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Home Designs For Life: Remodeling Ideas To Increase Safety, Function, And Accessibility In The Home.
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Navigating the Reverse Mortgage Landscape with Michael Pankow, CEO of Veterans Mortgage of America
Manage episode 441740077 series 3327242
内容由Janet Engel, OT/L, CAPS, ECHM, Janet Engel, CAPS, and ECHM提供。所有播客内容（包括剧集、图形和播客描述）均由 Janet Engel, OT/L, CAPS, ECHM, Janet Engel, CAPS, and ECHM 或其播客平台合作伙伴直接上传和提供。如果您认为有人在未经您许可的情况下使用您的受版权保护的作品，您可以按照此处概述的流程进行操作https://zh.player.fm/legal。
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Summary
In this conversation, Janet Engel interviews Michael Pankow, a retail mortgage executive and CEO of Veterans Mortgage of America with over 20 years of experience, focusing on the benefits and misconceptions surrounding reverse mortgages.
Michael shares his personal journey in the mortgage industry, the importance of planning for aging in place, and how reverse mortgages can provide financial independence for seniors.
He discusses the challenges of educating older adults about reverse mortgages, the criteria for qualifying, and the non-recourse feature that protects borrowers and their heirs.
The conversation also touches on Michael's work in the film industry and his passion for helping seniors navigate financial products.
Takeaways
Michael Pankow has over 20 years of experience in the mortgage industry.
Reverse mortgages can provide financial independence for seniors.
Education is key to overcoming misconceptions about reverse mortgages.
The non-recourse feature protects borrowers and their heirs.
Planning for aging in place is essential for seniors.
Accessing home equity can help seniors live more comfortably.
Qualifying for a reverse mortgage involves a financial assessment.
Reverse mortgages can be used for downsizing or purchasing a new home.
Michael's personal experiences shape his passion for helping seniors.
The reverse mortgage market has a low penetration rate, indicating a need for education.
Sound Bites
"Congratulations, you are mortgage free for the rest of your life."
"Reverse mortgages are not just for the desperate."
"There's a level of independence that they gain."
Chapters
00:00 Introduction to Michael Pankow
02:05 Michael's Journey in the Mortgage Industry
06:42 Understanding Reverse Mortgages
09:43 Challenges and Misconceptions of Reverse Mortgages
11:51 The Importance of Planning for Aging in Place
15:10 Accessing Home Equity for Seniors
19:23 Qualifying for a Reverse Mortgage
25:20 Using Reverse Mortgages for Downsizing
32:12 The Non-Recourse Feature Explained
36:10 Education and Awareness in the Reverse Mortgage Industry
47:13 Michael's Work in the Film Industry
How to contact Michael:
Email: [email protected]
Web: https://www.mikepankowmortgages.com
916.705.8282 Office
916.296.7765 Cell
Schedule Appointment with Me:
https://calendly.com/michaelpankow/30min
website: https://homedesignsforlife.com/
Email: [email protected]
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