Reverse 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
How does a
Reverse Mortgage work?
The Reverse 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.
happens when you're gone?
Upon the 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?
Financing can sometimes be a complex business,
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
If you have
Mortgage Professionals, Inc.
743.8922, ext 118