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Inches Activities - What We Do
Inches is a financial institution with a difference. We are involved with helping retired seniors with limited income to sponsor the college education costs of their children or even grandchild. When clients come to us we take a totality approach to providing financial solutions that will satisfy and achieve the desired interests of our clients.
Our aim is to help seniors who have limited means to sponsor their children to college. First we encourage them to take out a reverse mortgage loan. Since these seniors are retired and with limited income a regular loan would only put them into debt. With a reverse mortgage loan they can feel secured that they would not lose their home during their old age and just reverse the home equity to sponsor the child.
Our job starts from helping our client to determine the best reverse loan option that would be best and helping to secure the reverse mortgage loan. After the loan has been acquired we help with drawing up a plan so that the seniors can get a steady income and also a child college fund can be set up. We oversee the management of the college funds and then appropriate funds to cover college expenses including a small monthly wage to the student as soon as they get an admission.
Since the Inches college fund program is based on reverse mortgage loans you have to be sure that you qualify for reverse mortgage loans. Reverse mortgage loans require the beneficiary to be at least up to 62 years of age. If you own and reside in your own home or have at least repaid a substantial part on your loan mortgage then you are eligible for reverse mortgage loans. You also have to be sure that you can cover the fees associated with applying for a reverse mortgage. Once you qualify for a reverse mortgage loan you can then apply for the Inches Reverse Mortgage College Fund Program.