Baby boomers-marketing-program-en-09-13-12

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Baby boomers-marketing-program-en-09-13-12

  1. 1. 1 You're a Baby Boomer. At 62+, you can buy a brand new Smart Green Home for HALF PRICE. Why is it SMART? You make a onetime payment of approximately $70,000-$90,000 using Reverse Purchase Mortgage, a special program guaranteed by the Federal Government. This is half the price of a brand new, average size Smart Green Home. The other half is financed by the bank with no income, no credit, no assets verification. You'll NEVER make a mortgage payment for the rest of your life Expect to pay approx. $150/month for power, water and insurance COMBINED! Florida Real Estate taxes are some of the lowest in the country and Flagler County has some of the lowest in the State. Along with our homestead exemption of $50,000 it’s another smart reason to build our Smart Green Home. Our houses are built without products that contain formaldehyde, chlorofluorocarbons, asbestos, fiberglass or other toxic materials. We use only Certified Green: Zero VOC Paint, Cabinetry and Carpet. It’s virtually allergen, mold, pollen, pollutant and dust free. The healthy environment inside keeps the occupants healthy, minimizing the need to visit the doctor quite so often. Reverse Purchase Mortgage Program. You've built-up a nest egg, have a "retirement fund," have come into a bequest, have members of your family able to "gift" you or and friends able to "back" you. You can enjoy paradise year 'round in a certified Florida Green Home and, all without having to pay one thin dime to a mortgage holder… EVER!
  2. 2. 2 If you're a Baby Boomer who's 62+, this is your plan.  Through a relatively simple transaction, you can Reverse Purchase your certified Green Home in paradise,  Making a onetime payment of roughly 50% of the contract amount, and nothing more.  The other half is financed by the bank with no income, no credit, no assets verification.  You hold title to your new Smart Green Home, and don't pay any financial institution anything for the rest of your life.  The arrangement is guaranteed by the U.S. Government! Reverse Mortgage Program. You can enjoy the best of both worlds... with a Reverse Mortgage. Live in your current home for the "good months" and in a certified Smart Green Home, in paradise, for all the other times, all with no monthly mortgage payment, all without having to pay one more thin dime to a mortgage holder… EVER! You've owned your current home for quite some time. By today's standards, you paid very little for it and over the course of time, it has appreciated. It's worth more, even in today's market, than you may have expected. But, selling it outright -today- may not be an easy task. Your current home is either paid-off OR there's very little remaining on the mortgage. Along the way, you've taken very good care of that home. Now it's time for that home to take care of you! If you're a Baby Boomer who's 62+, this is your plan.  In effect, you can own two homes, not one, and not be indebted to any financial institution for a mortgage payment for the rest of your life.  Your current home, that you've taken such good care of over the years, is your nest egg. Your equity in it (or, outright ownership of it) is, now, your line of credit to obtain your piece of paradise; your Florida Green Home in Greater Palm Coast/Flagler Beach/The Hammock.
