Doing Good and Doing Well
Employing reverse mortgages and gift annuities can help planned-giving officers guide elderly donors into mutually beneficial arrangements.
An additional benefit to the donor/mortgagor is the first-lien position held by the reverse mortgagee, so any existing mortgage must be satisfied in the refinance. Now an extremely advantageous position has opened up for your donor: No mortgage payments to the mortgagee plus receiving payments from the mortgagee.
- People:
- Steffan F. Cress
- Places:
- Tampa, Fla.
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