Cincinnati, Ohio 45241
Tri-State Region
Phone: (513) 680-6168 Phone: (800) 589-8430
Email: mbowers@rfslends.com
NMLS# 61535
Testimonials
“Mike is very knowledgeable and is terrific with follow-up with his customers. He is a wealth of information.”
A. Reed
About Michael
Planning & Organizational Skills • Financial Needs & Cash flow Analysis • Written & Oral Communications • Radio Talk Show Host & Thought Leader on Retirement Planning
Author of Weekly Financial Newspaper Column • Distilling Complex Financial Ideas & Strategies
Offering Evidence Based Retirement Income Solutions
PROFESSIONAL EXPERIENCE
Retirement Funding Solutions – Cincinnati, Ohio 45069 | 2015 – Present
Senior Loan Officer specializing in the FHA HECM loan program for retirees.
Security One Lending – Cincinnati, Ohio 45069 | 2013 – 2015
Senior Loan Officer specializing in the FHA HECM loan program for retirees.
American Mortgage Service Company – Cincinnati, Ohio | 2008 – 2013
Senior Loan Officer specializing in the FHA HECM loan program for retirees
Trinity Financial Group, Escondido, California | 1977 – 2007
DBA, California Homes and Loans
Owner, Real Estate Broker, Real Estate Investment Banker – Senior Housing
KCEO AM 1000, San Diego, California • 1 year
Weekly Talk Show Host of “It’s Your Money San Diego”
Hosted and produced a weekly talk show about personal finances, investments and related topics. Organized the program to reflect a broad community-based information format; Interviewed guests on the air including mutual fund portfolio investment managers, financial advisors and asset managers, real estate and asset based syndicators, estate and family planning attorneys, certified public accountants dealing with changing tax laws.
THE TIMES ADVOCATE (a.k.a THE NORTH COUNTY TIMES), San Diego, California • 1 year
A daily newspaper covering North San Diego County and parts of Southeastern Riverside County
“The Financial Advisor” Columnist
Provided weekly content on local economy; personal financial matters including investing in stocks, bonds and mutual funds – Disseminated advice on developing retirement plans and appropriate retirement plan investments, and estate planning
PROFESSIONAL MEMBERSHIPS
Financial Planning Association of Southwestern Ohio
National Association of Insurance and Financial Advisors – NAIFA
Certified Home Equity Retirement Specialist – HERS ®
Certified HECM for Purchase Specialist – H4P®
Cincinnati Area Board of Realtors
Serves on the CABR Lending & Education Committee
Northern Kentucky Association of Realtors
Serves on the Education Committee
Director of Development / Cincinnati Senior Connection
Past President San Diego Chapter of CFP’s (Certified Financial Planners)
Past President of Palomar Health Foundation
Rotary International – Paul Harris Fellow
ADDITIONAL COURSES & CERTIFICATIONS
Certified Financial Planner (relinquished marks)
NASD Series 7, 24, 27, 63 (relinquished licenses)
Senior Real Estate Specialist – SRES
Certified Instructor -The American CE Institute
Providing Continuing Education and Training
for Financial Advisors, Attorneys, CPA’S, Insurance and Real Estate Agents
EDUCATION
Bachelor of Science in Business Administration
University of Kentucky, Lexington, Kentucky
Frequently Asked Questions
Do I still own my home?
You will still own your home and can remain in it as long as you wish, provided you continue to pay the property taxes, insurance and maintain the home in good condition.
How much money can I get?
The amount of funds available are based on a number of factors including the product you select. The proceeds available are calculated based on the youngest homeowner’s age, current interest rates and the lesser of the appraised value of your home, sales price or FHA Maximum Lending Limit. Currently the FHA Maximum Lending Limit is $625,500.
What if I have an existing mortgage?
If you currently have a mortgage on your home, the proceeds from the Reverse Mortgage is used to eliminate your current mortgage, in many cases homeowner’s obtain a Reverse Mortgage for this reason alone.
Will a Reverse Mortgage affect Social Security or Medicare?
A Reverse Mortgage doesn’t typically impact your Social Security or Medicare benefits, but benefits do vary state by state; be sure to consult a benefits professional.
When do I have to pay back the Reverse Mortgage?
The Reverse Mortgage becomes due and payable when the last remaining homeowner sells the property, permanently vacates the home or passes away.
Can I use a Reverse Mortgage to purchase a home?
Yes. With a Reverse Mortgage Purchase Loan, qualified homeowners use their loan proceeds to purchase the home. Typically for downsizing or relocating to an active adult community or moving closer to their families.