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Susan A. Pomfret RICP®️
Did
you know you can help your clients 55 or 62 and older reduce their monthly housing
obligations? We all have enough concerns now, so wouldn’t it be of value to
help your clients lower their stress about paying their monthly mortgage
payment, credit card bills or installment loans? Perhaps you have baby boomer
clients who are helping their elderly parents financially? Senior housing
wealth has reached over $13 trillion* and may offer financial relief.
By tapping home equity with a Home Equity Conversion Mortgage (HECM), those 62 and older can have flexible options. They can choose to receive HECM funds through a monthly payment, line of credit, initial draw, or a combination of methods. An even better feature is that no matter how they decide to take their funds at closing, they can change their payment plan at any time, as often as they need to throughout the loan.** Flexible options are very important as seniors navigate retirement, not only because their lives change as they get older, but also because they will have a tax-free*** safety net when they need it most, even for unexpected events.
For those 55 and older there are similar choices available with Portfolio Jumbo Reverse Mortgage Products. Though they are not available in every state, and have some restrictions on payment plan flexibility, these loans are still a good option to consider.
In
2014 the Financial Industry Regulatory Authority (FINRA) updated their Investor
Alert about Reverse Mortgages, noting that recent changes to the program added
additional safeguards for the borrower. They also stated “FINRA is issuing this
Alert to urge homeowners thinking about reverse mortgages to make informed
decisions and carefully weigh all of their options before proceeding. And, if
you do decide a reverse mortgage is right for you, be sure to make prudent use
of your loan.”
As with any financial product, clients need
to rely on an experienced professional to educate them about the risks and
benefits to ensure they are making an informed decision. You can learn more at ttps://www.finra.org/sites/default/files/InvestorDocument/p517004.pdf
There have been many studies that show how a HECM or Reverse Mortgage can help with Sequence of Returns Risks and Longevity Risk. I particularly like this article because it describes a coordinated strategy that is simple to implement https://toolsforretirementplanning.com/2016/08/20/sacks-and-lafaye-case-study/
In addition, Jamie Hopkins, Esq., LLM, MBA, CFP®, RICP® wrote a book titled Rewirement: Rewiring the Way You Think About Retirement! that I highly recommend, along with books and studies by Wade Pfau, Ph.D., CFA.
Finally,
think of HECMs and Reverse Mortgages as part of the financial planning/
retirement income planning process. They can be part of discussions with your
clients about deferring social security, paying for health care and long-term
care costs, making home modifications, keeping their current home, or buying a
new one. They may offer a useful tool when gray divorce is the challenge, and
as mentioned above, they may protect against Sequence of Returns Risks.
About Susan A. Pomfret, RICP®. Susan was one of the first to originate HECMs in Rhode Island, starting in 1989. She began her mortgage career over 30 years ago. She is a familiar and respected face in the senior community, combining her professional experience with senior volunteer work. She served as Co-Chairperson of the Board of Directors for the Senior Agenda Coalition, Board of Directors member for the RI Chapter of the Alzheimer’s Association and was Co-Chairperson for Alzheimer’s annual fundraising auction. Her volunteer work with the National Reverse Mortgage Lenders Association (NRMLA) includes serving as an appointed member of the Government Affairs, State and Local Issues Subcommittee. She has lobbied at the RI State House, participated in many rallies, and testified on various senior bills and issues, both in RI and on Capitol Hill. She was chosen to assist in writing the first Certified Reverse Mortgage Professional (CRMP) test, was a frequent columnist for Senior Digest Newspaper and PrimeTime Magazine, and was a monthly co-host of the Senior Digest Radio Show on WPRO 620AM. Susan has been published in many national mortgage industry publications and was chosen to cover the 2005 White House Conference on Aging (WHCOA), as well as attend the invitation-only 2015 WHCOA Forum in Boston, MA. She co-founded of the RI Chapter of the National Aging in Place Council, is an appointed member of the Aging in Community Act Subcommittee (affiliated with the Lt. Governor’s Long-Term Care Coordinating Council) and is an appointed Alzheimer’s Ambassador RI – U.S. Representative. Susan holds a Bachelor of Science in Paralegal Studies and Certificate in Gerontology from Roger Williams University and Retirement Income Certified Professional (RICP®) Designation from The American College of Financial Services.
