Podcast: Download
Reared in southwest Pennsylvania, our guest, Terry Bowser earned a degree from Indiana University of Pennsylvania. While vacationing in Myrtle Beach, Terry fell in love with the south, and decided to stay. Terry has been in Atlanta for 30 years and works as a Reverse Mortgage Advisor for CBC National Bank.
Reverse Mortgages have been around for over 30 years, and though originally unregulated, today’s reverse mortgages are safe, regulated and insured by the federal government. These “home equity loans” allow the homeowner to tap into their home’s equity, while allowing them to remain the holder of the deed. Payment–free, a Reverse Mortgage is a non-recourse loan and can be used for any purpose.
A new “retirement benefit” of a Reverse Mortgage is the “Reverse for Purchase” which allows the retiree to purchase a new primary home and initiate a Reverse Mortgage all in a single transaction. This is especially attractive to seniors relocating to be close to their children. They own their home and have the cash from the Reverse Mortgage to use for anything from helping pay for the grandchildrens’ education to funding their home care and practical needs.
To hear more about reverse mortgages or CBC National Bank, please contact Terry Bowser at 404-642-6021, or email him at terry.bowser@cbcnationalbank.com.
We want to thank Griswold Home Care for sponsoring today’s show. Griswold Home Care has been a preferred provider of high quality, affordable in-home senior care in Atlanta for more than 20 years.
