Cindy Holcomb - The Reverse Mortgage Book: Everything You Need to Know Explained Simply

Thanks to my husband, Keith, and my beautiful daughters, Shonda and Rebecca, for their love and support throughout this project. Thanks for all the glasses of iced tea delivered to my desk and for just being here for me. Thanks to my daughter, Leann, for believing in me and encouraging me always. And, thanks to my granddaughters, Karmen and Riley, for being the precious angels you are. A very special thanks to my parents, Richard and Trena Williams, for giving me the kind of childhood that every child deserves and always allowing me the freedom to be all that I could be. To my Mom: Thanks for always encouraging me to reach for more and for teaching me that learning is the most exciting part of life, for taking teachers to task when they couldnt understand my need to know the hows and the whys rather than taking the facts at face value.

I love you! To my Dad: Although you are not with me on this earth, you are always with me in spirit. Thank you for always supporting me and for always being my solid ground as I travel through this shaky world. Thank you for teaching me the lessons about love and family that I will carry with me throughout my life. I love you! To my grandmother, Gladys Watson, who, with only a third-grade education is the most intelligent person I have ever met: Thank you for teaching me that learning is not only for the classroom that life is all about learning. Thank you for always challenging me and teaching me that words are more than just letters words are an expression of life. To my grandmother, Nellie Williams Wright: Thank you for always believing in me and encouraging my poetry.

Thank you for being proud of each accomplishment no matter how small it may be. I love you! There are so many people who have made a difference in my life Kelley, Buffy, and Ricky, who shared my wonderful childhood and were my partners-in-crime on many wonderful childhood adventures. Lisa Summers, my best friend since 7th grade thanks for all the fun times we have had and for always being my biggest fan. Ryan Hinton, for encouraging me to take the first step and get out there and show the world what I have to offer. Herman Jensen, for letting me experience a reverse mortgage firsthand as I researched and wrote this book. My mother-in-law, June Holcomb for everything you do to help me take care of the girls when I am writing.

And, my friends at Online Business Alliance thanks for always supporting me and encouraging me to reach for more.

Introduction The reverse mortgage has been around for a long time. As a matter of fact, the first reverse mortgage loan was made in 1961 by the Deering Savings & Loan, in Portland, Maine. Imagine that one simple act could have changed how millions of senior citizens viewed their retirement years! Of course, that was not the plan at all. The only goal Nelson Haynes had in mind was to help the widow of his high school football coach find a way to survive after the loss of her husband. Can you imagine the looks on the faces of Hayness colleagues when he told them he would like to issue a loan that did not have to be paid until the homeowner died? That was simply unheard of.