You may qualify for a
Reverse Mortgage.

Improve your

retirement

With a

reverse mortgage

Problems with Reverse Mortgages

Lets explore the benefits and perceived problems of reverse mortgage.
A reverse mortgage can be an attractive option for many seniors who need additional income. The right reverse mortgage can enable a senior homeowner to maintain financial independence and an adequate standard of living by converting the home's equity into tax-free cash. A reverse mortgage borrower retains ownership of the home during the course of the reverse mortgage and does not need to make monthly repayments to the lender. Instead, the reverse mortgage is repaid, usually from the proceeds of the sale of the home, after the borrower sells the home, moves out permanently, or is deceased.
In order to see a potential problem lets take a closer look at an example of a reverse mortgage.
A typical reverse mortgage consumer receives $300 per month payment with a monthly compounded interest rate of 1%. Over the course of ten years, the borrower will receive $36,000. The final amount they will owe is nearly $70,000-almost twice as much as she has received. While this does not sound like the ideal situation. These fees include origination fees, points, mortgage insurance premiums, closing costs, servicing fees, shared equity or "maturity" fees, and shared appreciation fees. Now lets compare that to the average American home price of $212,400 and assume 50% financing at 6% is $1,179 monthly payment times 12 is $14,148 a year times 10 years is $141,480 in payments.
In this average example the problems are not apparent. So we invite you to receive a free complimentary graphical analysis of how your particular home reverse mortgage compares and which specific problems may exist for your situation.

TO MAKE IT SIMPLE THE BEST WAY TO IMPROVE YOUR RETIREMENT IS TO
UTILIZE A REVERSE MORTGAGE. THE REASONS ARE SIMPLE AND ARE AS FOLLOWS.

  • Stop Paying Your Monthly Mortgage Payment
  • No Medical Requirements
  • No Income Requirements
  • No Credit Requirements to Qualify
  • Stop Worrying About Mortgage Payment and Increase your Cash Flow
  • Title Remains in Your Name as Long as You Live in the Home
  • The Lender Pays the Homeowner TAX Free Payments "REVERSE MORTGAGE"
California Real Estate

Improve Retirement (949) 732-0342

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