Phil Cannella – Phillip Cannella Media: Phil Cannella doesn’t think a reverse mortgage is right for everyone. On the contrary, Phil Cannella makes it very clear that each individual’s or families’ situation is different and varied and one must take a look at each by their own merits and determine what is right for the person or couple one is sitting in front of.
Where a reverse mortgage is often right, as Phil Cannella explains, is with retirees who in many cases don’t have massive IRA accounts; at best a conservative IRA or perhaps only a joint account with their spouse with barely enough in it to get by. Yet, they live in a house they love, for which they’ve sacrificed for 30 years or more. Their mortgage is paid off. They’re in a cash crunch and struggling – it’s easy to imagine in today’s economy. There’s no cash flow.
This is where Phil Cannella’s expertise truly manifests itself. Like a craftsman who knows just the right tool to use for a specific job, so it is with Phil Cannella who understands the financial world so well that he can advise seniors and help them with exactly what they need to get the most optimum result with their finances.