This document provides an agenda for a presentation on unlocking home equity through reverse mortgages. The presentation covers meeting the presenter, defining reverse mortgages, quantifying retirement concerns related to longevity, liquidity, legacy, and lifestyle. It discusses using a reverse mortgage to access home equity through a line of credit, tenure payments, or term payments. The presentation also explores how reverse mortgages can be used strategically for asset management, mortgages payoff, home repairs, and more. Key takeaways focus on understanding how much equity can be accessed based on age, interest rates, and home value, as well as how equity can be accessed. The presentation concludes by inviting attendees to schedule a consultation to
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), allows homeowners aged 62 and older to convert a portion of the equity in their home into tax-free loan proceeds. The loan does not need to be repaid as long as the borrower lives in the home, and the borrower retains ownership and title. The loan is insured by the Federal Housing Administration so there is no risk to heirs if the loan balance exceeds the home value upon the borrower's passing. Borrowers must undergo counseling to understand the product but there are no restrictions on how the funds can be used. Qualification is based on age, home value and equity rather than income or credit history.
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a government-regulated loan for seniors aged 62 and older that allows them to access equity in their home without making monthly payments. Borrowers retain title to their home and are not required to make payments as long as they live in the home. The loan is repaid when the last surviving homeowner no longer lives in the property. Borrowers can receive funds as a lump sum, line of credit, monthly payments, or a combination. There are no restrictions on how borrowers use the funds and the loan does not affect Social Security benefits.
Southwest Funding, LP a leader in Home Equity Conversion Mortgages more commonly know as a Reverse Mortgage. We are here to help you make an informed decision.
A reverse mortgage allows senior homeowners to access equity in their home without making monthly payments. It provides funds via a monthly payment, lump sum, or line of credit. The homeowner retains ownership and can live in the home until passing away. The loan is repaid upon moving out or passing of the last surviving homeowner. Qualification requires being at least 62 years old, owning the home, and having sufficient equity. Costs of 5% of the loan amount are financed into the loan balance. Counseling is required to ensure the homeowner understands the product.
The document discusses common misconceptions about reverse mortgages and provides facts to address each myth. Some of the myths addressed include that the bank takes the home, the home must be debt-free to qualify, the bank sells the home when the loan is due, only seniors in need qualify, and that proceeds impact benefits. In each case, facts are provided to clarify the actual terms and flexibility of reverse mortgages.
A reverse mortgage allows senior homeowners aged 62 or older to convert equity in their home into tax-free cash payments, while continuing to live in their home. They do not require monthly mortgage payments or repayment of the loan until the last borrower permanently moves out or passes away. Common myths about reverse mortgages include that the borrower could lose ownership of their home or owe more than their home is worth, but reverse mortgages are structured to protect borrowers from these outcomes. Eligibility requires the home to be the borrower's primary residence and for them to receive counseling on reverse mortgage options and costs.
- A reverse mortgage allows homeowners aged 62 or older to convert their home equity into tax-free cash without making monthly payments. The lender pays the homeowner instead through options like lump sums, monthly payments, or a line of credit.
- Borrowers retain ownership of their home and cannot owe more than its value. They must continue living there as their primary residence and pay taxes/insurance. The loan is repaid when the last borrower dies, sells the home, or fails to meet obligations.
- The amount borrowers can access depends on their age, home value, interest rates, and lending limits. They have flexibility to use funds for any purpose like eliminating debt or home improvements.
This document provides information about federally insured cash accounts and reverse mortgages. It summarizes that these programs allow homeowners age 62 or older to tap into their home equity for cash without making monthly payments. The cash can be used for various expenses and is only repaid when the homeowner passes away or sells the home, with no liability for heirs. It encourages contacting Ginny Cooper at 800-554-4325 to learn more about qualifying and applying.
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), allows homeowners aged 62 and older to convert a portion of the equity in their home into tax-free loan proceeds. The loan does not need to be repaid as long as the borrower lives in the home, and the borrower retains ownership and title. The loan is insured by the Federal Housing Administration so there is no risk to heirs if the loan balance exceeds the home value upon the borrower's passing. Borrowers must undergo counseling to understand the product but there are no restrictions on how the funds can be used. Qualification is based on age, home value and equity rather than income or credit history.
A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is a government-regulated loan for seniors aged 62 and older that allows them to access equity in their home without making monthly payments. Borrowers retain title to their home and are not required to make payments as long as they live in the home. The loan is repaid when the last surviving homeowner no longer lives in the property. Borrowers can receive funds as a lump sum, line of credit, monthly payments, or a combination. There are no restrictions on how borrowers use the funds and the loan does not affect Social Security benefits.
Southwest Funding, LP a leader in Home Equity Conversion Mortgages more commonly know as a Reverse Mortgage. We are here to help you make an informed decision.