  3. 3. 3  Through a relatively simple transaction, you can obtain a Reverse Mortgage that will give you, in cash, up to 50% of the value of your current home.  That can be used to purchase your Smart Green Home outright.  Now, you own TWO homes living a lifestyle that many cannot. You hold title to both of them, and don't pay any financial institution anything for the rest of your life.  The arrangement is guaranteed by the U.S. Government! Smart Homes for Smart People. Buying a Brand New Smart Green Home (through government guaranteed programs) means the buyer only has to come up with $70,000 - $90,000 (using Reverse Purchase Mortgage). We -simply- have to ask “Why wouldn't you want to wake up in the morning, throw open the sash or walk out the door, and smell the crispness of the pine, the sweetness of the flowers, watch the palms gently swaying in the ocean breeze, and take in the 24/7/365 green environment that, Mother Nature has so bountifully provided?" Greater Palm Coast/Flagler Beach/The Hammock is that paradise. Live in a Certified Green ecological area that provides a healthy environment and an active lifestyle. Calculate your savings. Retired people living in our healthy, robust Florida climate have healthier and more active golden years. So, let’s calculate how much money a couple 62+ can save when they buy a new Smart Green Home; one with three bedrooms, two baths and a two car garage - a total living area of approximately 1300 sq. ft.; making use of a program guaranteed by the Federal Government. Where do the savings come from? How can you calculate what you’re going to save? Assuming a period of 20 years, or 240 months, our calculations of average savings show:
  4. 4. 4 1. You will not be paying a monthly mortgage, which could be around $500/month. Multiply that by 240 months = $120,000. 2. You will be saving on your power, water and insurance payments, in the neighborhood of $150/month. Multiply that by 240 months = $36,000. 3. You will be saving on repairs and maintenance, because your home is brand new and of the highest quality. 4. Your savings over a 20 year period while living in a Smart Green Home could possibly be in the neighborhood of $156,000. ONE HUNDRED FIFTY SIX THOUSAND DOLLARS IN SAVINGS for 20years living in Green home built by Florida Green Homes, LLC. Want a child and your grandchildren to live close to you, but separately? We can build you a two-family home. You live in one half; your child and family in the other. With you as the owner, neither you nor your child will make a monthly mortgage payment ‘til the end of your life. The Federally guaranteed program allows you to do this! Multiply the savings on power, water, insurance and monthly mortgage payments by two families and the potential savings over the course of living in a Smart Green two- family home for 20 years could possibly be $300,000. Of course, you have the option of renting the other side out to a family that’s not related to you, and you’ll benefit from receiving that monthly rent check. What kind of value do you place on peace of mind? Many retirees never think ahead about how they’ll pay a monthly mortgage, or their utility bills and homeowners insurance premiums. Some of these expenses are bound to go up while pension and Social Security payments will not.
  5. 5. 5 Asks & Questions. 1. Am I eligible for a reverse mortgage? To qualify for a reverse mortgage, you must:  Be at least 62 years old. In the case of a couple or co-owners, both must be 62 if their names appear on the title to the home. *  Be a homeowner with equity in your home. You may qualify even if you have an outstanding balance on your first mortgage. Single-family homes and qualified condominiums, townhouses, manufactured homes, and 1- to 4-family owner- occupied residences are eligible. Cooperative apartments may be eligible by year-end 2002. * If one spouse or co-owner is under 62, that person's name must be removed from the title so that the other person can qualify for the reverse mortgage. 2. How much money can I get? This depends on a few factors, including your age at the time of loan closing, the value of your home, the amount of built-up home equity, and interest rates at the time of origination. Other factors are the type of reverse mortgage product and particular payment option you select. Calculators that can help you estimate how much you could receive under different products and payment options are available at NRMLA's Web site (http://www.reversemortgage.org), and from most reverse mortgage lenders and counselors. YOUR HOME MUST BE DEBT-FREE TO QUALIFY FOR A REVERSE MORTGAGE. INCORRECT. Even seniors with an outstanding first mortgage or some other debt on their home may qualify for a reverse mortgage. The proceeds of the reverse mortgage, though, must first be used to pay off such debts. 3. What are my payment options? You decide how to receive the money generated by a reverse mortgage. In general, your payment options are:  An upfront lump sum payment;  Line of credit;  Fixed monthly payments for as long as you remain in your home (or a predetermined, shorter period); or, if you choose,
  6. 6. 6  A combination of monthly income and line of credit. 4. How much does a reverse mortgage cost? What are the upfront and closing fees? Many of the same costs of home purchase mortgages apply to reverse mortgages. You can expect to be charged an origination fee, an upfront mortgage insurance fee (for FHA Home Equity Conversion Mortgages, or HECMs), an appraisal fee, and certain other standard closing costs. In most cases these fees and costs are capped and may be financed as part of the reverse mortgage. 5. Do I need to get an appraisal of my home to get a reverse mortgage? Yes. Since the value of your home is a factor in determining how much money you can get from a reverse mortgage, an appraisal is required. Normally the lender will order the appraisal, which is paid for by the borrower at the time of application. 6. Do I need a lawyer to apply for a reverse mortgage? Legal counsel is not required. However, NRMLA encourages you to seek the advice of a legal, tax, or financial advisor before committing to a reverse mortgage. 7. Am I required to receive counseling before I get a reverse mortgage? Yes. Counseling, one of the safeguards of reverse mortgages, is required for all three current reverse mortgage products before you can obtain a loan. Counseling is an educational session at which you are informed about reverse mortgages and your other options. You can get the name of a local counseling agency or qualified telephone counselor from a reverse mortgage lender or by calling  AARP (toll-free 1-800-424-3410)  Fannie Mae's Homepath service (toll-free 1-800-732-6643)  HUD's Housing Counseling Clearinghouse (toll-free 1-888-466-3487). 8. Is the money from a reverse mortgage taxable income? Funds from a reverse mortgage are tax-free; it's your money, not additional income. 9. Will it affect my Social Security benefits or other government benefits? A reverse mortgage does not affect regular Social Security or Medicare benefits. To assess the impact, if any, on other federal or state assistance or medical programs, you may wish to consult with your local Area Agency on Aging (to locate, call 1-800-677- 1116, or visit http://eldercare.gov), a reverse mortgage lender, or a tax attorney.
