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REVERSE MORTGAGE Facts

Retirement is a unique time in our lives, and presents its own unique and distinct financial challenges. Studies have shown that the average individual does not save as well as they should for retirement and therefore, arrives at retirement with an under-funded retirement account. If this sounds like you, don't feel bad, most of us fall into this category. Most homeowners have found that they have accumulated a huge amount of money in their home over the years and have much more of their wealth stuck in their home than in their liquid assets.

Fortunately, A FHA REVERSE MORTGAGE is a loan insured by the federal government for senior homeowners developed under particular guidelines set by U.S. Department of Housing and Urban Development (HUD). It is designed specifically to help senior homeowners access the equity in one`s home in a safe and secure manner while continuing to own and live in their home as long as they wish. Being able to access this equity helps you obtain additional money for whatever reason is important to you. Retirement has its financial challenges. With this in mind, a REVERSE MORTGAGE is a special loan for homeowners who are 62 and older, and may allow you to:**

  • Eliminate your current monthly mortgage payment.
  • Access some of the equity in your home to receive a monthly payment each month
  • Receive a lump sum.
  • Establish a credit line to be used at any time.
  • Improve your cash flow each month.
  • Use the money for any reason you see fit.
  • Afford the increased cost of living.
  • Make home improvements or repairs.
  • Make large purchases, such as a car or RV.
  • Eliminate credit card balances and payments.


In addition to the above, a REVERSE MORTGAGE also offers the following advantages:

  • The proceeds received from a REVERSE MORTGAGE are tax free
  • Does not affect your social security or Medicare benefits
  • You continue to own your home and title stays in your name.*
  • You may still give the home to your heirs
  • Both fixed and adjustable rates are offered
  • Most reverse programs are government insured.





Additionally, this new source of funds, if structured correctly, may help you reduce your income taxes, quickly "stuff" your retirement, supplement your income in the event of the death of your spouse, enable you to qualify for other government benefits you may not qualify for now, and help you protect yourself against your number one financial threat - long term care expense. Consult with a HomeSafe agent to discuss this powerful retirement tool with examples to prolong and preserve your retirement savings.

HomeSafe, is part of the Crossmark Financial corp. family, who is licensed by the California Bureau of Real Estate and subscribe to its code of ethics of straight, honest information and serving our client's needs.