Doing Good and Doing Well
Employing reverse mortgages and gift annuities can help planned-giving officers guide elderly donors into mutually beneficial arrangements.
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* They can enjoy some creditor protection. With the refinancing of a conventional mortgage to a RM, there is no mortgage-related debt. No mortgage, no creditor. GAs are contracts between your organization and your donor, and the contract “belongs” to an entity other than your donor. It would be prudent to have a legal adviser review this.
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- People:
- Steffan F. Cress
- Places:
- Tampa, Fla.
Steffan F. Cress
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