  7. 7. 7 THE BANK OWNS THE HOME AFTER YOU GET A REVERSE MORTGAGE. INCORRECT. You own your home and retain title throughout the life of the reverse mortgage. Once you permanently move out of your home or pass it to your estate, the loan must be repaid. 10. Who owns title to my home while my reverse mortgage is outstanding – the bank or me? You retain title to your home during the period when you have a reverse mortgage, just the same as with a regular home purchase mortgage. 11. Am I required to pay anything during the course of the reverse mortgage loan? No. The flow of payments is reversed during the term of the reverse mortgage – the lending institution pays you. However, you are responsible for keeping up payments for your homeowner's insurance and property taxes, and to maintain the condition of your home. 12. Are there any limits on how I can use the funds from a reverse mortgage? No. Borrowers have spent the funds from reverse mortgages for a variety of purposes. Among these have been to pay health care expenses, supplemental retirement income, home improvements, home modifications, higher education, gifts to others, and long- term care insurance premiums. Some have used a reverse mortgage to purchase recreational vehicles, start a small business, and travel the Amazon. Some have used reverse mortgages to eliminate expenses by paying off mortgages and credit card debt. The only limit on how you use a reverse mortgage is your imagination. 13. What is the interest rate on a reverse mortgage and how is it determined? The interest rate varies by type of reverse mortgage.  For the HECM, the most popular product, the interest rate isadjusted either monthly or annually (the borrower chooses)based on an index called the "1- Year U.S. Treasury Constant Maturity Rate," which changes weekly.  For monthly adjusting HECMs, the interest rate charged on the loan for the next month is equal to the current 1-Year Treasury rate plus 1.5%.  For annually adjusting HECMs, the interest rate charged on the loan for the next year is equal to the current 1-Year Treasury rate plus 2.1%.
  8. 8. 8  For Fannie Mae Home Keeper loans, the interest rate charged on the loan for the next month is equal to the current "1-Month Certificate of Deposit Secondary Market Rate" plus 3.4%.  For the Financial Freedom Cash Account loan, the interest rate charged on the loan for the next six months is equal to the current LIBOR rate (London InterBank Offered Rate) plus a margin. The margin is 5.0% for the Cash Account product with the standard benefit option and 4.0% for the Cash Account product with the high benefit option.  The latest 1-Year Treasury rate and 1-Month CD rate are issued by the Federal Reserve Board, and are published – along with the LIBOR rate – in financial newspapers. Interest charged on a reverse mortgage is "accrued." That is, there is no payment of interest until the loan comes due. 14. What are equity share reverse mortgages? Loans with an equity share feature allow you to receive a greater cash benefit in exchange for a portion of your home's future value. One of the reverse mortgage products currently available offers an equity share option. The potential amount shared is limited by an overall interest rate cap. All reverse mortgages offered today have built- in consumer protection features that prevent you or your heirs from owning more than the value of your home at the time the loan comes due – even if your home declines in value. This risk is assumed by the lender. WHEN A REVERSE MORTGAGE COMES DUE, THE BANK SELLS THE HOME. INCORRECT. When the loan must be repaid, you or your heirs can either pay the balance due on the reverse mortgage and keep the home, or sell the home and use the proceeds to pay off the reverse mortgage. 15. What happens if I move out of my house after I get a reverse mortgage? Once you no longer occupy your home as your principal residence for more than one year, the reverse mortgage comes due and must be repaid. Similarly, if you sell your house, the reverse mortgage comes due. 16. What happens when my house gets passed to my heirs? Once your home is passed to your heirs, the reverse mortgage comes due. Your heirs may either pay the balance due on the reverse mortgage and keep the home, or sell the home and use the proceeds to pay off the reverse mortgage. If they sell the home, they get to keep any excess sales proceeds.
