Darryl Culberson (left) qualified for a reverse mortgage and will now be available at the next seminar hosted by Dick Dockstader (right) of Seniors Serving Seniors.
Darryl Culberson doesn't always read the Fresh Ink insert in his Gazette, but last month he did. The article on Seniors Serving Seniors and their outreach seminars on reverse mortgages caught his attention and today, because of it, Darryl is resting easier.
Unlike many of the people who inquire about the free informational classes explaining the reverse mortgage, Mr. Culberson already knew the facts about this government insured option for homeowners age 62 and older. "I'd been researching them for a couple of years already," he says. He had even attended 2 seminars on them prior to meeting Dick Dockstader, reverse mortgage specialist and founder of Seniors Serving Seniors.
"But the seminars were held by banks, and there didn't seem to be any real engagement between the presenter and the audience. It always seemed to be just about the numbers," says Darryl. Still, he knew the reverse mortgage was the right product for him. "I love my house and I do not want to move. But in this uncertain economy, as the value of my investments is dropping, I was watching my retirement savings and income diminish."
Darryl's career history is vast, ranging from running restaurant chains to carpentry. Now retired, at age 64, his fixed income and savings were going to his mortgage payment instead of to him. Motivated by the Fresh Ink article about Dick and Seniors Serving Seniors, Darryl gave him a call.
"Right away it was different from any of the other programs," Darryl recalls. "Dick talked to me on the phone and then came to my home to talk more. It was much more comfortable than being in class in the bank with alot of strangers. He puts people at ease and he knows the business inside and out."
Darryl was able to obtain a reverse mortgage, which allows him to eliminate his monthly mortgage payments completely. He now knows his funds will not be depleted and "My retirement income is finally mine," he says happily.
Reverse mortgages allow a qualified homeowner to convert a portion of the home's equity into funds to use as they wish. No repayment of the funds is necessary as long as the borrower lives in the home. The real estate market remains uncertain, but the FHA insures that the borrower's heirs will never owe any more than the value of the home, regardless of the amount of your reverse mortgage.
Darryl has volunteered to attend future seminars hosted by Seniors Serving Seniors at their office at 1155 Kelly Johnson Boulevard. The benefit of having an informed recipient available to answer questions will set these seminars apart from any other classes available.
The classes are always free, but reservations are a must. The next one is scheduled for
Tuesday, July 26th
1155 Kelly Johnson Blvd.
CALL 719-599-7609 for reservations.
"Dick lets people know about the options," says Darryl. "He's never pushy or just out to make a sale. He's genuinely concerned and wants to offer the best solution for each person. Sometimes it's a reverse mortgage, but if it's not, he'll be the first to tell you."
"We're always happy to talk to folks who just want to learn more. We will meet in person or send you information in the mail, whatever works best for you," says Dick Dockstader. "That's what we're all about. As I've said before, a reverse mortgage is a blessing for many seniors."