A reverse mortgage allows homeowners ages 62 and older to borrow against the equity in their home without having to make monthly payments. The homeowner can receive funds as a lump sum, line of credit, or monthly payments. The loan is repaid when the last surviving homeowner permanently leaves the home, such as by selling it or passing away. Qualifying homeowners must be at least 62 years old, have a home value over $100k, and own their home outright or have substantial equity.

1. Reverse Mortgage
Presented By:
Syed Muhammad Ali

2. What is Mortgage?
 A mortgage is an agreement between a lender and a borrower, basically against a large amount
of money to purchase a house and then have that house as a defined collateral against the loan
incase the borrower defaults on the debt.
What is Reverse Mortgage?
 A reverse mortgage is a type of loan that allows homeowners ages 62 and older, typically who've paid off
their mortgage or have more than half equity, to borrow part of their home's equity as tax-free income.
 Basically covering the Senior Age Benefits for the homeowners older than 62 who do not have a definite
income or sources of income.
 Interest rate is charged.

3. How it Works
 RVM program works, by allowing homeowners ages 62 and above to borrow from your home’s equity
without having to pay any mortgage payments.
 You may choose to take your funds, in a lump sum amount, Line of Credit or Via Structured Monthly
Payments.
 The only condition for repayment of the loan is if you vacate your home permanently or plan on selling
it.
 Simply put, It is Mortgage that works in a reverse order. (Lender paying you to buy-out your property)

4. What happens at the
End?
 What happens at the end of a reverse mortgage?
 If you owe more than your home is worth, but sell your home for the appraised fair
market value, the remaining balance will be paid by mortgage insurance.
 When the last remaining borrower passes away, the loan has to be repaid. Most heirs
will repay the loan by selling the home.

5. Qualifiers
 Age of Prospect >= 62
 Loan to Value Ratio < 49% or equal to 0. (paid off)
 Current Market Value > $100k
 Interested in a call-back from the RVM Specialist to review the
program.
 Address + Zipcode
 Single Family Homes Only.
 First & Last name of the Customer.
 Bad states: AZ, CT, MA, NY, SC