TOP REASONS TO CONSIDER A REVERSE MORTGAGE
Are Reverse Mortgages a Good Idea?
Explore the options available to you to determine if a reverse mortgage is a fit for your financial goals.
VALUES oF REVERSE MORTGAGES
Why is a Reverse Mortgage a Great Idea
1. Reduce financial stress in your retirement years.
A reverse mortgage is a wonderful option for those who have experienced challenges in life that prevented them from being able to save for retirement. You used your hard-earned money wisely and were able to purchase a home years ago, and today, because you were as frugal as possible through the years, you now have substantial, untapped equity in your home. Why not convert a portion of that equity into cash that you can use for whatever need you deem necessary?
2. The existing mortgage will be paid off.
One of the many benefits a reverse mortgage offers is relief from the burdensome monthly mortgage payment. It is not necessary for your home to be mortgage free.
3. Taxes don’t apply to your reverse mortgage income.
All proceeds from a reverse mortgage are tax-free.
4. If the balance exceeds your home’s value, you’re protected.
Homeowners and/or their heirs are not responsible for the shortfall should the loan balance exceed the home’s value. The Mortgage Insurance Premium (MIP) associated with the HECM covers the shortfall. Please note, a reverse mortgage is a non-recourse loan.
When is a reverse mortgage a good idea?
As with any loan, regardless of the type, it is important to be educated on how that loan impacts your financial well-being. Â
Loans are not “one-size fits all”. It is extremely important to work with someone that is licensed, well-versed in the industry, and has YOUR best interests at heart. No question you have should go unanswered, or concern swept aside.
In this regard, it is necessary to note many of Jeannette’s clients are now her personal friends.Â
ENJOY RETIREMENT YOUR WAY
Discover Reverse Mortgage
Jeannette offers a 30-minute, NO OBLIGATION consultation to see if a reverse mortgage could be a “good fit” for you. Family members are welcome to join in!
Schedule a Call with Jeannette