Reverse Mortgage News

Mrs. Ruby's Victory

March 4, 2008

By Robert Henderson, South Florida Times

Today, we are discussing a story that starts out appearing to be hopeless, but ends in victory.

The main reason I felt the need to share this story is because there are so many others (millions) who are in the same situation but who have neither the courage nor the willpower to reach out and ask for help.

For the few who want help, many don’t know to whom or where to turn, often relying on a friend or family member who’s privately going though their own financial wars.

So pay attention: This could one day happen to you.

About a month ago, I got a call from a lady by the name of Mrs. Ruby. Mrs. Ruby is about 78 years old, a widow who has lived alone in a three-bedroom house in South Miami for the past 50 years.

She has five grown children, all of them over the age of 50, and she’s struggling to make ends meet. She has 15 grandchildren and 30 great grandchildren, all of whom visit her during holidays.

This may sound good if you are viewing the situation from the outside looking in, but on the inside, grandma is in serious financial trouble.

Mrs. Ruby is living on a fixed income. Her home is paid off, but property taxes and insurance costs have skyrocketed in the past few years.

Mrs. Ruby borrowed all she could on her credit cards (the creditors are now calling), and was facing foreclosure on her home within 60 days.

I asked her to come to my office, but she said she was without transportation and everyone was too busy to bring her from South Miami to my office in Miami Lakes.

After realizing the urgency of the situation, I decided to pay Mrs. Ruby a personal visit to offer her some sort of assistance. As I entered her home, I couldn’t help but notice how badly her appliances (stove and refrigerator) and kitchen cabinets had deteriorated over the years.
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