Reverse Mortgage Hawaii acts as a beneficial tool for seniors who are 62 years or older than that. It is a perfect way to improve your financial situation after retirement period. It is important to know everything about reverse mortgage before availing this type of loan. In this PPT, you’ll learn all important things related to reverse mortgage in Hawaii.

1. THINGS TO
KNOW ABOUT
HAWAII
REVERSE
MORTGAGE

2. Before discussing about the things and facts
about reverse mortgage in Hawaii, it would be
good to understand basics about Hawaii reverse
mortgage.
It's no secret that the home equity for numerous
people in the senior community is around 30% of
their net income. If you have significant equity in
your home and you are at least 62 years old, you
are eligible for reverse mortgage in Hawaii. It will
turn your equity into tax-free cash, save your
home, and eliminates monthly payments. Age
and home equity are the major qualifying factors
for reverse mortgage.

3. History of Reverse Mortgage Hawaii
• Reverse mortgage was started initially in 1961 by
Deering Savings & Loan in Portland, Maine.
• Multiple lenders provided this type of loan in the
1970's.
• American Homestead created a program for reverse
mortgage in 1984.
• The demand of reverse mortgage Hawaii has risen up
to a great extent in 2000s.
• In 2012, the market originated HECM loans.

4. Now let’s come to the actual topic
i.e. things and facts about reverse
mortgage in Hawaii. The first thing
is the requirement of counseling.
Part of reverse mortgage Hawaii
process is to attend a counseling
session with HUD approved
counselor in Hawaii. In this
counseling session, the HUD
approved counselor reviews your
financial options. This session
ensures that you know your
financial options.

5. All spouses to be on the loan! It is
important for all spouses to be on the
reverse mortgage in Hawaii. It means
that all spouses must be at least 62
years old. Having both spouses on
the reverse mortgage loan is quite
important in case something happen
to either spouse, the other spouse
can continue to live in the home.
Remaining spouse will pay taxes and
property insurance.

6. It is important thing to know that you can still
leave your home with your heirs. Your heirs have
the option to sell the property, keep the property
and they don't have to be responsible for the
property if you are no longer living in your home.

7. You may or may not know that
you can live in your home without
making monthly mortgage
payments. The Hawaii reverse
mortgage lender offers money to
the client with no requirement of
monthly mortgage payment.

8. It would be good to know that the
reverse mortgage Hawaii doesn't affect
your social security or pension benefits.
It may affect Medicaid and
Supplemental Security Income. It is
advisable to contact your financial
advisor to make sure that your benefits
are not affected under reverse
mortgage in Hawaii.

9. Keep in mind that reverse mortgage Hawaii is a
helpful tool when used in a well thought out
monetary plan for seniors. It’s no secret that Hawaii
reverse mortgage is a perfect way for you to
improve your monetary situation in retirement.

10. Thanks For Watching
Aloha Mortgage Solution
For More Visit Here
http://www.alohamortgagesolutions.
com/