Buy a second home with proceeds from a Reverse Mortgage Refinance
Knowing the basics about Reverse Mortgages well enough to initiate different conversations and introduce new ideas can be a big competitive advantage for you and create more sales. A perfect example of this is showing how senior clients can buy a second retirement home with proceeds from a Reverse Mortgage refinance. A detailed description of how this works is at Reverse Refi and buy a second home.
Proactively share this idea when you're talking to seniors who plan to stay in their current home but may be considering a cabin in the mountains or helping out with housing for a loved one.
Seniors are bombarded with mailed information and television commercials pitching Reverse Mortgage refinance. If you're a trusted resource your senior prospects may confide in you about financial issues or a dream of buying a second home that involves a Reverse Refinance and hope you can help them "cut through the noise". A podcast showing how an agent does this brilliantly is Bevin Eustace .
By introducing the idea of leveraging the equity your clients have in their primary residence to purchase a second home without creating a monthly mortgage obligation, you may tap into something they've been thinking about or dreaming about and you may create a sale for a second home and additional commissions in the process.
