In spite of our best laid plans, the road of life sometimes has bumps that we didn’t expect. An even bigger surprise is that most of life’s bumps cost money. The  good news for senior homeowners who are planning ahead is that there is a financial tool that can take a lot of the sting out of these  surprises. It is called a reverse mortgage.

The reverse mortgage is a financing program that allows the homeowner to convert part of the equity in their home into readily available cash. The title to the home is retained by the homeowner and funds from the loan proceeds, which are tax free, can be paid to the homeowner in a variety of ways. Most importantly, the loan provides the homeowner with greater flexibility and control of their finances.

Increasingly, investment planners and other financial professionals are recognizing the benefits of reverse mortgages and their usage as part of an overall financial strategy. Rather than the program of last resort, reverse mortgages are being recognized as an important part of a strategic plan that considers the bumpy road the family may face as they get older. Whether or not the program is right for you, it is always wise to understand your financial options and to be prepared to make better informed financial decisions.

For a no obligation review of the program, and the features, costs and benefits that apply specifically to you, give me a call. I promise that it will be time well spent.

Related Articles

When I chose to leave the traditional mortgage lending world and move to reverse mortgages, many friends and family asked WHY? There are so many stories about ways the reverse mortgage product has hurt senior citizens. Yet, I didn't go in blind. I did a whale of a lot of…
Read More of the post Reverse Mortgage – Why the Switch?

The HUD Home Equity Conversion Mortgage (HECM), more popularly known as a reverse mortgage has been around for decades. However, most real estate professionals don't realize you can use a HECM to buy a new home. Buyers, age 62 and beyond, can take advantage of the HECM to buy the…
Read More of the post Home Buying with Reverse Mortgages

For many home owners, hearing the term “reverse mortgage”  causes a chill to run down their spine. In reality, these loans have some real benefits for home owners and unfortunately, have the victim of bad PR perpetrated by a few unscrupulous scam artists decades ago. The term reverse mortgage usually refers to…
Read More of the post Six Myths and Facts About Reverse Mortgages

Four key financial resolutions for 2015: 1. Save more. Resolve to put more money into your savings and/or investment accounts. This boosts your financial security, giving you money for your kids' college educations and weddings, or to tide you over between jobs. Also look at re-financing... rates have dropped recently. You…
Read More of the post Four New Year’s Resolutions for Your Money

We recognize this is a difficult time for many people. Click here or call 866-913-2951 for more information and to learn about current options available to our borrowers.