The ‘Walk-Away Close’

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Here’s when you need to step out of an appointment and why

This week John Luddy reveals one of the most powerful sales closes…leaving. Why? Listen and you may be surprised!

About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here

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Why you need a morning routine

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Practical tips for an effective morning routine

As much as you may dread the sound of your alarm clock each morning, nothing’s worse than chaos as you begin your day. When it comes to starting your day you want the safety of a routine that prevents your morning from crashing into mayhem. Even better, an effective morning routine generates momentum that will carry you throughout the day. With that in mind, here are several tips you can put into practice, several which I use myself.

Decrease your decisions. The fewer choices you have to make each morning the less stress you will feel. Many, myself included, eat the same breakfast each and every workday morning. Check your wardrobe and layout your clothes for the next day. Pack your briefcase or tote the night before. To avoid forgetting anything I’ve often put my car keys with my briefcase near the front door.

Get moving. Morning exercise is a great way to prepare your brain to learn and process information throughout the day. If you’re not a fan of exercise you could stretch instead. Find a good…
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Tips for a Smooth Loan Closing

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Avoid problems at closing by doing this…

Norcom has a business model that will fit YOUR business model…especially after HECM changes begin October 2nd.
About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here

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In Sickness and In Health, Part 1: The Heart of the Matter

My mother died from congestive heart failure in January 2014, as discussed in this post on awakening to grief. That was when her organs finally shut down and the medical establishment was able to “pronounce” death.

In reality, after unsuccessful heart valve surgery in early December, it was only a matter of time. I’d intuited the end was near months before, since I believed she was too weak even to withstand the surgery. But with a lack of straightforward information from the doctors, other family members interpolated a sliver of hope and were determined to fight to the bitter end. And bitter it was.

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The Role of Comfort Care

Extreme interventions at the end of life may be authorized from love, but for the person whose life is concluding, these invasive procedures are likely to prolong suffering.

In fact, painkillers can actually shorten the life they seek to extend, by causing breathing complications, drug interactions, and more serious side effects, such as stroke.

Former First Lady Barbara Bush chose another route, and in so doing, shone a valuable light on the role of comfort care at the end of life. Like my mother, Mrs. Bush had had congestive heart failure for many years. But rather than being placed on the “conveyor belt” of costly medical interventions aimed at prolonging life, she made the courageous decision not to seek further treatment.

This is the purpose of hospice: to ease pain and provide attentive, loving support as someone prepares to depart earthly life. It takes courage to choose this route; to say, “I have lived a good life, and am at peace with what comes next.”

Barbara Bush’s Parting Gift

bush-careJust two days after deciding not to pursue further medical treatment, Mrs. Bush passed away, surrounded by her loved ones. The same might have been true for my mom; instead, she endured seven weeks of machine-supported existence, dying in the sterile, institutional healthcare environment so pervasive in modern America.

We’ve touched upon alternative endings a few times, such as this story about one LO’s mother-in-law’s decision to choose hospice care, and how you might broach the topic with HECM clients. Resources such as The Conversation and the National Institute on Aging’s End of Life guide are also useful tools.

“We’ve lost the rich wisdom of normal human dying,” writes British palliative care specialist and author Dr. Kathryn Mannix. Death is natural, but the systemic breakdowns that often lead up to it can be wrenching. As someone long in the public eye, Barbara Bush gifted us one final time with her choice to acknowledge her time was near, and to pass peacefully.

While death discussions are rarely easy, and not necessarily in your purview as a reverse mortgage professional, it’s important to be cognizant of the options available, and the choices others make that could prove relevant to your clients’ family members.

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Heart disease warning signs

Since heart disease is the number one cause of death for both men and women in the U.S., it’s helpful to be aware of these unusual warning signs many people might overlook:

  • Creased earlobes: More than 40 studies have shown a correlation between a diagonal crease on the earlobe and an increased risk of atherosclerosis (hardening of the arteries).
  • Fatty bumps on the elbows, knees, buttocks or eyelids: These benign bumps can signify high cholesterol.
  • Clubbed fingernails: Fingernails that become thicker and wider indicate oxygenated blood isn’t reaching the fingers properly. It’s one of the oldest known medical symptoms, sometimes referred to as “Hippocratic fingers“, named for Hippocrates, the father of medicine.
  • Iris halo: A ring around the iris of the eye is also a sign of fat deposits. About 70 percent of people over age 60 have it.
  • Rotten gums and loose teeth: Oral health is a predictor of the state of overall physical health. Dental decay allows bacteria to enter the bloodstream and create inflammation, which can lead to cardiovascular disease and a host of other illnesses.
  • Blue lips: Unless you’ve been swimming in frigid waters, blue lips are not normal, and can signify heart problems due to a lack of oxygenated blood in the tissues.

Of course, each of these symptoms can also be benign. The best course of action is for seniors (and people of every other life stage) to know their body, and seek the services of a competent health professional when they notice a change. The more information we have about health and well being, the better prepared we will be to make potentially life-altering decisions when the time comes.

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How some are surviving or thriving in a down HECM market

“It’s tough to make predictions, especially about the future”, said baseball great Yogi Berra. Prognostications as how the reverse mortgage industry will recover and grow are often fall flat. An Industry initiative called “The Extreme Summit” set their sights high aiming to increase annual HECM endorsements from 50,000 to 300,000 units by 2018.  The group was comprised of several industry CEO’s, many who in a secret ballot committed to financially back the effort investing $30-150 million over five years. While this was a laudable goal the initiative could never anticipate the headwinds that would soon befall the industry. Despite these challenges one wind of change blows at our backs and could help increase adoption of the Home Equity Conversion Mortgage in the years to come.

Last Thursday USA Today reported that more seniors 75 and older are carrying debt into retirement. This is a far cry from the borrowers many of us met with a decade ago who typically had few if any debts, yet found themselves house-rich and cash-poor. “We’ve seen instances of seniors foregoing required medications … because they can’t afford it,” said Lori Lucas, president and CEO of the Employee Benefit Research Institute. “More seniors are carrying debt into retirement than ever before.” While lower than their younger counterparts, the median debt carried by those 75 and older is $20,900.  The Employee Benefit Research Institute reports that nearly half of retirees in this group have outstanding loans. The most significant increases of those carrying debt are among the lower-income seniors.

This trend comes as no surprise as our oldest Americans find themselves squeezed between the forces of…

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Viewers share their ideas to attract borrowers

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How sharing what works for you benefits all

Last week we asked you, our loyal viewers, to share what’s helped you attract potential HECM borrowers and grow your business. Well, several of you took the time to submit your ideas. Thank you, sincerely. Here are a few.

Networking and calling on attorneys. Many have created and nurtured relationships with attorneys who specialize in estate planning, senior benefits, Medicaid, real estate. The real advantage is their clients implicitly trust their attorney’s recommendations, and if they recommend you, there’s no better lead.

Another viewer uses focused newsletters. While many are sending out a generic newsletter template to their entire database this seasoned pro uses a more targeted approach. “I believe it is our focused newsletters sent to specific lists of potential borrowers that sustain our business and many times we get calls years after the first contact stating that the reason we are being contacted is the newsletter”, he said.
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The Sales Ride Along

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Email John today for a FREE sales webinar

Email John today to be on the list for Norcom’s upcoming National Sales Training webinar…

About John Luddy: John has trained reverse mortgage professionals how to be successful when sitting face-to-face at the kitchen table with prospective HECM borrowers. Norcom is looking for qualified loan officer candidates. To learn more call 1-860-507-2582 or email John Luddy here

Fill out my online form.   reverse mortgage news