Mortgage activity has picked up momentum.
More Seniors are finding out there is a way to get more monthly income
with no tax consequences. Seniors are learning that a Reverse Mortgage can pay off
their existing Mortgage. No more
Mortgage payments!! Investment yields
are at historic lows. Seniors find themselves earning less on their investments
while expenses go up. A Reverse Mortgage
might be the answer.
How does a Reverse Mortgage work?
Mortgage is a simple concept. A senior enters into a contract with a
lender that resembles a line of credit.
The senior can draw funds for any purpose up to the maximum available. An alternative is the guaranteed monthly payment. The
guaranteed payment works like an annuity.
The monthly payment is guaranteed as long as the senior lives even if
that is far beyond their normal life expectancy.
What happens when you're gone?
demise of the Senior their heirs have choices. Refinance and keep the property.
Sell the property to pay off the mortgage. Either way any remaining equity
belongs to the Heirs. If the senior owes
more than the property is worth the lender will accept the property in full
satisfaction of the debt. No liability
to their estate. If a disadvantage exists, it is that Seniors are spending
their Kids inheritances. It's your
money, why not enjoy it?
can sometimes be a complex busines, but American Mortgage Professionals are
happy to explain the program in simple, easy to understand terms that makes for
an easy decision to help you attain financial comfort.
If you have
American Mortgage Professionals, Inc.
743.8922, ext 118