*https://www.prnewswire.com/news-releases/senior-housing-wealth-reaches-record-7-70-trillion-301154029.
**The servicer will charge a $20 change fee each time
they change the payment plan.
***Contact a tax professional.
When Rachel Ritter first walked through the doors of The Glenview, she wasnt leading concerts, organizing excursions, or planning community-wide celebrations.She was 15 years old, bussing tables in the dining room.Today, more than three decades later, Rachel has come full circle as The Glenviews new Lifestyle Director a role that perfectly combines her lifelong dedication to the community with her passion for enriching the lives of residents.Along the way, Rachel earned both a nursing degree and a degree in history, supported in part by a scholarship from The Glenview Scholarship Fund. She worked at The Glenview throughout college, held numerous leadership roles in Dining Services, and built lasting relationships with residents and team members alike.Now, she has found what she calls her true calling.After 31 years at The Glenview, Ive discovered that my greatest passion is creating a vibrant lifestyle for our residents, said Rachel. Dining Servies allowed me to create exceptional experiences around the table, but I wanted to contribute even more to daily life here. My goal is simple: every resident should wake up each morning with something exciting to look forward to.That philosophy is reflected in every square of The Glenviews bustling Activities Calendar. A Calendar Packed with PossibilityRachels vision is ambitious: create enough variety that every resident can find something that sparks joy, curiosity, connection, or purpose.Its my job to bring joy to peoples lives, said Rachel. I take that responsibility very seriously.Each month, residents enjoy an extraordinary mix of entertainment, education, wellness, social events, and excursions. Signature Events & EntertainmentTwo to three major events each month bring the community together for unforgettable experiences. From jazz ensembles and classical concerts to vocal performances and thought-provoking lectures by college professors, residents can explore topics ranging from history and philosophy to pop culture and current events. Culinary ExperiencesFood lovers eagerly await the monthly cooking demonstrations led by Executive Chef David Chidsey or Pastry Chef Ashley Yedeski. Residents learn professional techniques, enjoy generous tastings, and occasionally see favorite recipes make their way onto the dining room menu.The culinary fun continues with themed luncheons and tea parties. Recent favorites have included French and Asian-inspired lunches, farm-to-table seasonal luncheons, a Southern Tea Party, and a whimsical Mad Hatter Tea complete with imaginative desserts.Ashley has a gift for creating memorable pastries, said Rachel. Together, we love finding ways to surprise residents with something delicious and unexpected. Wellness for the Whole PersonAt The Glenview, wellness extends far beyond exercise.Working alongside Director of Health & Wellness Navigation Kari Bone, Rachel helps create programming that supports all eight Dimensions of Wellness: physical, emotional, social, spiritual, intellectual, vocational, health services, and environmental health.Recent speakers have included cardiologists, dietitians, meditation specialists, IT & fraud advocates, and other experts all lectures paired with refreshments and opportunities for discussion.Our residents are incredibly curious and engaged, said Kari Bone. Its a pleasure working with Rachel to bring in exceptional speakers on topics that matter most to the quality of life for our seniors. Lifelong learning is alive and well at The Glenview!Residents can also choose from 13 fitness classes every week, including yoga, meditation, cardio exercise, balance training, chair fitness, Tai Chi, and specialized classes led by physical therapy professionals. For independent workouts, the Fitness Center offers access to state-of-the-art equipment seven days a week. Adventure Awaits in Pelican BayWhile there is always something exciting happening on campus, Rachel also loves taking residents on the road. Recent outings have included a Rhythm & Blooms Jazz Concert at the Naples Botanical Garden, rooftop happy hour at The Perry Hotel, and visits to every new exhibition