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How Reverse Mortgages Work

Andy Block

Andy Block is a Senior Loan Advisor and Personal Finance Advisor at Flagstar Bank where he helps individuals and families make wise decisions about their personal finances. His background combines mortgage banking and wealth management, allowing him to advise clients on how to make effective financial decisions that support their lifestyle and plan for the future. Andy has more than 29 years of experience in the mortgage industry and has spent the past 12 years focusing on reverse mortgages.

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Here’s a glimpse of what you’ll learn:

  • Andy Block explains what a reverse mortgage is
  • The evolution of reverse mortgages 
  • When is it ideal to get a reverse mortgage? 
  • The difference between reverse mortgages and traditional mortgages
  • Why reverse mortgages have a poor reputation  
  • Qualifications for obtaining a reverse mortgage
  • Andy explains how to refinance a reverse mortgage and how reverse mortgage rates work
  • What happens to reverse mortgages when property values depreciate?
  • The downside of reverse mortgages

In this episode…

The use of reverse mortgages has become more popular over the last couple of years. Financial advisors say that reverse mortgages can be a good financial tool if used for the right purpose. 

However, reverse mortgages are not for everybody. There are some key factors to consider before being approved for a reverse mortgage. 

In this episode of the Pillar6 Podcast, Roman Polnar interviews Andy Block, a Senior Loan Advisor and Personal Finance Advisor at Flagstar Bank, about how reverse mortgages work. Andy discusses the evolution of reverse mortgages, the differences between reverse and traditional mortgages, the qualifications for obtaining a reverse mortgage, and how to refinance a reverse mortgage.

Resources Mentioned in this episode

Sponsor for this episode

This episode is brought to you by Pillar6. Pillar6 is a wealth advisory firm for successful individuals and families with active lifestyles.

Our clients appreciate having clarity and control over their finances and the peace of mind in knowing that their financial decisions are aligned with their core values, goals, and priorities. We provide financial planning services and wealth management services.

Schedule your complimentary discovery call to talk to us.

To learn more, go to www.pillar6.com or you can email us at welcome@pillar6.com.