Filed on July 15, 2010

Bridge loans available at The Cedars

If you want to lock in Membership benefits and enjoy the advantages of living at The Cedars before your home is sold, we have a way for you to accomplish it. We never know when we may have a health event that disqualifies us from moving to a continuing care retirement community, so it is better to be 5 years early than wait 5 minutes too late.

Economic uncertainty is sometimes hard to deal with, but there is a certainty that we all must face and plan for. That certainty is that we become a day older each day. And at our age, our bodies and minds begin to wear out, for some faster than others. That is why it is important to consider moving to a continuing care retirement community now rather than wait.

There is understandable concern about buying a home at The Cedars while still owning your current home. However, homes are selling if they are priced right and an owner has the right real estate agent. The time a home is on the market may be longer, but people who are interested in The Cedars generally have quality homes that have strong appeal and sell fairly quickly. Conventional wisdom has changed from homes selling better when occupied to selling better when empty and staged to appeal to a broader audience than those who might like your decorating tastes.

We encourage you to move to a retirement community, such as The Cedars, before you sell your home. You will benefit greatly from the move because of the life enrichment and security you will receive.

We have just engaged Elderlife Financial Services to assist people in gaining access to their trapped equity that allows them to purchase a home at The Cedars before they sell their current home. Trapped equity is equity in your current home or in investments you don’t want to sell right now, generally because of significant built-in gains or a temporarily depressed price. Elderlife’s Capital Access Program allows someone to borrow against assets at a very favorable interest rate and pay interest only until their home is sold, at which time the loan is repaid. Also, your home at The Cedars can be used as collateral. We’ll also work with you to make this a good financial decision.

If you are interested in learning more about how a bridge loan can help you gain security, improve your quality of life and lock in Member benefits at The Cedars, give us a call.