opening at the Artis Naples Museum.Rachel also coordinates transportation for residents who are season ticket holders for Naples Players productions and Artis Naples Masterworks Concerts.One of the best parts of my job is helping residents continue exploring the community they love, said Rachel. Theres always another adventure waiting in Pelican Bay. The Power of Shared InterestsSome of the communitys most beloved activity programs are resident-led. Book lovers can join either the Fiction Book Club, led by resident Lynn Nolan, or the Non-Fiction Book Club, led by resident Cynthia Bye. Creative residents can gather for the Social Crafting Bee, where simple projects are paired with cookies, lemonade, and conversation. The newest project a handmade greeting card was suggested and organized by resident Carol Levy.The Card Room is always a hub of activity at The Glenview. Card players gather regularly for bridge, Mexican Train, mahjongg, and other favorite games, while movie enthusiasts enjoy Saturday matinees complete with buttered popcorn.Rachel has a remarkable talent for turning resident ideas into reality, said Lynn Nolan, resident and Chair of the Lifestyle Committee. She listens, encourages participation, and helps create the sense of community that makes The Glenview so special. Rachel is much loved by all our residents. Giving Back TogetherSome activities focus on something even bigger than fun.Through a partnership with Meals for Hope, residents participate in quarterly philanthropy events that help organize and distribute food for local families in need.Many residents want hands-on ways to serve others, Rachel said. This program allows them to make a direct impact while working together as a community.The Glenview knitting group has found a similarly meaningful mission by connecting with the global non-profit Knitted Knockers, where they create soft knitted prostheses for women recovering from breast surgery.Its amazing to watch residents use their talents to comfort someone theyve never met, said Rachel. The project gives purpose to every stitch. A Scholarship That Came Full CircleOne activity especially close to Rachels heart is the monthly Scholarship Bingo fundraiser. All proceeds benefit The Glenview Scholarship Fund, which helps employees further their education.I was fortunate enough to receive one of those scholarships myself, said Rachel. It changed the course of my life. Every time we host Scholarship Bingo, Im reminded of how much this community invests in its people. Always Looking AheadRachel is already looking to expand the already full Activities Calendar.A new Dining Out Club is in development, giving residents opportunities to explore local restaurants together. Rachel is also working with yoga instructor Marjorie to launch a Senior Salsa class and continues partnering with the resident-led Lifestyle Committee to bring new ideas to life.The best ideas often come from residents, said Rachel. When people share their passions, we can create even more opportunities for connection and fun.Resident Judy Johansen agrees. Rachels enthusiasm is contagious, said Judy. She creates opportunities for everyone to get involved, make friends, and try something new. Theres always something exciting on the horizon here.For Executive Director Daniel Gomez, Rachels impact is impossible to miss. Rachel brings tremendous energy, creativity, and heart to everything she does, said Daniel. Her decades of experience at The Glenview, combined with the genuine relationships shes built with residents, make her truly irreplaceable. She helps create the culture of joy that defines this community.Rachel sums up her vision with characteristic enthusiasm: I want The Glenview to feel like a cruise ship that never leaves the dock, she said. There should always be great food, lively conversation, and exciting activities waiting around every corner!Judging by the packed calendar and the smiles it creates Rachel has certainly contributed to making The Glenview a destination of choice for seniors.We invite you to experience The Glenview personally. Join us for lunch, tour the community, meet the residents, and see firsthand why so many discerning individuals choose to call it home.To learn more about our community or schedule a visit, call us at (239) 977-9744 or complete our Contact Us form.
