Seniors Live a Better, Safer Retirement with the Heartland Reverse Mortgage

Heartland Finance has helped seniors live better retirement with their reverse mortgage, especially on International Day of Older Persons on Friday.

The aging population can benefit from reverse mortgages, especially those who retire with debt. The process involves borrowers using the equity in their home as collateral to generate income to fund their retirement or to transform a home to be more suitable for seniors.

Having this type of financial freedom is important since 91% of elder abuse occurs in the home, with 67% of the acts committed by the person’s son or daughter, according to a report by Senior Rights Victoria.

As such, Heartland Finance provides certain guarantees to ensure that customers are free from harm and coercion throughout financial decision-making processes and the life of the loan.

“We are looking carefully for any signs of potential financial abuse or other forms of abuse,” said Sharon Yardley, operations manager at Heartland Finance. “Our employees are trained to identify any potential signs of vulnerability as well as situations where there is no clear benefit to our client. As part of our application process, we also ask if the application is made under pressure or undue influence. “

Clients are encouraged to seek independent legal advice as part of the application process to understand the deal they are entering into.

In addition to this protection, Heartland also offers a promise of lifetime occupancy, no negative equity guarantees, flexible loan repayments, an equity protection option, and a one-month cooling off period.

If a client is the victim of financial abuse, Heartland Finance has the right to delay or deny the loan, to seek permission to speak with other family members or, in extreme cases, to contact the police for organize a social visit or a fraud check.

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