Did You Know?
What do you know about a Reverse Mortgage? Are you thinking about the old unregulated Reverse Mortgage?
Have you heard about the NEW Reverse Mortgage with an improved qualification process with enhanced regulations?
Enjoy LIFE...There are several objections, but answers clear the objections.
L = LOSE
You will lose the value of the home or lose ownership of the home. This is a loan, not a deed transfer. We are lenders, not landlords.
I = Inheritance
This might be ok for the borrower but it hurts the next generation. The truth is that solid research and math shows that homeowners that take a reverse mortgage do leave behind less home equity, but are less of a burden to their children AND usually leave behind more IRAs and Life Insurance proceeds because they didn’t put all of their eggs in one basket...the home.
领英推荐
F = FEAR
Irrational or incorrect ideas about the Reverse Mortgage that they have heard from other experts or friends and relatives that have some truth to them but are mostly wrong.
E = EXPENSIVE
All forms of retirement income have a cost, managed money fees that advisors charge, waiting for social security, taxation of IRAs, going back to work, etc. If the cost is outweighed by the benefits, that is the value factor. Cars are expensive too, but we like to have at least one!
Question? Are you open-minded? IF what you thought about a Reverse Mortgage turned out to be incorrect, WHEN would you like to learn the difference and the benefits it offers?
90% of homeowners who do a Reverse Mortgage early in retirement end up with 3 advantages!