SOURCE: Business RadioX

Business RadioX

February 19, 2015 10:00 ET

Eugeria Radio Features Using a Reverse Mortgage as an Asset Preservation Strategy

Terry Bowser and Dan Diaddigo Discusses the Benefits of a Home Equity Conversion Mortgage

ATLANTA, GA--(Marketwired - February 19, 2015) - On January 23rd, 2015, Eugeria Radio welcomed to the studio Terry Bowser and Dan Diaddigo from CBC National Bank. Co-hosts Brad Culp and Sam Grass spoke to these thought leaders about the process behind using a reverse mortgage as an asset preservation strategy.

Diaddigo explained the point behind a home equity conversion mortgage. If you're familiar with the home equity line of credit, then you'll understand that you make payments to equity every month and the bank applies a portion of that payment to equity. The reverse mortgage is simply just the opposite of this. Your loan pays you money, it's your money coming back to you. As long as the borrower continues living in the home, there are no payments due.

"What we offer at CBC National Bank is a home equity conversion mortgage," said Diaddigo. "This is an insured version of the reverse mortgage. About a year ago the product itself went under a revamp to institute some consumer safeguards. As an evolving product, it has taken some time to reach a level of efficiency that helps balance the interest of consumers with the profit motive inherent to banks."

The reverse mortgage loan is a very safe, payment-free way to access the equity in your home. It is a non-recourse loan that will allow a borrower to live in the home for as long as he or she lives. An interesting side-note is that a reverse mortgage may not necessarily be used for living expenses or healthcare expenses, but could alternatively be used as an asset preservation technique.

To learn more about CBC National Bank's full services, listen to the entire interview on Eugeria Radio.

About Eugeria Radio™:

Eugeria Radio is a weekly radio show on Business RadioX® celebrating those who have given their careers to serving seniors and disabled individuals to make their lives comfortable, meaningful and fulfilled. Eugeria airs on Tuesdays at 11:30am Eastern, is sponsored by Griswold Home Care and is hosted by Brad Culp and Sam Grass.

About Business RadioX®:

Business RadioX® interviews dozens of innovative entrepreneurs and successful leaders each week. Its mission is to help local businesses Get the Word Out about the important work they're doing for their market, their community, and their profession. With a pro-business slant and a long-form interview format, guests don't have to worry about being ambushed or talking in "sound bites." Guests have enough time to tell their whole story and to share their insights and experience without interruptions. Business RadioX® hosts are business professionals interviewing their peers, drilling down on the critical issues, and delivering practical information to an engaged business audience. Business topics that are frequently covered include: Law, Finance, Healthcare, Technology, Trade Shows, B2B Marketing, Venture Capital, Training and Development and other issues impacting the business community. For more information, visit: http://businessradiox.com.

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