mortgage of $150,000. They used $30,000 to have ramps installed, to replace the bathtub with a walk-in shower, and to move their flower gardens into raised beds that could be reached from sitting on the edge or from a wheelchair.

They’re going to take the rest of the money as a line of credit that they can draw on as needed.  They will use it to pay for yard care and housekeeping assistance, for medical costs and for occasional treats, especially like more frequent visits to family and friends living elsewhere. And, don’t forget the grandkids.

“It’s so reassuring to have this cushion,” says Mrs. J, “and to know that should something happen to either one of us, the other can live here as long as they’re able.

“Our children have always loved this house for the memories it holds,” she adds. “Now they love it even more because it enables us to live the way we want-independently and comfortably.”
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Challenge yourself to recite your own stories. Put them in the press releases. Add them to your web site. Write an article for the senior center. Spread the word to your professional contacts. Of course, always seek permission from your client’s.

 If you want to see 62 real life stories, check out this book available to REMALO members and written by real reverse mortgage loan officers.
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Remember, keep moving forward to stay ahead in reverse.