Reverse Mortgages are powerful financial tools

Reverse Mortgages are powerful financial tools made available to many senior Americans today. Most
reverse mortgage programs enable those qualified, to access a portion of the equity that exists in their
home today in California.
This loan is a federally insured option for eligible participants who are at least 62 years of age, own their
home, and utilize the home as their primary residence. If the home has an existing mortgage, the
balance must be low enough that the reverse mortgage can pay it off. Any cash balance is received taxfree
and can be used by the borrower however they choose. This money does not have to be paid back
so long as the home remains the borrowers primary residence.
According to HUD, there are no credit, medical or income requirements. Reverse mortgages offer many
seniors a sense of freedom, and financial security. Reverse Mortgages also allow seniors to enhance
their retirement, and truly put the Gold back into the "Golden Years"!
Is a Reverse Mortgage Right For Me?
People today are living longer than ever, and even prudent planning can leave one wondering if it's
enough: Is there something else I can do about my retirement plans? A reverse mortgage can often be
the right solution. For some people a reverse mortgage gives them the chance to help someone else like
a grandchild, a charity, a friend or a family member, all without having to change their current lifestyle.
A reverse mortgage gives people options they might not have had before, whether it is going on a dream
vacation, fixing up their home, buying a new car, or just covering expensive medical treatments. The
borrower is able to live in their home, and retains ownership of the property as long as the home is
maintained and insurance/real estate taxes are paid.
Imagine having the powerful equity stored in your home right at your fingertips.
A Reverse Mortgage allows the tax-free income you need to remain independent and enjoy your
retirement years to the fulles.
Reverse mortgages calculator can be a great vehicle for American Seniors to achieve Security and
Financial Independence. But, this is an important decision, one that should be made only when all the
facts have been presented.

The Reverse Mortgage Counselor is there to provide answers to the tough questions. The counselor's
job is to make sure that the borrower understands the basics of the Reverse Mortgage. The counselor is
there to educate the borrower, and to assist them in determining which Reverse Mortgage product best
fits their situation.
What else will the counseling cover?
The counselor will also provide the amount of money that someone would qualify for based on the
current interest rates, and the estimated home value. The actual amount may differ depending on these
factors.
Is there a charge for this counseling?
The counseling is provided free of charge, and can be done face-to-face, or over the phone. The length
of the session can vary depending on the amount of questions the borrowers have for the counselor,
but typically run about 45 minutes to an hour. Any borrower who remains on title, must do counseling.
This ensures that all the parties involved have been informed.
Reverse Mortgage Benefits
No Monthly Mortgage Payment
No Income Qualification
No Credit Score Qualification
You Own your Home – the lender does not take control of the title
You Continue To Live In Your Home As Long As You Want
The Money You Receive Is Tax-Free
Growing popularity of the Reverse Mortgage
Until a few years ago, reverse mortgages were virtually an unknown financial tool for many older
Americans. Now, over 175,000 older Americans, 62 years or older have benefited from a reverse
mortgage.
At a time when it is difficult for older Americans to keep up with the financial pressures of the new
economy, the message of a reverse mortgage being a logical and sometimes necessary part of financial
planning is finally getting through.
Insured by the Federal Housing Administration (FHA), a reverse mortgage in many ways is a reward for
the hard work you put into building the equity in your home. You can access the equity in your home
and use the money tax-free without making monthly mortgage payments.
How can you use the money?
Pay off credit card debt
Pay off an existing mortgage
Pay for Long-term health care or Housekeeping
Pay for medical bills or prescription drugs
Pay for home repairs and improvements
Pay for travel and vacation

Use money for whatever you need or want
No Credit Score Qualification
If you own a home and you and your spouse (if you’re married) are 62 years or older, you can qualify.
There is no income or credit score qualification. The amount you receive is based primarily on your age,
the value of your home and current interest rates.
The home must be your primary residence
Property tax and hazard insurance must be kept current
Payment options
If you are committed to staying in your home, there are several ways in which you can receive money
from a reverse mortgage:
A lump sum of cash
Regular monthly payments for as long as you live in the home
Regular monthly payments for a fixed period of time
A line of credit to draw on as you need it
Or any combination of the above
Taking the Next Step
A reverse mortgage can afford you the opportunity to live more independently and enjoy retirement,
let’s talk it over. Call us and we’ll be happy to have our Reverse Mortgage Advisor visit with you. You’ll
get enough facts to know if a reverse mortgage is for you.
More info:
http://reversemortgagesforseniors.xyz/