After Joyce Ruvolo's husband passed away two years ago, she noticed a disturbing trend. "I found myself taking money out of the bank every month to pay the bills," says the 77-year resident of Boca Raton, Florida.
Unhappy with her cash flow situation, Ruvolo found a solution to her problem with Kathy Burns, a reverse mortgage loan specialist with On Q Financial. Burns helped set up a reverse mortgage, also known as a home equity conversion loan, which allowed Ruvolo to tap into the equity in her house and receive regular payments to supplement her income. "Kathy was wonderful, and the extra money I have in my pocket at the end of the month makes up the deficit I had before," she says.
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