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Gary Zimmermann from ENVOY MORTGAGE did his presentation on 03/28/12 at the Milwaukee Networking Club. Check out the presentation and the video clip and if you want more information goto

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  • Garage Door Opener– don’t Try this at home.
  • Garage Door Opener– don’t Try this at home

    1. 1. Gary Zimmermann FHA Loan OfficerApproved FHA LenderNMLS # 54024 Corporate #6666
    2. 2.  WHO Are We? Over 15 years in Marshfield, Wisconsin #1 Local Reverse Mortgage Lender In Wisconsin Dedicated Staff Experienced in Reverse Mortgages BBB Accredited Business with A+ Rating 1st Lender outside of Milwaukee to offer RM eight years ago!
    3. 3.  Tax Free Cash from Equity 50-80% Never a Monthly Payment Never Owe More than Home Value --- FHA Guarantee Age 62 or Older FHA Qualified Home 3 Payment plans– Lump Sum, Credit Line, Monthly payments, Fixed and Adjustable Rates 3-5% -- varying closing costs
    4. 4. •You Keep The Title To Your Home•The Cash You Receive Is Tax Free•Your Social Security And Medicare Benefits Will Not Change•You Make No Payments As Long As You Occupy Your Home•No Income Or Credit To Qualify•No Medical Requirements
    5. 5.  DOES NOT require good credit to qualify NO repayment during the life of the loan DOES NOT require repayment until  The last living borrower permanently leaves the home  Borrower chooses to sell the property
    6. 6.  Did you know that about 98% of homeowners over 62 have never responded to the TV ads featuring: Robert Wagner Fred Thompson And Henry Winkler? WHY?Not Knowingand Not Understandinghow to use the Tool.We Use the TEAM Approach.
    7. 7.  A Paradigm shift is a  The Old Days: change in one’s A Reverse Mortgage is perspective or thinking for People who are in financial distress. Garage Door Openers  Wall Street Journal The Loan of Last Resort
    9. 9. 1. I Will Lose My Home!2. The Government Will Tell Me What to Do!3. A Reverse Mortgage is Way Too Expensive!4. My Kids Won’t Like This—They’re Going to Get Hurt!Turn on the Light!
    10. 10. The Deed to Your Home Stays With Your Home– You will NEVER give up ownership.You are responsible for maintenance, real estate taxes, andhomeowners insurance. If you wish to move or sell your home,you can do so at any time. BUT, we can never ask you to moveearly as long as you maintain, insure the home and pay taxes.
    11. 11. Reverse Mortgage Closing Costs Have Dropped!1. Lower Fixed and Adjustable Rates2. Optional Waived Mortgage Insurance Premium3. Paid with Equity NOT Cash
    12. 12. The Kids Won’t Like It!1. Maximum Inheritance2. Percentage of Kids Who Move In3. Good Kids Bad Kids
    13. 13.  Retirement is a change in philosophy It is a change in Spending Cash Flow Immediately and Continuously Impacts the Nest Egg It is Quiet and Deceptive Taxes, Maintenance, Insurance, Mortgage Payment etc.
    14. 14. 401K  Real IRA SS Estate Pension  HomeNest PT WorkEgg Income
    15. 15.  HECMs are Simple Financial Tools That Convert Equity into Cash. Equity is Good, Cash is Great! A Little Bit Like Installing a Special Faucet on the Side of Your Home
    16. 16.  The only value of equity  Example: is for the future. You will gain nothing from  Mortgage Payment of putting money into $800 per month is equity today! $96,000 over 10 years If equity is designed to  Will create varying pass on to your children amounts of equity then give it to them in a depending on more valuable, amortization schedule predictable, form.  Guaranteed to lose $96,000 in cash flow!
    17. 17.  I can make my payments  Wait until I am a little I don’t need the money older  When house values go up  When I run out of money
    18. 18. Estate Planning with Medicaid in Mind
    19. 19.  Life Insurance New Products Similar to a 401k or IRA Nursing Home and Medicaid Issues Early Gifting Charity Transfers General Liquidity Pass Wealth with Wisdom
    20. 20.  Vacations and Travel  Estate Plans Existing Mortgage and  Wealth Transfer and Taxes Gifting Cars, Bikes, and  Charity/Donations Motorhomes  Funeral – Memorial 2nd Homes Stones Health Care  Life Insurance/ Home Remodeling Annuities College Tuition
    21. 21.  Wills  Probate Prevention Trusts  Medicaid Rules Marital Agreements  Unintended Titling of Assets Consequences Estate Plans  Professional Advice and Business and Farm Discussion Transfers  Emotion Vs. Facts My Parents– Orderly VS Disorderly
    22. 22.  Most adult children favor parents RM Excellent Client Satisfaction—over 90% positive after 1 year Most Seniors Thank Advisors For Referrals to Reverse Mortgages Many Reverse Mortgages are Life Changing The Ultimate Gift and Early Gifting Passing Wisdom with Wealth
    23. 23.  FHA guarantees No repayment of the loan until the las t borrower moves out, s ells or pas s es away When you move out of your home, you or your es tate has up to12 months to repay the loan. No penalty for early payment This loan is a non-recours e loan (If the balanc e on the loan exc eeds the home value, HUD/FHA makes up the differenc e!) Heirs or es tate keep any exces s proceeds from the s ale of the home
    24. 24.  1. Uncertainties of The Real Estate Market 2. Uncertainties of Health/Nursing Home 3. Low Interest Rates 4. Economy Fluctuations 5. Estate Planning 6. Early Gifting 7. Fun and Enjoyment – Rainy DayProtection From The What If’s
    25. 25. You can buy a new homewithout selling your old oneBuy that Lake home that you thoughtYou couldn’t afford!Buy that Condo in Floridathat is about half price.Time to downsize…buy a condo orsmaller home, but never make apayment and invest the difference withyour financial planner
    26. 26. 1. Home Values Are Going to be Volatile2. Interest Rates Will Go Up resulting in LESS CASH out of the mortgage3. Inflation Will Increase Prices.4. Tax Rates Will Go Up5. Congress Will Change the Rules
    27. 27.  Help us evaluate your financial situation Begin with the End in Mind -- TEAM approach A few simple questions we ask  Do I want to live in my house as long as possible or move to another home?  How much equity do I have in my home?  Could my family and I benefit from extra cash or income now?  Does my estate plan really account for my home?  What am I eligible for and how will it change my life or my children’s life?
    28. 28. ???
    29. 29. Enjoy Retirement – You’ve Earned It Don’t Lose What You Have Worked so Hard to Create…. Thank YouPlease contact us for a free consultation: Envoy Mortgage, L.P. Licensed by the Dept. of Corporations under the Ohio #MBMB.8500025.000 IN #10898 KY #MC23382 Residential Mortgage Lending Act, , NMLS #6666, This is not a commitment to lend and collateral subject to approval