September 9, 2004
Wells Fargo Home Mortgage
You've worked hard to own your home. Isn't it time you began to reap the
benefits? If you are age 62 or older a Reverse Mortgage enables you to convert
some of your home's equity into tax-free* cash. Whether you choose to pay
bills, cover taxes, or finally buy that vacation home, you have money to cover
your personal financial needs.
This loan allows seniors to make the most of their golden years. The main
features of the reverse mortgage are:
INDEPENDENCE: You continue to own and live in your home.
LIQUIDITY: Receive monthly payments instead of making them.
SIMPLICITY: No income, credit, or employment requirements needed to qualify**.
CHOICE: You may receive funds as a lump sum, in monthly installments, as a line
of credit**, or as an upfront sum plus monthly allotments.
SECURITY: Does not affect Social Security of Medicare benefits.
OWNERSHIP: Your heirs can keep the property once the reverse mortgage is paid in
FREEDOM: No repayment of your loan as long as you live in your home.
I've been running this ad with The Paper for a while now using my own
questions. Now, I'd like to invite the readers of The Paper to send me
questions to answer in this column. Please e-mail me at:
firstname.lastname@example.org - or call me at 760-518-9839.
*Consult a tax advisor
**Home equity loans and lines of credit are available through our affiliate
Wells Fargo Equity Direct, a division of Wells Fargo Bank, N.A. Member FDIC and
Equal Housing Lender. Home equity lines of credit are not offered on property
located in the state of Texas.
***Reverse Mortgage borrowers are required to obtain an eligibility certificate
by receiving free counseling sessions with a HUD-approved agency. Family
members are also strongly encouraged to participate in these informative