Reverse Mortgages

A Reverse Mortgage can provide up-front cash, income for life, or an income-producing line-of-credit, in any combination. As time goes by many seniors discover that their retirement income no longer covers all of their living expenses. Also, some seniors have seen their retirement portfolio reduced by stock market swings and therefore need additional cash flow in order to live or maintain their life style.

With a Reverse Mortgage you can:

• Pay off your existing mortgage
  
• Take out up-front cash
  
• Realize a monthly income for life
  
• Obtain an income-producing home equity line
  
• Or structure your loan to include all of the above.
  

Eligibility requirements:

• You must be 62 years of age or older
  
• You must have substantial equity in your home
  
• There are almost zero credit and income requirements
  

There are no restrictions on the use of your Reverse Mortgage proceeds. You may use the
funds for:

• Living expenses
  
• Home repairs and renovations
  
• Travel
  
• Health Care
  
• Your grandchildren's education
  
• Any purpose!

Additional benefits of a Reverse Mortgage:

• No mortgage payments for as long as you live in your home
  
• You can buy a second home with your Reverse Mortgage
  
• All of the funds received are tax free
  
• You keep title to your home just like you would with any other type of mortgage
  
• The loan is not repaid until the last spouse permanently moves out
  
• Repayment can never exceed the value of your home
  

Types of Reverse Mortgages (FHA Reverse Mortgages)

Fixed Rate Loan - With this option you realize all of the funds available to you at
closing.

• Adjustable Rate Loan - You can receive up-front cash, income for life, or an
  income-producing line of credit in any combination.
  
• Reverse Mortgages may be used to buy a home or to refinance your existing mortgage
  and can be used when you need cash and have no mortgage against your home.
  

How much money can I receive?

The amount that you can obtain depends solely upon your age and the amount of equity
in your home. The older you are the more funds that you are eligible to receive. Click here to find out about how much you can obtain with a new Reverse Mortgage.

Our Reverse Mortgage calculator provides useful estimates only. You may be eligible for
more funds than shown. By calling today I can tell you how much you are able to obtain
with a new Reverse Mortgage.

About your Loan Officer:

I have been counseling seniors about the benefits of a Reverse Mortgage for years. Please
call me at your convenience for an appointment to discover how a Reverse Mortgage can
benefit you

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