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Reverse Equity Mortgages

Reverse Equity Mortgages have become a larger part of my practice as a Certified Mortgage Planning Specialist. While reverse equity mortgages are certainly not the only choice for seniors over 62, reverse equity mortgages are something to consider. Please take a moment to read my personal experience with reverse equity mortgages. Email any questions on Reverse Equity Mortgages. Reverse equity mortgages offer benefits to seniors that a traditional mortgage can not and need to be a part of the mortgage planning process.

While I recognize that there are many websites claiming to be reverse equity mortgage "specialists" offering only reverse equity mortgages, I believe that is a disservice to my client. I will continue to offer traditional mortgage products as well as reverse equity mortgages as I believe that offering only one type of mortgage may not be the best answer to my client's situation. I prefer to look at the specifics of my client's situation and suggest the most appropriate solution. It may be reverse equity mortgages or it may not. Any mortgage should be a solution to a problem, not a product to be sold. That having been said, lets look at what reverse equity mortgages really are.

Reverse equity mortgages are, at their most fundamental level, designed to allow seniors to maintain their independence with dignity. Reverse equity mortgages allow you to use the equity in your home to maintain and even improve your lifestyle. Reverse equity mortgages will NOT cause you to lose your home and I have used reverse equity mortgages many times to give seniors the ability to stay in their home when other alternatives have failed. Funds made available to you are not taxable and will not affect your Medicare eligibility. Reverse equity mortgages can be an effective estate and financial planning tool that can be shown to increase the size of your estate as well as to reduce taxes on your estate. They do not require income, credit score, or health qualification but are based on your age and the equity in your home. More than anything else, reverse mortgages can give you peace of mind by allowing you to maintain your independence.

There are several loan types available to you and one may be a better choice depending on your specific set of circumstances

    Fixed rate Home Equity Conversion Mortgage. From the Federal Housing Administration (FHA)

    Adjustable rate Home Equity Conversion Mortgage. From the Federal Housing Administration (FHA)

    Home Keeper. This is from Fannie Mae

    Cash Account Advantage. From Financial Freedom

I offer a printed side by side comparison of each of them so you will be able to see which option best meets your needs. The benefits can vary significantly between them and we want to be sure you select the one that most closely meets your needs. Please call (888) 648-1714 or email me to ask about this free no obligation analysis.

Learn more about Reverse Equity Mortgages Myths

Learn more about their use as an Estate Planning tool

Learn more about the use of a Reverse Equity Mortgages for Long Term Care Planning

To learn more about this solution, please take a moment to view my Equity Income presentation

Search the site for more information.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.