Inflation has been on the rise, with rates recorded at 7% in 2021, 6.5% in 2022, and 4.4% so far in 2023. Despite these numbers, the Federal Reserve has opted to pause any increases in interest rates. This surge has resulted in an almost 18% increase in our cost of living. Current interest rates stand at 6.5% for mortgages, 7% to 10% for auto loans, and a steep 18% to 24% for credit cards. Economic challenges are evident across the US, Canada, the UK, and Europe. If you're feeling the pinch, there's hope.
Today's guest, Angela Wyckoff, is here to guide us through these turbulent times. She discusses the issues that seniors are experiencing with inflation and the cost of living going up, how a reverse mortgage works, how it can help them, when it may not be a good idea, and more!
Angela Wyckoff is not just a Reverse Mortgage Advisor, she is also a wife and mother to 3.
A Reverse Mortgage is extremely personal, and a loan specifically customized to help seniors from outliving their money and to be able to age in place safely.
With over 20 years’ experience, Angela prides herself on educating seniors and walking them through the often “intimidating” task of how to effectively set up a Reverse Mortgage to best fit their needs.
95% of her business comes from referrals, past clients, as well as real estate and financial professionals. Two-thirds of her clients understand the value of a Reverse Mortgage and WANT one, before they NEED one.
The TRUTH is, any licensed Loan Officer can do a Reverse Mortgage. The KEY is knowing how to properly structure it.
Many Loan Officer’s do not take the advanced training necessary to ensure your needs are met. Sadly, many of the recommendations given, are based on the commission possible vs what is best for the senior.
Having an Advisor, like Angela, is the key to getting the Reverse Mortgage that fits your goals from the start.