You’re listening to The Edge with Greg Hughes episode number 2. In the last episode, you learned the importance of having a trust and keeping it up to date with estate planning attorney Jason Morris.  This week’s episode takes you behind the scenes of an industry that garners a lot of negativity: reverse mortgages.

My guest, John Terveer, is the owner of CTC Financial, Inc., a mortgage brokerage that specializes in reverse mortgages.  He explains why a reverse mortgage can be a powerful and flexible financial tool for those who understand how to use it correctly.  We discuss why reverse mortgages have been cast in a negative light and which new regulations make this no longer the case.

John answers questions like:

• What is a reverse mortgage and how does it work?
• What are the advantages and disadvantages of reverse mortgages?
• What’s the secret formula that tells you how much you qualify for?
• How can someone with bad credit qualify for a reverse mortgage?
• What is the interest rate on a reverse mortgage?
• Can you really lose your home when you take out a reverse mortgage?

For show notes and additional information head over to www.HughesCapital.com/Edge.