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(21/07/2023)

Reverse Mortgage NSW: Loan Scenario of the Week

Amelia (Aged 75) lives alone in her home in Coffs Harbor. She relies on the Centrelink Aged Pension and a UK Pension for her income.

She originally got her Reverse Mortgage to repay a mortgage and credit cards that had built up over time, allowing her to free up her cash flow and enjoy a better lifestyle. She also redid her bathrooms and had her house repainted with the initial Reverse Mortgage.

She would now like to get an increase on her Reverse Mortgage to replace her aging kitchen and have funds for future expenses. This loan has allowed Amelia to continue her lifestyle in a manner that she is comfortable, rather than just enduring it.

(Names, locations, amounts, & other personal details have been changed to protect the client’s identity.)

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