If you saw your retirement account drop by 10% in a single month, you’d probably be on the phone with someone by noon asking how to stop the bleeding. You wouldn't just sit back and watch your hard-earned savings evaporate.
Yet, for most of us, our home is actually our biggest "bank account." In fact, for people over 62, the house often makes up about half of everything they own.
Right now, especially here in Colorado, home values are cooling off. That "wealth" you've built up over decades is literally shrinking, but because we don’t see a ticker symbol for our front porch on the news every night, we tend to just let it happen.
Think of a reverse mortgage line of credit like a safety net you weave while you’re still high up.
When you set up a line of credit today, the bank looks at what your home is worth right now. By doing that, you're essentially "freezing" a portion of that value for your future use.
If the market keeps dropping, It doesn't matter. Your line of credit is already set based on today's value, and the amount of cash available to you is actually guaranteed to grow over time—regardless of what the neighbors' house sells for next year.
If the market bounces back, You still own the home. You still get all that upside and appreciation. You haven't lost a thing.
Most people wait until they need the money to look at a reverse mortgage. But by then, if the market has crashed, you’re borrowing against a much smaller number.
Establishing this now is a defensive move. It stops the volatility of the housing market from dictating how comfortable your retirement is going to be. It’s about taking control of your biggest asset so you aren’t just "hoping for the best" while the market shifts.
You worked hard to build that equity. Isn't it time you made sure it stays yours?
Representing: Enduro Mortgage, Colorado Mortgage Company Registration
NMLS# 2127434 Regulated by the Division of Real Estate
EQUAL HOUSING OPPORTUNITY https://nmlsconsumeraccess.org
