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Ben McCabe is the founder of Bloom Finance Company, a finance company that provides reverse mortgages.
In our interview, we dive deep into the topic of reverse mortgages and detail how they work, misconceptions and eligibility. Ben answers common questions like what happens when the home value appreciates, what happens when clients pass on and whether it’s still possible to pass the house down to family members.
00:00 – Intro
1:07 – Ben’s Professional Journey
3:08 – What Is A Reverse Mortgage & How Does It Work?
4:38 – Misconceptions About Reverse Mortgages
6:28 – What Happens If The Home Appreciates in Value?
7:22 – What Happens If Owed Mortgage Balance Exceeds The Value Of The Home?
9:45 – Eligibility & The Process of Getting Approved
10:57 – How Much Money Are You Eligible For?
11:27 – What Happens When Client Passes On
12:30 – Advice For People Approaching Retirement
13:49 – Thoughts On Downsizing
14:37 – Reverse Mortgage and Passing Down a House To Family
15:36 – Are The Proceeds Taxable?
16:00 – What Can You Do With Money From a Reverse Mortgage?
17:33 – What’s Next For Bloom?
18:07 – New Products
18:53 – Where To Find More Info
To learn more about Bloom Finance Company, please visit https://smarter.loans/lenders/bloom-f…
Looking to learn more about reverse mortgages? If so, please visit https://smarter.loans/reverse-mortgages/
For residential mortgages, please visit https://smarter.loans/residential-mortgages/
For mortgage refinancing, please visit https://smarter.loans/mortgage-refinancing/
In this clip, Jennifer Bovaird explains whether it makes sense to invest in home renovations. Symple Loans offers personal loans of up to 50,000$, a great way to realize home renovations plans.May 31, 2022
David Gens is the President & CEO at Merchant Growth, an alternative lending provider specializing in small businesses. In this interview, we talk about important things business owners need to keep in mind when looking for business financing, things to avoid and general trends we've noticed in the industry.May 31, 2022