Staying In Home
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My parents have been retired for a several years now.  Both my father and mother had successful careers, as an attorney (dad always said not to hold that against him ☺) and an interior designer, respectively. Income had always been good and they made a point to save and invest.

In their retirement years they have been able to travel and enjoy the fruits of their many years of hard work. They had a nice steady fixed income from my dad’s Navy pension and social security.
Then came a bit of a game changer, dad was diagnosed with Parkinson’s.

As so many folks do, my parents wanted to see if they could stay in their home for as long as possible. In home care, a few hours a day was the option. They knew that the demands would slowly increase but this is where they felt comfortable and safe.

Medications and therapy really held of the symptoms for many years. However, being a progressive disease, dad slowly began to lose the battle. The discussion turned towards next steps. Did they seek in home care to alleviate the stress and physical toll it was putting on my mother or did they look toward an assisted living option?  How would they pay for either of these options without devastating the retirement plan? Would their assets hold out?

I have been in the mortgage world for 25+ years and am certified as a Reverse Mortgage lender. My parents had very little in the way of a mortgage on their property. Collectively we chose to place a Reverse Mortgage on their property. What is a Reverse Mortgage?  In a simple answer, as its name suggests, a reverse mortgage is, in a sense, the opposite of a conventional mortgage. Instead of paying interest and principal to the lender, the lender makes payments to the homeowner. Reverse mortgage draws may be received in the form of monthly payments, a partial or lump-sum payment either at closing or later in the life of the loan, a credit line that grows over time, or a combination of the three.

For my parents the solution was the line of credit with an initial payout to pay off the existing mortgage. Their loan was set up to pay them a fixed sum on a monthly basis and they no longer had a monthly mortgage payment to contend with. At the same time the loan allowed them to leave their investments in place, thus not disturbing their retirement plan. The Reverse Mortgage has all of the safeguards: there is no foreclosure, there is no forced sale, and the property is available first to their heirs. A detailed explanation of all the options available, as well as answers to the many questions families have, is best given by a certified Reverse Mortgage lender.

This financial tool may not be the answer for every family, but I am thankful that I had the ability to be there for my parents.  After they did so much for me over the years it was finally my turn to truly be of service.
Special Contribution By Tony Gray, NMLS #188700

Tony is with Fairway Independent Mortgage Corporation in the greater DC area. He has been a lender for more than 25 years. He is married with three beautiful children of which two are off to college.
From the Capital City Nurses Blog: Seniors need "The Arts" - Express Yourself
Alive Inside the award-winning documentary - worth a watch! (pic from their Facebook page)
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We provide the best care available to clients and families with varying needs. Our team of nurses, nursing assistants, and care providers offers the following services:
  • Care Assessment
  • ADL (Activities of daily living)
  • Elder Care
  • Post-Operative Care
  • Short & Sweet
  • Medication Management
  • “Daughter Down the Street/Son Stopping By” Companion Service

Any question, any time, no matter where you are in your journey, one of our experienced care coordinators is available to listen and provide answers.

We’re available 24/7

The Cottage at Curry Manor
Refined Residential Living
for Seniors

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Please call us 301-652-4344
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Service Area

Capital City Nurses serves the greater Washington, Northern Virginia, Baltimore and Annapolis areas including the Eastern Shore of Maryland, and Delaware. We work with your schedule and come to you, wherever you are.

For more information, or to schedule a caregiver, call the Capital City
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Coastal Home Care Services (Eastern & Western shores)
1323 Mt. Herman Rd.,
Suite 5B
Salisbury, MD 21804


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Georgetown, Delaware, 19947


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485 Ritchie Highway
Suite 206 A
Severna Park, MD 21146


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700 Princess St.
Suite 200
Alexandria, VA 22314 

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