On Dec.12 2010,me and my loving wife will be celebrating our golden wedding anniversary.My heart is filled with joy and pride knowing that me and the one only woman in my life have successfully strengthened and continued our vows for 50 years. Even though we were not blessed to be given children all these years as we tried, still having ourselves together living,supporting and giving unconditional love to each other made our life worth for its purpose. As I recall our younger years before we got married,I met my wife Sarah for the first time during my business trip in Kuala Lumpur. I was a director then working for a global bank with a country office in Malaysia. Sarah was working in a consultancy firm. It was during a business meeting in Concorde Hotel,Kuala Lumpur where we first got introduced with each other. Then the rest is history.
I am American living in my hometown Jefferson City,the capital of Missouri. Right after I proposed to Sarah, I immediately asked her to move with me in my country so we can start our own family together. Without any hesitation from her side,we finally made our way back home. Now that I am turning 75 and her 71, we are experiencing some financial shortcomings as we are not rich and just been living modestly all these years. One of my good old friend in Texas had suggested me to seek for financial measures by means of applying for a Reverse mortgage. I didn’t fully understand the concept behind a reverse mortgage until I went personally in the bank to inquire about the same. One of the bank officers explained to me briefly that a reverse mortgage is a type of mortgage (opposite the idea of a traditional mortgage where the mortgagor who is a borrower pays the mortgagee which is a bank as a payment for a loan made) especially created to help the seniors to have access to their home’s equity without the burden of paying a monthly mortgage fee. Hence, in a reverse mortgage,instead of the homeowner pays for a monthly fee to the bank, the bank is the one actually paying the homeowner. The bank, in return of the given borrowed money to the homeowner charges it against the equity of the home.