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Reverse Mortgage Success Story: Bill - YouTube
Channel: Reverse Mortgages by Tim Oddo
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because we were a little bit of a hard
sale initially but once it made sense it
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was like holy
holy toledo this is this is the best
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thing we could possibly do
to make our lifestyle better and give us
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security and peace of mind
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hi there i'm Tim Oddo reverse mortgage
specialist
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at with yoda group at leader one
financial it's
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my privilege to introduce to you one of
my uh
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great clients and a friend of mine this
is bill
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i helped bill and his wife gene with a
reverse mortgage
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so i really want him to tell his story
today and tell you what it's meant to
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him so uh welcome bill
oh thanks tim uh the big thing is
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in general the reverse mortgage for us
has been
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one of the best decisions we ever made
it was a great financial decision
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but the big thing is it gives us a lot
of peace of mind
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and i might have been a salesman but i
was a pretty hard sell
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and gene and i both were saying hey
we've heard about these things and we
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don't know
after about the second visit with him it
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was like oh my goodness uh it sounds
like too good to be true
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and it almost is because we've
freed up our financial portfolio
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we were able to do stuff we weren't able
to do before
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we don't have a monthly uh mortgage
payment
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right uh the bank account is is
increasing
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uh and we're able to travel those kind
of funds for us are going to enable us
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to have
a better lifestyle and um when we
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when we got the reverse mortgage we were
really looking at
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maybe buying into another home
downsizing
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and downsizing seemed like a good bit
until we found like it wasn't
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necessarily down pricing
and we're going to be moving into an
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area that we didn't know anybody and we
love our neighborhood and love our home
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and uh we didn't like our house payment
so we thought why should we move uh to a
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place we don't know about and have to
start all over again just to avoid a
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house payment
right so tim comes along and you know
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explained to us uh several times
you know because we were a little bit of
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a hard sale initially but once it made
sense it was like holy
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holy toledo this is this is the best
thing we could possibly do
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to make our lifestyle better and give us
security and peace of mind
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and it has it's been a wonderful
decision for us
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and i suggest anybody that that even
thinks about it
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learn about it check it out get more
information that's the big thing people
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just don't understand what it can do
because
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in the past people said oh reverse
mortgage it's not like that anymore it's
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a financial tool
yeah for the right people that's right
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and it really does i mean it's made our
life
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so much better and i thank you for it
thank you thank you bill
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i mean one of the things that stuck out
with me to uh
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from you to me bill is that you know one
of the things you said to me
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early on was that it's a it's created
more monthly cash flow for you
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absolutely so you have more you've got
leftover cash at the end of the month
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you know when you're on a fixed income
that's super important
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right oh goodness yeah i mean we were
looking at our monthly bills and
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excuse me my wife has a lot of medical
issues
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and we have all kinds of meds and stuff
like that so living on a fixed income
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right now and being a caregiver it's
been tough
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yeah but when we looked at all the
numbers we thought my goodness
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uh we can avoid the house payment don't
have to move
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yeah have extra monthly cash every month
and
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our equity is going to be there and when
we need it we don't have to take out a
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home equity loan or
line of credit or something like that
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and have another payment
and we need cash so it's just been
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unbelievable too
and monthly watching our checking
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account
that they're in and grow and stay the
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same and being on a fixed income
has been wonderful i mean it's been it's
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been the best financial decision we've
made and uh
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i i think probably ever especially at
our age yeah when you're
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when you're in that retired or
semi-retired you know uh
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time of your life you know another thing
you said off camera was about doing
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new landscaping i mean oh yeah you guys
you and gene have a beautiful home and a
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great neighborhood
but this uh you were able to do some
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landscaping and not have the stress and
be able to know that like look this is
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right the landscaping thing really came
about because
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we were talking about okay let's move
the new home not to worry about fixing
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up for all home
right start fresh uh we decided to stay
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and now the nice thing is all i have to
do is say hey i think we'll
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we'll we'll do that landscaping we've
been putting off for 10 years that's
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right
and not have to worry about it and it
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looks great so we're fixing up
our our our dream home is what it is
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we're making our dream home even better
and staying there and when we looked at
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move in one of the decisions that we
were making was okay let's move into a
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small home or a condo in a neighborhood
you know we don't know and then we
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looked at the over 55 communities
and we thought why move to that kind of
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community
when the grandkids can't come over yeah
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freely
and like they can now in our
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neighborhood they can play at the pool
they can do all those same things we
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have the extra room for them
we don't have to worry about downsizing
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now you know making sure the grandkids
can have
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their space and sleep over and stay as
long as they want
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we're staying in a home that we're so
comfortable with and my wife having had
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medical issues
is so happy and secure to be at home
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and not have any financial issues yeah
they're gonna
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encumber us or uh not give us a peace of
mind that we wanna need at our age
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that's right that's right yeah i know
and finally it has been a nice thing
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because because of gene and because of
some of the health challenges she's had
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it's been so nice to be able to let her
stay
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where she's comfortable right live in
her home and and have that peace of mind
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not be
frustrated or worried or stressed out
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with moving or
right and just changing change in making
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major life changes
so that was a big deal because with all
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the issues that she had she said
just to be able to come into her bed and
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her home and her neighbors
yeah you know they check on her all the
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time and uh
we have a great place it's like our
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forever home that's we wanted to stay
there
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but we know that if it comes to a time
where we
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can't stay there we just sell a home
cash out and go somewhere maybe to an
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assisted living facility or something
and still to have that equity still just
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sitting there and it's increasing it's
like every month i look at the numbers i
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go
oh we took money out but a lot of credit
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is
still growing a little bit i mean how
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did that happen yeah that's right
thank you tim yeah it's a pretty good
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deal
i will say it's really an underutilized
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product it's the
it's the it's a total no-brainer if you
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have equity
and you want to live in this home for
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the rest of your life for as long as
possible
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this just alone it just can't be beat
and so it's a
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it's an honor having you here bill um i
consider you one of my friends
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bill talked us into getting a real fancy
coffee machine here at the office even
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i mean you know this guy does it all and
so anyway
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we uh just and what sales guy brings you
bagels on the second sales call to your
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home
you know a dozen bagels and sat down had
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coffee i sold him a coffee machine
he brought me bagels yeah he made one of
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the best life decisions that i've ever
made
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my wife and i are so happy so seriously
tim thank you for all your help you've
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been a great asset
and a great friend thank you really
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appreciate i feel the same way about you
so anyway if you have any questions
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you want to know more about this great
loan and what it can do in creating more
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financial peace
of mind please don't hesitate to reach
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out tim odo
reverse mortgage specialist at the auto
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group with leader one financial
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thanks
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