Solving for a Common Problem with Your 62+ Buyers

By Ann Marie Steman, Platinum President’s Club Loan Originator, Mutual of Omaha Mortgage

Dick and Adelle came to me with the idea of selling their existing home that they loved. They had created a lot of memories in the home. It was built in the 1930’s and had charm that they thoroughly enjoyed over the past 20 years. They shared with me the money they had put in the home like windows, flooring, a new roof, upgraded plumbing and electric. It also had the master bedroom on the 2nd floor which was becoming more challenging with every year they aged. They were out of money to continue to maintain this aging home and felt discouraged.

They also shared with me the new community that was going in right down the street with one level living, low maintenance, community clubhouse and pool and all within walking distance of some of their favorite places they had come to love! They were really excited, but couldn’t cope with the fact that it would take every single penny to get into that brand new beautiful home that they would get from the sale of their existing home plus some! 

They had a daughter that needed their financial help and was tugging at their heart strings. They owned 2 vacation properties that had been in their family for decades and was considering selling one or both of those to help out their daughter. This would mean they would have to stay in their existing home even though it didn’t meet their needs any longer.

This posed a huge dilemma for them, and they didn’t think it could be solved until they learned about the Lifestyle Home Loan!

Honestly, when I shared the program with Dick and Adelle they were very skeptical. They thought “sounds too good to be true”. Dick is an analytical person and met with me several times going through the numbers and asking questions.

They breathed a sigh of relief when we got them approved to use the Lifestyle Home Loan to purchase their next home! They bought that beautiful new home down the street with about half the proceeds from the sale of their existing home. The took the other half of the proceeds and paid cash for a condo for their daughter and grandson….. AND they were able to keep the 2 vacation homes in their family and pass it on to their children!

Dick will tell you “The Lifestyle Loan Program” changed my life and the lives of our children and grandchildren for decades to come! 

Don’t wait to share this story and many others with your prospects that are in similar situations! Having them make a decision WITHOUT knowledge of this program isn’t only going to affect them but future generations!

If you want to unlock the secret to building a profitable pipeline in 2022 and beyond, head over to to request a copy of our brand-new Builder Blueprint.

*The Lifestyle Home Loan is a Home Equity Conversion Mortgage for Purchase. Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees Mutual of Omaha Mortgage, Inc. dba Mutual of Omaha Reverse Mortgage, NMLS ID 1025894. 3131 Camino Del Rio N 1100, San Diego, CA 92108. Subject to Credit Approval. These materials are not from HUD or FHA and the document was not approved by HUD, FHA or any Government Agency. For licensing information, go to: Oregon Mortgage Lending License ML- 5208; Charges such as an origination fee, mortgage insurance premiums, closing costs and/or servicing fees may be assessed and will be added to the loan balance. As long as you comply with the terms of the loan, you retain title until you sell or transfer the property, and, therefore, you are responsible for paying property taxes, insurance and maintenance. Failing to pay these amounts may cause the loan to become immediately due and/or subject the property to a tax lien, other encumbrance or foreclosure. The loan balance grows over time, and interest is added to that balance. Interest on a reverse mortgage is not deductible from your income tax until you repay all or part of the interest on the loan. Although the loan is non-recourse, at the maturity of the loan, the lender will have a claim against your property and you or your heirs may need to sell the property in order to repay the loan, or use other assets to repay the loan in order to retain the property.

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