“It gave us a nest egg – some serious money for retirement”

When CC and Marcia W. bought their last car and paid cash, the salesman said to them, “Someday I would like to be able to pay cash for a new car, just like you.”

The secret of CC and Marcia’s apparent financial freedom was the new government-guaranteed reverse mortgage program. A friend had told them about the program, so they called for information. They studied it for a few weeks, and then decided that this was exactly what they needed.

Actually they had been doing just fine for cash flow to fund their retirement. Between his military pension and their combined social security checks, they were able to meet all their obligations and have a little left over for fun and projects.

But the problem was that if something were to happen to CC that left Marcia as a widow, then CC’s pension and one of the social security checks would stop. Marcia would be left with an inadequate income for her lifestyle.

CC says that the thing he liked best about the program was that it enabled them to put away some serious money for retirement – a nest egg that Marcia could use if she really needed to.

He also liked the fact that there were no payments. “I got a new car and a financial nest egg for the future,” he said, “and I didn’t have to take on any payments.”

Said Marcia, “What I like is that this is safe. It is backed by the government. It is guaranteed. Just about every other thing we have done has caused us to lose money.