A reverse mortgage allows senior homeowners to access equity in their home without making monthly payments. It provides funds via a monthly payment, lump sum, or line of credit. The homeowner retains ownership and can live in the home until passing away. The loan is repaid upon moving out or passing of the last surviving homeowner. Qualification requires being at least 62 years old, owning the home, and having sufficient equity. Costs of 5% of the loan amount are financed into the loan balance. Counseling is required to ensure the homeowner understands the product.
The document discusses common misconceptions about reverse mortgages and provides facts to address each myth. Some of the myths addressed include that the bank takes the home, the home must be debt-free to qualify, the bank sells the home when the loan is due, only seniors in need qualify, and that proceeds impact benefits. In each case, facts are provided to clarify the actual terms and flexibility of reverse mortgages.
A reverse mortgage allows senior homeowners aged 62 or older to convert equity in their home into tax-free cash payments, while continuing to live in their home. They do not require monthly mortgage payments or repayment of the loan until the last borrower permanently moves out or passes away. Common myths about reverse mortgages include that the borrower could lose ownership of their home or owe more than their home is worth, but reverse mortgages are structured to protect borrowers from these outcomes. Eligibility requires the home to be the borrower's primary residence and for them to receive counseling on reverse mortgage options and costs.
- A reverse mortgage allows homeowners aged 62 or older to convert their home equity into tax-free cash without making monthly payments. The lender pays the homeowner instead through options like lump sums, monthly payments, or a line of credit.
- Borrowers retain ownership of their home and cannot owe more than its value. They must continue living there as their primary residence and pay taxes/insurance. The loan is repaid when the last borrower dies, sells the home, or fails to meet obligations.
- The amount borrowers can access depends on their age, home value, interest rates, and lending limits. They have flexibility to use funds for any purpose like eliminating debt or home improvements.
This document provides information about federally insured cash accounts and reverse mortgages. It summarizes that these programs allow homeowners age 62 or older to tap into their home equity for cash without making monthly payments. The cash can be used for various expenses and is only repaid when the homeowner passes away or sells the home, with no liability for heirs. It encourages contacting Ginny Cooper at 800-554-4325 to learn more about qualifying and applying.
This document provides information on long-term care options for seniors including staying at home, caregivers, government assistance, long-term care insurance, and reverse mortgages. It notes that family members are often primary caregivers but many women who traditionally served this role are now working. It outlines 5 guidelines for shopping for long-term care insurance including buying at age 65, choosing a strong insurer, getting a flexible policy, ensuring coverage of future costs, and a 4-year benefit plan. The document also describes reverse mortgages as enabling homeowners to access equity in their home to fund additional needs and lists eligibility requirements.
Reverse Mortgage Overview Greg Mc Dermott 9 09ReverseSage
A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash by taking out a loan against their home. Unlike a traditional mortgage, no repayment is required as long as the homeowner lives in the property as their primary residence. The loan proceeds can be used for any purpose and do not affect Social Security or Medicare benefits. As long as all program requirements are met, including maintaining the property and paying taxes/insurance, the homeowner retains ownership of their home and cannot owe more than its value.
FHA Reverse Mortgage Purchase loan product designed for consumers 62 or older who want to downsize and buy a smaller home, but lack the income requirements for a conventional mortgage.
A reverse mortgage allows senior homeowners to convert the equity in their home into tax-free cash payments without having to make monthly mortgage payments. Key benefits include using the cash to fulfill dreams, afford healthcare costs or travel, improve one's home, and gain peace of mind. The document provides information on how reverse mortgages work, who qualifies, available payment options, and closing costs.
A decent presentation about Reverse Mortgages and how they work. I honestly do not remember where I got this from and I hope it is not a problem that I ma posting it.
This document discusses key issues and risks associated with using reverse mortgages for aging in place. It provides an overview of reverse mortgages, including consumer protections and counseling requirements. It also examines factors that affect the suitability of reverse mortgages for individual borrowers and risks of withdrawing large sums that can deplete equity and increase foreclosure risk. The document advocates for improving counseling and finding meaningful options to help older homeowners address financial needs while maintaining homeownership.
Reverse for purchase for Realtors ppt 8 8-2019Jack Benke
As we age, the home we lived in for 40 years may no longer work. Transitioning to more suitable housing can be difficult because the value of the home we live in is less then the new home we want to purchase. Here is the solution, if you are 62+.
Advisor Reverse Mortgages Presentation Final 1.14Joe Conrad
Joe Conrad is a reverse mortgage specialist with over 25 years of experience, focusing on reverse mortgages for the last 8 years. He takes a comprehensive planning approach to reverse mortgages, carefully analyzing clients' cash flow, equity, and assets. He aims to provide great service to any clients referred by partners. The document promotes reverse mortgages as a way for advisors to provide more value to their clients.
1. The document advertises a program where baby boomers aged 62+ can purchase a new "Smart Green Home" for half the price using a reverse mortgage with no monthly payments. The home would have low utility bills and taxes in Florida.
