Weekly Finance Updates with Steve Sexton
San Diego Entertainer’s own Steve Sexton, president of Sexton Advisory Group and host of Winning in Life Radio, answered some very important financial questions in last Sunday’s show. The show aired on KBCQ 1170 AM at 9am.
Sexton opens the show as he always does, by discussing current financial news and events. Of course what is on everyone’s mind is the European credit crisis and the actions of Greece. Though it is too early now to know if Greece is going to vote to either stay with the Austerity Measures, or to abandon them, or return to the Drachma, and leave the European Union. Sexton warns that investors should be very watchful of these international events and developments and how they may affect their own investments. There might be a chance that these events may lead to losses for investors worldwide.
Sexton was later joined by reverse mortgage specialist, loan officer, and owner of Reverse Mortgage West, Owen Coyle. Sexton invited Coyle to discuss the pros and cons of the controversial reverse mortgage.
Coyle defines a reverse mortgages as a mortgage that allows seniors to take a sum of money out of the equity on their homes to provide for anything they need. This also includes improving their homes, paying for a full or part-time care giver, or even a vacation. The best part, according to Coyle, is that as long as the borrower lives in the home there is no mortgage payments.
Coyle helped listeners understand a few of the misconceptions associated with reverse mortgages, including the misconception that once the owner dies then the house goes to the bank, which as Coyle points out is completely false. Coyle tells listeners in cases like this, the property will revert to the heirs and children. Though as Sexton and Coyle both point out reverse mortgages are not for every senior, but with the right circumstances and situations they can change a seniors life for the better.
One of Sexton’s favorite parts of hosting Winning in Life radio is answering listener’s questions. This week’s question came from Millie in Carlsbad who is looking to sell her business and is worried about the tax implications. Sexton, advises them on the best way to ensure how Millie and her husband can sell both their business and their property while saving the most money for their retirement. To hear Steve’s advice for Millie visit Winning In Life radio’s archive page here.
Sexton provides his listeners with the best advice possible every morning at 9:00AM on KBCQ 1170 AM, make sure to listen in or stream the audio online at winninginliferadio.com.