Episode Description:
Many older homeowners say they want to age in place for as long as possible, but as the years go by, they aren’t sure if they’ll have enough money to cover their daily expenses. They may have substantial equity in their homes: but find themselves “house-rich and cash-poor.” One financial tool to generate more cash flow, retirement experts say, is a reverse mortgage. This instrument has been around for decades but is still misunderstood by many consumers.
In today’s episode, Tim Kennedy, a Certified Reverse Mortgage Specialist, explains how homeowners can use reverse mortgages as a tax-efficient retirement income tool, while dispelling the myths about these products. The host of a weekly radio show, “It's Just A Mortgage,” Tim will describe the various types of reverse mortgages, how these loans work, and how consumers can use them for different needs, including monthly expenses, renovations, or purchase of another property. And he’ll offer an update on the latest events affecting the housing and financial markets, what they mean for consumers right now— and what their impact might be on our retirement years.
Guest Description:
Tim Kennedy is the Director of Business Development for U.S. Mortgage Corp. and a Certified Reverse Mortgage Specialist. He is the host of a weekly radio show, “It’s Just a Mortgage,” every Monday at 3 p.m. EST on Long Island’s 103.9 FM or online at https://linewsradio.com/, where he talks with a variety of guests and explains the features, benefits (and myths) about reverse mortgages. Tim is a member of the Board of Directors for the Long Island Rowing Club and his family serves as a host family for The Fresh Air Fund each summer.
Contact: tim.kennedy@usmortgage.com; or call 631-750-0520
Facebook: https://www.facebook.com/timkenn
Linked In: linkedin.com/in/timkennedy007
Twitter: @timkennedy1003
To listen to Tim’s weekly radio show, “It’s Just a Mortgage,” every Monday at 3 p.m. EST, click https://linewsradio.com/weekdays/its-just-a-mortgage.
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