  9. 9. 9 17. And most important – Where can I get a reverse mortgage? Reverse mortgages are offered mostly by private, specialized lenders. For a list of lenders who belong to NRMLA who offer reverse mortgages in your state, visit NRMLA's Web site, http://www.reversemortgage.org (Click on Find a Lender), or call NRMLA, 1-866-264-4466. COME BUILD WITH US YOUR HEALTHY, ACTIVE, ECONOMICAL LIFE STYLE! Read on… You've put in your time, you've paid your dues and, your life's just about to begin! Come live with us in paradise. Full or part time. It's your choice. We -simply- have to ask “Why wouldn't you want to wake up in the morning, throw open the sash or walk out the door, and smell the crispness of the pine, the sweetness of the flowers, watch the palms gently swaying in the ocean breeze, and take in the 24/7/365 green environment that, Mother Nature has so bountifully provided?" Greater Palm Coast/Flagler Beach/The Hammock is that paradise. Palm Coast, by-the-way, is one of the few cities in Florida certified Green by the Florida Green Building Coalition. There's so much to see, experience and participate in, here. It's a lifestyle like no other! The air is crisp and clean. There's little traffic or congestion. The schools are top-notch. There are houses of worship representing a broad spectrum of faiths. And, let's not forget, Stage shows and concerts. There are local productions of high quality; and "bus & truck" performances from the entertainment centers of the country presented locally, as-well-as in St Augustine and Jacksonville to the North; Daytona Beach and Orlando to the South… both easily reached within an hour or so. Restaurants and cuisine for all tastes; served in beautiful, formal restaurants, casual pubs and outdoor cafes - by staff that care about your enjoyment and who smile as they go about their duties
  10. 10. 10  Golf… one of the highest "golf courses per capita" areas in the country  Tennis… courts galore, and a community tennis center recently recognized and awarded the Outstanding Public Facility Award for 2010 by the U.S. Tennis Association.  Fresh water and ocean fishing - deep sea, pier and beach  Hiking/jogging/biking trails… miles and miles of them  Historic preserves… steeped in the history of Florida and the Nation  Youth, sports and nature parks… virtually everywhere you look  The Atlantic Ocean and the Inland Waterway… bring your watercraft OR rent one, here  And all of this is within minutes of a desirable home site. Your home site!  A ten or fifteen minute walk or drive brings you to all the area has to offer… not an hour PLUS excursion.  Our lifestyle is healthy… active… yet, relaxing.  It just doesn't get much better than this ! ! ! How could it get any better ? ? ? Why, your residence, of course. If you're living in paradise, shouldn’t your home rise to the same standard? Each Florida Green Homes owner receives certificates from six different organizations attesting to the fact that their new home is certified green… including -on the Federal level- the Environmental Protection Agency.
  11. 11. 11 The Platinum Certificate depicted is one of a very few awarded by the Florida Green Building Coalition throughout the State. It is an honor and an industry recognition we are, rightly, proud of. It represents being awarded some of the highest point tallies in a broad range of categories; all dealing with safety, health, energy efficiency, eco- friendliness, and more! Without any housing payments due for the rest of your life and anticipated savings on you utilities, maintenance and insurance… you will be healthy and live a long life – free of financial problems.

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