Reverse Mortgage Loans
Reverse Mortgage loans are a large part of my practice as a Certified Mortgage Loans Planning Specialist. Please read my personal experience with reverse mortgage loans. Email any questions on Reverse Mortgage Loans. Reverse mortgage loans are not the only choice for seniors over 62, reverse mortgage loans are something to consider. Reverse mortgage loans 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 mortgage "specialists" offering only reverse mortgage loans, I believe that is a disservice to my client. I will continue to offer traditional mortgage products as well as reverse mortgage loans 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 a reverse mortgage 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 mortgage loans really are.
Reverse mortgage loans are, at their most fundamental level, designed to allow seniors to maintain their independence with dignity. Reverse mortgage loans allow you to use the equity in your home to maintain and even improve your lifestyle. Reverse mortgage loans will NOT cause you to lose your home and I have used a reverse mortgage 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 mortgage loans 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, they can give you peace of mind by allowing you to maintain your independence.
There are several types available 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. From Fannie Mae
Cash Account Advantage. From Financial Freedom
I offer a printed side by side comparison of each 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 meets your needs. Please call (888) 648-1714 or email me to ask about this free no obligation analysis.
Learn more about Reverse Mortgage Myths
Learn more about their use as an Estate Planning Tool
Learn more about the use of a Reverse Mortgage for Long Term Care Planning
To learn more about this solution, please take a moment to view my Equity Income presentation
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.
View my Wealthbuilder presentation and learn the safe way to manage your debt and fund your retirement.