Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

To Get Financially Forward Requires Thinking in Reverse!


News provided by

Classic Mortgage, LLC

May 01, 2025, 10:00 ET

Share this article

Share toX

Share this article

Share toX

Senior Loan Originator Laura Moritz of Classic Mortgage has been helping seniors 62+ save their homes during stock market uncertainty by educating them on the importance of a reverse mortgage.
Senior Loan Originator Laura Moritz of Classic Mortgage has been helping seniors 62+ save their homes during stock market uncertainty by educating them on the importance of a reverse mortgage.

-Female Reverse Mortgage Expert Helps Seniors Save Homes During Stock Market Uncertainty-

NEW YORK, May 1, 2025 /PRNewswire-PRWeb/ -- When questioned about the volatility in the current stock market climate, a majority of financial advisors recommend that their clients simply hold and await the eventual rebound. But for the approximately 73 million Americans 65 and older, this might not be an option as they may literally run out of time before their investments are restored. In fact, according to the Centers for Disease Control (CDC), the average life expectancy in the United States is 78.4. Senior Loan Originator Laura Mortiz of Classic Mortgage has been helping elderly individuals alleviate the stress of diminishing financial returns, while ensuring that they continue to age profitably within their own homes by educating them on the importance of a reverse mortgage as a supplemental means of retirement income and viable solution to cover escalating expenses during our turbulent economy.

"Simply stated, many people aged 62 and older are extremely fearful that they might not make it to the financial finish line," said Laura Moritz of Classic Mortgage. "Most have already been forced to withdraw money from personal bank accounts and other liquid assets to pay bills as their stock exchange investments plunge downward. This reality not only jeopardizes their ability to stay in their home environment, but also negatively impacts their future legacy on family members."

"Many people aged 62 and older are worried about running out of money in today's turbulent economy," said Laura Moritz of Classic Mortgage. "A reverse mortgage allows them to pay necessary home expenses and gives them the quality of life that they desire and deserve through their aging process."

Post this

Moritz explains that a reverse mortgage is a loan designed to convert the equity in one's home into available cash. While traditional mortgages require monthly payments, a reverse mortgage actually compensates the homeowner either with monthly stipends or one lump sum. The greatest benefit is that there are no payments due as long as a person lives in their home, which increases their monthly earnings. Further, the payments a borrower receives from a reverse mortgage aren't subject to income taxes because they're considered loan proceeds.

As a result, reverse mortgage payments can be a good way to supplement taxable retirement income to minimize annual tax liability. It's also a good alternative to selling one's home if the value has appreciated significantly since the purchase date and the person is worried about a capital gains tax. Additionally, homeowners can use some of the proceeds to pay for a term life insurance policy that is greater than the amount of the loan.

Moritz notes that although reverse mortgages have been around since 1961, they represent only a very small fraction of loans compared to traditional mortgages. As an expert who has successfully originated hundreds of reverse mortgages within 35 years, Moritz debunks some of the common misconceptions about reverse mortgages:

Myth #1: It's difficult to get approved for a reverse mortgage
Fact: To qualify for a reverse mortgage, a person need only be 62 years or older and have equity in their home. The total loan offering is based on their exact age (the older the person, the greater potential amount of the loan), the home's value, and interest rates. On the other hand, it's more difficult to qualify for a traditional mortgage, which is based on a person's income level and credit score.

Myth #2: The bank will own the house
Fact: In a reverse mortgage, the homeowner continues to own the house. The lender secures the loan with a lien on the property, but the homeowner maintains full ownership and title. This means that the homeowner can renovate the property, sell it, or pass it on to their heirs. It's important to note that the person must also keep up with home maintenance repairs and continue to pay annual property taxes and homeowners' insurance. The reverse mortgage loan becomes due and payable only when the borrower dies or moves.

Myth #3: A reverse mortgage increases debt, can use up equity and create issues for heirs
Fact: If you remain in your home for a long time, it's possible that your reverse mortgage loan balance may eventually grow larger than the value of your home. However, the good news is that reverse mortgages are considered "non-recourse" loans, meaning that the lender cannot demand that you or your heirs pay a penny more than the home is worth. When you pass, the estate has one year to sell the home and pay the lien or refinance. This is no different than a regular mortgage lien. Moreover, since reverse mortgages factor in interest based on the life expectancy of the borrower, if the homeowner dies sooner, the remaining interest is deducted from the lien amount.

"Reverse mortgages are an amazing instrument for seniors who cannot continue to withdraw from their liquid assets without running out of money," adds Moritz. "With longer life expectancies and rising costs of living, a senior's fixed income from pensions, Social Security benefits and retirement may not cover necessary expenses or allow seniors to life the quality of life that they desire and deserve through their aging process."

Other ways that reverse mortgages can be a life-saving solution, especially during stock market uncertainty, include:

  • Using the additional income to pay off an existing mortgage.
  • Creating an additional credit line to the house which frees up cash.
  • Purchasing a new home with no mortgage.
  • Using the distributions to make the home wheelchair accessible and other necessary upgrades.
  • Allocating some of the payments for home health care.
  • Ensuring that non-married, co-habituating seniors receive survivor benefits.
  • Accessing their children's inheritance now instead of waiting until they pass to help a sick child, distressed grandchild, thus, helping to enrich their lives.
  • Helping the senior age in place rather than downsizing or renting their property.

"Reverse mortgages are a better big picture decision now more than ever for seniors," concludes Moritz. "It's important for elderly people to work with someone they trust and to put the loan in place before they lose cognitive ability to make decisions."

About Laura Moritz
As Senior Loan Originator at Classic Mortgage, Laura Moritz has successfully originated more than $500 million of both traditional and reverse mortgages. Growing up in a real estate family, Laura Moritz learned a great deal about the ins and outs of the industry at a young age. Over the past 35 years, she has assisted thousands of consumers with their mortgage needs. She prides herself on her extensive knowledge, resources and experience as well as the desire to exceed expectations. She is licensed in New York, New Jersey & Florida.

Media Contact

Alisa Picerno, Classic Mortgage, LLC, 8608691509, [email protected], www.classicmortgagellc.com

SOURCE Classic Mortgage, LLC

Modal title

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.