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Below, you'll find extensive information
on leading reverse mortgage for senior articles and products to
help you on your way to success.
Reverse Mortgage Maximization
By Search EzineArticles.com
Have your home’s appreciation grow twice as fast. For Seniors over the age of 62 a Reverse is a tool that, while new to many, is increasingly being used to maximize their retirement income. A Reverse frees up large amounts of equity to be used in investment vehicles, insurance policies, and savings plans that add to the safety and enjoyment of many seniors’ lives. When a Reverse is employed, it allows you to keep earning appreciation on the home, while also earning growth on the equity. Equity normally has no growth. Example: Two people A and B buy the same home for $200,000. Person A puts a down payment for $200,000 while Person B puts down $10,000 and invests the difference. In 5 years both homes are worth $250,000. Person A’s equity experienced no growth while Person B invested the $190,000 not locked in the home and enjoyed 2 times the growth of Person A. Reverse Mortgages are a very safe way for seniors to release the equity trapped in their homes. A Reverse is a Federally regulated and insured loan that uses home value and age as a calculator to extract a portion of the equity that Seniors have built in their homes. A good way to estimate the amount that can be received is to subtract the amount of purchase price and current from the estimated sale value. This is the equity that can be reasonably expected to be obtained with a Reverse Mortgage. Reverse Nation provides a free online calculator. The differences between a Reverse and a standard equity loan are that the Reverse NEVER requires the Senior to make a monthly payment. For as long as the applicant lives in the home, there are no payments required. All of the money that is generated with a Reverse is 100% tax-free and will not affect any social security or Medicare benefits. One generally overlook strategy in doing a Reverse is managing the interest growth. The home is the only tax-beneficial financial investments in existence. If you earn a large return on a bond or in the stock market, you
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will experience taxes based on the size of your return. With a Reverse Mortgage, you pay zero tax for any money generated, and because Reverse Mortgages have no-prepayment-penalty, you can receive these funds tax-free, pay off the accrued interest for the year, then take additional tax-deductions on the interest that is accruing. All this with no risk of default or foreclosure because there are never any payments required. Troy Shellhammer is a Reverse Loan Officer with Reverse Nation (NGFS, a division of 1st Mariner Bank). He can provide illustrations and examples of these strategies for yourself, a friend, a client, or an elder parent.
Contact details:
troyshellhammer@reversemortgagenation.com
1.888.973.8377
http://www.reversemortgagenation.com
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