Planning for sore knees? I had a client who is a veteran who was recently diagnosed with a breathing disorder. He has been on disability for 4 months, and his condition is not getting any better. He knew that after 33 years at the utility company he soon would have to retire.

So he called to see what his options were for a refi of his rental to get cash out. Then in talking to him more he really wanted the money so he could buy a one level home and give notice to retire. The writing was on the wall and he wanted to take control, rather than one day just not be able to make it up the flights of stairs in his 2 story home.

We created a plan where he could get the money for a downpayment from a free and clear rental property, where he would still have a lot of cash flow. Then we qualified him for the new home mortgage with the new debt on the rental.

He didn’t want to sell his home first and, “be out on the street”, so I recommended he rent the house out so we can cover the mortgage for qualification purposes. He then can make a smooth transition to the new house, avoid having to make 2 moves, and sell the old house once he is comfortable, but before the 3rd year elapses (to keep the tax free gain status).

He was so happy that he could qualify and be able to live in a house that is one story for all his retirement.

Often my clients’ motivation is hidden, and if you don’t ask they won’t tell you. Glad we had a good solution for a sad problem.

If you know anyone who doubts they can get a loan, please introduce us as it could be the difference between keeping a home you love, meeting your goals, or just accepting what is.

You don’t know what you don’t know….