Bob’s HECM Success Story: From Mortgage Stress to Stress-Free Retirement

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Hey there, folks! Rick here, your Hard Working Mortgage Guy. 🛠️ Today, we’re diving deep into a story that’s more uplifting than Bob Marley’s “Three Little Birds” and as game-changing as swapping your old cassette tapes for Spotify. Buckle up!

The Backstory

Meet Bob—a retiree, a country music lover, and a man who thought he had his finances sorted until he didn’t. Ever had that “Oh snap, how am I going to pay for this?” moment? Yep, Bob was living it, and not in a good way.

The Dilemma

Bob loved his home, and his mortgage was as familiar to him as an old country song. But the payments? They started to feel like the annoying static you get when you’re trying to tune into your favorite station. He knew he had to do something, but selling his beloved home felt like giving away his favorite guitar—just unthinkable.

The HECM Magic 🌟

That’s where we come in, folks! After a chat about his options, we arrived at the Home Equity Conversion Mortgage, or HECM. No, it’s not a magic spell, but it might as well be. In layman’s terms, it’s a type of reverse mortgage that is insured by FHA and heavily regulated that converts home equity into cold, hard cash. And guess what? No monthly payments are required! Sure you can make monthly payments but they’re not required and the loan doesn’t become due as long as you continue to live in the home as your primary residence and meet other requirements such as paying your property taxes, homeowners Insurance, and homeowners association dues, etc. You also have to pay for the maintenance and upkeep of the home…but you want to do that anyway.

The Aftermath

Bob now lives a life sweeter than a Foster Brooks routine. He’s got more financial freedom, he’s enjoying his golden years, and he didn’t have to sell his house to make it all happen. If that’s not a win, I don’t know what is.


If you’re sitting there wondering if this could be the game-changer you need, why not reach out? Let’s see if an HECM is the financial encore to your well-played life.


Legal requirement: Home must be a primary residence, 1 to 4 family home. Rick Ripmas NMLS #664589, Advisors Mortgage Group, LLC. NMLS #33041, Not all borrowers will qualify, Some restrictions apply.

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