Finding Freedom with a Reverse Mortgage Loan

Kathleen Scarcelli is a long-time resident of Scottsdale, AZ, and entrepreneur. Her husband passed away, which left her in a difficult position. She loved her home and wanted to keep it, but felt that handling the monthly mortgage payments on her own would keep her from being able to enjoy her life.

Kathleen pursued a reverse mortgage to eliminate those monthly payments. She found that only having to pay the property charges like taxes and upkeep offered her a level of financial freedom that many of her friends do not have. As for working with Fairway, Kathleen said that, “Fairway was just fabulous.”

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Video Transcription:

Kathleen Scarcelli

I reside in Scottsdale, Arizona. I’ve been here 36 years and love it, and I’m an entrepreneur.

I became a widow in 2005 and decided to keep my home. I love my house. I didn’t want to leave just because I was now flying solo, as they say. I didn’t want the heaviness of that payment every month.

I heard about the reverse mortgage, and decided that would be probably the best alternative for me. Fairway was just fabulous.

Well, it freed up the money that I’d have coming in every month. Now I don’t have to put it toward the mortgage payments. It allows me to do the repairs I have put off. Gives me the peace of mind. There’s just so many things that I can do that I just wasn’t able to before.

I ended up in the hospital for a week with pneumonia. Literally was close to dying and was unable to work. The mortgage closed that month before, and it was like God knew that something was going to happen. It was a blessing. Just everything fell into place at the right time for me, and I am just so grateful that I did it.

It just allows me to do the things that many of my friends aren’t doing, because they are either divorced or widowed and they’re strapped, and I didn’t want to be strapped. I wanted the freedom and I have it.

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