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.”

Riverbank News - - NEWS -

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, renish 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 feels good.” - Betty Carter

In 1988, Pres­i­dent Rea­gan signed the FHA Re­verse Mort­gage bill into law.

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