I was brought into help a 92 year-old woman with no children or close relatives in Los Angeles by her trust attorney. Her husband, a holocaust survivor, had died 8 years earlier and then she was duped by their religious leader into signing papers deeding her $1.2 mm home to him upon her death as a thank you for his guidance to her husband.
When her caregiver found out about it, she called the attorney who rewrote the will and trust, but the religious leader sued in court, got a lis-pendants and threatened to force the sale of her home. She was also irrationally afraid of going to court because of things that had happened to her during WWII in Europe. So we went before a private arbitrator to whom I explained how a reverse mortgage worked, and he negotiated a settlement.
The religious leader was paid $225,000 and the woman got a $300,000 increasing line of credit. This deal reduced stress, extended her life and guaranteed she could remain in her home.
These are real stories about people like you who have benefited from a mortgage program designed by Mathius Marc Gertz. Only their names have been changed or omitted.
Marc has 36 years in financial services and 6 years in teaching.
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