Retirement in Reverse: Better read this if you are 62 or older and own a home in the U.S.
Over 1 million seniors have already taken advantage of this “retirement secret.”
Americans are living longer. And, home prices are up more than 36% since 2011, according to October 2015 data from the National Association of Realtors.*
For many senior citizens, their home is their biggest asset, often accounting for more than 50% of their total net worth.
With the cost of basic necessities such as food on the rise, it’s no wonder why more and more seniors are now using HECM reverse mortgage loans to turn their home equity into extra cash for their retirement.
However, there are still millions of homeowners who could benefit from this governmentinsured loan but may simply not be aware of this “retirement secret.”
Some people think reverse mortgage loans sound “too good to be true.” After all, you get the cash you need out of your home, but yet you have no more monthly mortgage payments.
NO MONTHLY MORTGAGE PAYMENTS?** EXTRA CASH?
It’s true, no monthly mortgage payments are required with a reverse mortgage;** the homeowners only have to pay for maintenance, property taxes, homeowner’s insurance and, if required, their HOA fees.
Reverse mortgages first took hold when President Reagan signed the FHA Reverse Mortgage Bill into law over 25 years ago to help senior citizens remain in their homes. They’re simply an eff ective way for homeowners 62 and older to get the cash they need.
Although today’s HECM reverse mortgage loans have been greatly improved to provide greater protection for homeowners, there are still a lot of misconceptions. For example, many people mistakenly believe the home must be paid off in full in order to qualify for a reverse mortgage, which is not the case.
One key benefit of a reverse mortgage is that it automatically pays off your existing mortgage, which frees up cash flow, a huge blessing for those on a fixed income. Unfortunately, many homeowners who could benefit from a reverse mortgage loan don’t even bother to get more information due to rumors they’ve heard.
That’s a shame because reverse mortgages are helping many seniors live a better life. In fact, a recent survey by American Advisors Group (AAG), the nation’s number one reverse mortgage lender, found that 95% of their clients are satisfied with their reverse mortgages.
If you’re a homeowner age 62 or older, you owe it to yourself to learn more so that you can make an informed decision.
Homeowners who are interested in learning more can request a free 2016 HECM Reverse Mortgage Information Kit and free Educational DVD by calling American Advisors Group today at this special tollfree number 1-(800) 840-7593.
You may be pleasantly surprised what you discover about this “retirement secret” when you call for more information today.
“I have been able to repair my home’s foundation that I had been putting off for several years, renish the hardwood oors, paint the interior and will have the exterior painted within a few days. My house is starting to look like my home again and it...
In 1988, President Reagan signed the FHA Reverse Mortgage bill into law.