Reverse Mortgage Story of a Closed Loan
In this video, Ed Morba shares a story about a teacher, Gloria, in Westfield who needed a reverse mortgage. Gloria, who was 82 years old and unmarried, lived with her sister in a house. However, when her sister passed away, the teacher lost her source of income. To help her, Family Home Funding Corp decided to do a reverse mortgage and calculated her expenses for the next 12 years. The reverse mortgage would cover all her needs until she turned 94. During the loan process, Ed assured her that she no longer needed to worry about money. The teacher even asked if she could buy a new couch, to which the narrator encouraged her to buy a good one.