S3: Episode 5- How Seniors Can Choose a Reverse Mortgage to Fund Care

Show notes-

Mourning Dove Medical Presents Dr. G at the Heart of Healthcare

Guest

David Patrick Paget

- Canadian moved to the USA as one of eight kids in 1960s

- Previously a Coca Cola truck driver

- Real estate experience from Rancho Cucamonga to French Valley in 1999

- Enjoys wine touring in Temecula https://gogrape.com

Mission-Educate & Empower in three parts, helping listeners ‘SEE’ what’s needed to navigate the healthcare system.

1. Story (theme) David is on a fixed income as a senior citizen collecting social security, he supplements by hosting wine tours. Money matters during the late stages of life. Many seniors have a nest egg built by the equity of their family home, a portion is an asset for funding care.

2. Educate (Teaching points)

- How to find brokerage

- Timing 25-30 years (small or no mortgage)

- Paid when house sells

- Home equity is paid out by investors

- Misconception you will loss your house

- If married one spouse must occupy the property

- Consider creating a living trust

- Counseling required for senior citizens, before the process begins

- Better than an equity line of credit

3. Empower -A valuable a resource https://www.c2financial.com

Website info https://mourningdovemedical.com

Video podcast 🔗 https://youtu.be/ZtMP5Of5ZS4?si=Mr_eKRonOfM27aUl #hapc #EducateAndEmpower #PeaceOfMind #TheRealDealAboutHospice #Hope #LateStagesOfLife #RealTalk