When you move to The Glenview, youre gaining more than a beautiful apartment home. Youre gaining a trusted guide dedicated to helping you stay healthy, connected, independent, and confident as you embrace this exciting new chapter.That guide is Kari Bone, Director of Health & Wellness Navigation.My goal is simple, Kari said. I want every resident to feel supported, confident, and excited about whats ahead. Whether someone needs help finding a new physician, has questions about available services, or wants to learn new ways to stay healthy and active, Im here for them.Its a role thats part educator, part advocate, part problem-solver and one that helps residents truly optimize life at The Glenview.Wellness That Helps You Live Your Best LifeWellness at The Glenview isnt measured by the number of fitness classes on the calendar. Its about creating opportunities to live with greater purpose, energy, and peace of mind. Kari develops engaging programming that supports all eight Dimensions of Wellness physical, emotional, social, spiritual, intellectual, occupational, financial, and environmental health giving residents new ways to learn, connect, and thrive.On the first Wednesday of every month, residents gather for Health & Wellness Presents, a popular speaker series featuring physicians, therapists, dietitians, wellness experts, and other specialists discussing topics that matter most as we age.Our residents are incredibly curious, Kari said. Every month we have a wonderful turnout because people genuinely enjoy learning something new. They ask great questions, share their experiences, enjoy a healthy lunch or cooking demonstration, and spend time with friends. You leave feeling a little smarterand a little happier.Recent presentations have explored everything from heart health and nutrition to mobility, meditation, fraud prevention, and healthy aging. Interactive demonstrations and lively discussions turn every program into an opportunity to learn something practical while building meaningful friendships.Between presentations, Kari also shares practical advice through her popular Navigator Nuggets easy-to-save wellness guides included in the monthly resident newsletter. Covering topics like hydration, fall prevention, and seasonal wellness, theyre another way The Glenview helps residents make informed choices that support healthy, independent living.More Than Answers Peace of MindKari also introduces residents to the many services available to support successful aging in place, including GlenCare, The Glenviews personalized in-home support program.I never want someone to feel like theyre on their own, Kari said. Whatever question comes up, whatever challenge they face, well figure it out together. Thats what were here for.That reassurance begins long before move-in day.Kari is a results-driven leader with a humanitarian heart, said Krisandra Panting, Director of Marketing & Sales. Shes an incredible resource for prospective residents and their families because she has a solution for virtually every question or concern. She has a remarkable way of helping people feel comfortable, cared for, and confident about their decision to move to The Glenview.Helping Residents ThriveThis October, Kari will launch LifePlus, an exciting new wellness initiative built around four pillars of healthy aging: Connection, Movement, Nutrition, and Longevity. The program debuts with a week-long celebration featuring presentations given by nationally recognized physicians, wellness talks, fitness classes, interactive demonstrations, pop-up events, and the One Million Step Challenge, where residents join forces to track their steps throughout the month, turning walking and healthier habits into a shared community goal.Kari brings so much heart to everything she does, said Daniel Gomez, Executive Director. She doesnt just organize outstanding programs she builds relationships. She helps people discover new interests, make new friends, and feel confident that theyre supported every step of the way. Her guidance is one of the many things that makes life at The Glenview so special.For Kari, thats the real purpose behind every program, every conversation, and every connection.When someone chooses The Glenview, theyre choosing so much more than a place to live, she said. Theyre choosing a community that wants them to feel their best, keep learning, stay connected, and enjoy every stage of life. Seeing residents discover new friendships, new interests, and new confidence thats why I love what I do.Optimizing your life isnt about doing more. Its about living in a community where youre encouraged to be healthier, stay curious, build meaningful relationships, and embrace each day with confidence.Thats the difference youll discover at The Glenview.We invite you to experience The Glenview personally. Join us for lunch, tour the community, meet the residents, and see firsthand why so many discerning individuals choose to call it home.Schedule your private visit today by calling (239) 977-9744 or click here.
