Government Insured Program Is A Blessing For Some Seniors

Seniors Serving Seniors

Help for elderly in today’s tough economic times

by Lenora Degen

“We’ve met lots of seniors,” say Dick and Patty Dockstader of Colorado Springs.   “And many are having trouble meeting daily expenses, covering medical costs, and keeping gas in the car.  It seems a shame that so many people our age are struggling to afford the smallest of luxuries that add comfort to their lives.”

No stranger to tough financial times, 80-year-old Dick Dockstader was born on a farm in central California at the beginning of the Great Depression. When the farm fell on hard times, the family lost most of their land.  Patty was raised nearby by her single grandmother who had very little money.
Dick enlisted in the U.S. Marine Corps upon graduation from high school,
and when he was promoted to PFC, making a grand total of $72 per month, the high school sweethearts were married.

That was 62 years ago.  Today the couple is grateful for the experiences of their past - even the difficult times. These have taught them to be grateful for the important things in life: health, family, and the ability to overcome obstacles.

Life’s been good to Dick and Patty.  They raised 3 sons and have 8 grandchildren and 7 great-grandchildren. They’ve had plenty of adventures along the way, and much of their success can be attributed to Dick’s keen business sense and willingness to try new things.

After attaining the rank of Captain in the Marines, and graduating from Cal Poly at San Luis Obispo on the G.I. bill for vets with a B.S. degree in Animal Husbandry, Dick began a career in ranching and agriculture which would span over the next 20 years.  At age 62, Dick and Patty turned their business over to their youngest son and started a new career.  The Dockstaders took some land they owned and built homes for low income families.  These homes were subsidized by the government.  Due to the amount of red tape, very few builders were willing to work with USDA making subsidized mortgage loans.  The Dockstaders learned how government-guaranteed loans work, while processing and working their own loans. Dick and Patty continued building houses for low-income families in rural areas of California for 10 years.

Several times, friends and family members urged Dick and Patty to retire and relax.  “I tried retiring a few times, from many different careers,” laughs Dick.  “I wasn’t very good at it. I kept coming up with another endeavor to try.”

In 2004, looking for another way to give something back, particularly to the senior community, Dick and Patty took their knowledge and experience with government insured loans and formed Seniors Serving Seniors, Inc.

Seniors Serving Seniors is dedicated to informing and educating the senior community about Government Sponsored Reverse Mortgage programs.  Through informal seminars, seniors and their families can learn the truth about these often-misunderstood options for homeowners 62 years and older.  “We don’t sell anything, we just explain the facts.  Reverse Mortgages aren’t for everyone.  And if they’re not right for you, we’ll be the first to tell you.  But for many, they are a huge blessing.”

Several Colorado seniors have already benefitted from the Seniors Serving Seniors seminars. A Colorado Springs couple in their eighties was able to pay off a debilitating mortgage and have an extra $2,000 cash each month.  A widow and retired nurse has paid all of her debts, receives a monthly income, established a line of credit, and is finally experiencing freedom from financial worries.

Even if you are not a senior, the information from Seniors Serving Seniors can be helpful for an elderly family member or useful for your future.  Attendees receive a comprehensive, easy-to-read booklet published by Seniors Serving Seniors, a booklet from AARP about Reverse Mortgage, and easy-to-follow-along-with handouts from the lecture.  Materials and the seminar are free of charge with absolutely no obligation.

“I’m happy to talk with anyone interested in learning more about the Reverse Mortgage,” says Dick Dockstader.  “We keep up with the many changes to the laws, including some very recent ones which have lowered the rates for Reverse Mortgages, raised the limits of the loan amounts, and even make it possible to purchase a new home with a Reverse Mortgage. We want to make the process easy to understand so that everyone knows the facts, rather than the misconceptions.”

Visit www.seniorsservingseniors.net to get some of your questions about Reverse Mortgages answered.  If you’d like to find a seminar near you, call Seniors Serving Seniors at 719-599-7609. If you or your group would like to have Seniors Serving Seniors conduct a seminar in your area, call or email Dick (rwdock@q.com).  “We can mail information to you and if you’d like a one-on-one meeting in person or on the phone, we are happy to set that up as well.”