The Reverse Mortgage Fact Fiction

The Reverse Mortgage Fact Fiction



The Reverse Mortgage-Fact & Fiction
Planning for retirement can be a​ daunting task,​ long-term care,​ investments or​ annuities,​ lack of​ retirement income .​
These all lead to​ unnecessary frustration .​
a​ reverse mortgage could settle some of​ that headache .​
Since most seniors will have need to​ reduce their current spending while retired,​ a​ reverse mortgage may provide the​ added cushion most people feel they need even before retiring .​
Social Security,​ IRA's,​ 401k's,​ and other methods of​ retirement income usually provide enough for living expenses and recreational activities,​ but do not leave much room to​ improve your financial future .​
a​ Reverse Mortgage is​ an​ increasingly popular solution to​ access a​ large amount of​ tax-free funds to​ safely allocate for higher interest investments and securities.
Reverse Mortgages are federally regulated and guaranteed financial vehicles that allow someone age 62 or​ older,​ to​ pull out equity locked in​ most senior's largest asset: their home .​
a​ Reverse Mortgage will provide a​ percentage of​ the​ home's appraised value,​ up to​ 60%,​ in​ a​ variety of​ different payout methods,​ but the​ borrower is​ not required to​ make a​ single payment as​ long as​ they continue to​ live in​ the​ home .​
All repayment,​ closing cost,​ and interest are repaid when the​ senior either moves or​ the​ home is​ sold,​ so it​ produces a​ large amount of​ capital with absolutely no risk of​ default or​ foreclosure on​ the​ home .​
One of​ the​ key benefits to​ the​ reverse mortgage is​ that the​ funds are completely tax-free .​
a​ reverse mortgage will also not will NOT impact social security or​ Medicare benefits in​ any way .​
a​ reverse mortgage becomes even more impactful when used as​ a​ revenue generator by increasing your investment portfolio .​
For example,​ a​ couple who are both age 65,​ with a​ home value of​ $200,​000,​ zero mortgage,​ and are looking to​ either purchase an​ immediate annuity or​ a​ joint long-term care insurance policy .​
a​ reverse mortgage could potentially provide over $100,​000 to​ fund the​ annuity or​ a​ single premium insurance policy,​ with interest growth and a​ long-term care rider .​
The true power of​ the​ reverse mortgage as​ an​ investment tool lies in​ two aspects of​ the​ product .​
The first is​ that any funds generated from a​ reverse mortgage are completely tax free,​ and will not affect the​ tax bracket of​ the​ applicant .​
The problem to​ the​ senior or​ anyone for that matter,​ is​ that they have to​ remove themselves from the​ asset they are liquidating in​ order to​ access the​ proceeds .​
Not with a​ reverse mortgage! a​ reverse mortgage is​ a​ true win win .​
A reverse mortgage lets you​ unlock the​ value of​ your single largest asset without having to​ dispose of​ it​ or​ pay for it​ in​ any way .​
As more and more seniors reach their mid to​ upper 60’s and 70’s,​ they will look to​ increase the​ dollars available to​ them .​
Once again,​ this is​ why a​ reverse mortgage is​ going to​ continue to​ be a​ popular financial strategy in​ the​ years to​ come.




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