For Jeanne Findlater, moving to The Glenview at Pelican Bay wasnt just a change of address it was a discovery. I wish Id done it years ago, she said. I simply didnt realize what this lifestyle could offer.Jeanne knows a thing or two about recognizing exceptional opportunities. In 1979, she made history as the first woman in the country to lead a television station in a Top 10 market, when ABC appointed her Vice President and General Manager of WXYZ-TV in Detroit. Today, the Michigan Journalism Hall of Fame member, says one of the best decisions shes ever made was choosing The Glenview. I love having my own home and my privacy, Jeanne said. But I also love knowing that everything is taken care of. I dont worry about maintenance, repairs, or the little things anymore. Its incredibly freeing.The Freedom to Enjoy Every DayMost afternoons, Jeanne relaxes with a glass of wine, a mystery novel, and sweeping views of the Gulf before heading to dinner in The Glenviews elegant dining room. When shes ready to be social, all she has to do is open her front door. Its like living in a beautiful boutique hotel, Jeanne said. There are concerts, lectures, fitness classes, bridge, mahjongg, and wonderful people everywhere. It all comes together to create a very rich life.An Unmatched LocationFor Jeanne, The Glenviews location is equally extraordinary. Theres nothing else like it, she said. Were surrounded by the beauty of Pelican Bays protected mangroves, and I can take the complimentary tram to the beach whenever I want, enjoy lunch by the Gulf, then walk to waterside shops, the Artis Naples Performing Arts Center, or the Baker Museum. Everything is right here.A Home Thats Truly Her OwnJeanne also appreciates that residents own their homes, allowing her to create a space thats uniquely hers. I opened up my kitchen, added granite, and created a home thats perfect for entertaining, she said. It feels exactly the way I wanted it to.The Difference is the PeopleAbove all, Jeanne says its the people who make The Glenview exceptional. The staff is extraordinary, she said. Theyre caring, thoughtful, and always looking out for us. You feel supported every single day.Looking back, Jeanne has only one regret. I waited too long, she said. Life here is everything I hoped retirement could be.
At USA Mortgage, we are passionate about helping seniors achieve financial flexibility through Home Equity Conversion Mortgages (HECMs) and other Reverse Mortgage solutions. With a customer-focused approach and over two decades of experience, we provide tailored mortgage options designed to meet the needs of homeowners aged 55 and older.Our dedicated local Team are experts in HECMs/Reverse Mortgages, guiding you every step of the way with a seamless loan process. Whether youre looking to access your homes equity, refinance, or explore a HECM or Reverse for Purchase option, USA Mortgage offers a wide range of solutions to help you reach your financial goals.We pride ourselves on delivering a reliable, detail-oriented, and personalized experience. From the initial consultation toloan closing, our Team is committed to finding the right product that works for you, providing peace of mind and financial freedom. Trust USA Mortgage to be your premier home loan partner, empowering you to make the most of your retirement years.We offer a wide range of mortgage options to suit your specific needs and financial goals. From conventional loans to FHA, VA, and USDA loans, HECM and Reverse Mortgage loans. USA Mortgage has the expertise to help you find the perfect mortgage solution. Susan A. Pomfret, RICP has a career spanning several decades, she is proud to be one of the trailblazers in the reverse mortgage industry, having the honor of originating one of the first HECMs in Rhode Island in 1989 and has since dedicated her career to advancing the industry, playing a pivotal role in elevating companies to new heights. Under her leadership, she has transformed HECM closings, overseen vast teams, and engineered sales strategies nationwide.Susan's passion extends beyond just professional accomplishments; she is deeply committed to the senior community. This is reflected not only in leadership roles within senior-focused non-profit organizations but also in the dedication as a volunteer and advocate. She has been published in numerous mortgage publications, covered esteemed events like the White House Conference on Aging in 2005 and 2015, and was chosen to assist in writing the first Certified Reverse Mortgage Professional (CRMP) exam for the industry's trade organization, the National Reverse Mortgage Lenders Association (NRMLA).In addition to Susan professional endeavors, she holds a Bachelor Degree in Paralegal Studies, a Certificate in Gerontology from Roger Williams University and the Retirement Income Certified Professional Designation from The American College of Finance Services. Susan is driven by the mission to enrich the lives of our senior population and empower retirees to live a financially stress-free retirement.Contact Susan Pomfret, RICP at 401-595-7300 to schedule your free consultation.NMLS#1253876. Licensed in FL (License #LO125044)