2. It details how the reverse mortgage program works, allowing buyers to make a one-time payment of around $70,000-$90,000 for half the home's price, with the other half financed by the bank with no verification of income, credit, or assets. The buyer would never have to make a mortgage payment.
3. It claims that over 20 years living in such a home, buyers could save over $150,000 versus paying a monthly mortgage
1. A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash without making monthly payments. The loan does not need to be repaid as long as the homeowner lives in the property as their primary residence.
2. Homeowners have flexibility in how they receive the loan proceeds, which can be used for any purpose. They retain ownership of their home and the lender cannot force a sale of the property.
3. A reverse mortgage has costs and fees, but it enables older homeowners to access equity in their home to supplement their retirement income or pay for other expenses.
1. A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash without making monthly payments. The loan does not need to be repaid as long as the homeowner lives in the property as their primary residence.
2. Homeowners have flexibility in how they receive the loan proceeds, which can be used for any purpose. They retain ownership of their home and the lender cannot force a sale of the property.
3. A reverse mortgage has costs and fees, but it enables older homeowners to access equity in their home to supplement their retirement income or pay for other expenses.
A Home Equity Conversion Mortgage (HECM) for Purchase allows seniors to buy a new home using equity from the sale of their previous home without making monthly mortgage payments. It is an FHA-insured loan for homeowners aged 62+ that provides affordability and purchasing power to buy a primary residence. Seniors can right-size to a smaller home, purchase a retirement home, or buy a second home to rent out their existing home. The HECM for Purchase may help sellers reach more senior buyers and convert renters to homeowners. Borrowers must occupy the home, pay taxes and insurance, and the loan amount cannot exceed the home's value.
1) The document discusses reverse mortgages, which allow homeowners aged 62+ to convert equity in their home into tax-free funds without having to sell their home or make monthly payments.
2) Wells Fargo is a leading provider of reverse mortgages, offering flexible payment options like lump sums, monthly payments, or lines of credit.
3) Reverse mortgages only need to be repaid when the homeowner dies or moves out permanently, and the homeowner retains ownership and title to their home.
This document provides an overview of homeownership options through Rural Development including direct loans, leveraged loans, and guaranteed loans. It discusses eligibility requirements such as income limits and credit history. Direct loans offer 100% financing up to 33 years at an interest rate as low as 1% with no down payment or mortgage insurance required. Leveraged and guaranteed loans allow moderate-income families to purchase homes through approved lenders. The workshop agenda reviews whether attendees are ready for homeownership and debunks common myths.
A Home Equity Conversion Mortgage (HECM) for Purchase allows seniors to buy a new home using equity from the sale of their previous home and other assets. It is an FHA-insured loan that requires no monthly mortgage payments. Borrowers must be 62 years or older and use the home as their primary residence. The loan provides qualifying seniors with funds to purchase a home while eliminating monthly payments. Eligibility requirements include the youngest borrower being 62+, the purchased home being the primary residence, and the HECM for Purchase being the only mortgage loan used for the purchase.
CAN YOU IMAGINE BUYING WITH NO CREDIT SCORE REQUIREMENTS, NO DEBT TO INCOME REQUIREMENTS
ITS HERE NOW !! Changing perspective on Reverse Mortgage the NEW HOME EQUITY CONVERSION MORTGAGE
A reverse mortgage is a type of home equity loan for seniors that allows homeowners to borrow against the equity in their home without having to make monthly payments. The loan does not need to be repaid until the homeowner passes away or no longer lives in the home as their primary residence. Reverse mortgages allow seniors to unlock the equity in their home and use it to supplement their retirement income without having to sell their home or take on traditional debt. They differ from traditional mortgages in that no monthly payments are required and the loan does not become due until a future date.
The document discusses how reverse mortgages allow homeowners aged 62 and older to access equity in their homes as cash without requiring monthly mortgage payments. It notes that many seniors rely on home equity for over half their net worth and use reverse mortgages to fund living expenses and retirement. While some misconceptions about reverse mortgages exist, over 95% of clients surveyed were satisfied, as reverse mortgages provide extra cash and payment of existing mortgages. The document encourages homeowners to learn more about how a reverse mortgage could help them enjoy retirement.
This document provides information on long-term care options for seniors including staying at home, caregivers, government assistance, long-term care insurance, and reverse mortgages. It notes that family members are often primary caregivers but many women who traditionally served this role are now working. It outlines 5 guidelines for shopping for long-term care insurance including buying at age 65, choosing a strong insurer, getting a flexible policy, ensuring coverage of future costs, and a 4-year benefit plan. The document also describes reverse mortgages as enabling homeowners to access equity in their home to fund additional needs and lists eligibility requirements.
Reverse Mortgage Overview Greg Mc Dermott 9 09ReverseSage
A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash by taking out a loan against their home. Unlike a traditional mortgage, no repayment is required as long as the homeowner lives in the property as their primary residence. The loan proceeds can be used for any purpose and do not affect Social Security or Medicare benefits. As long as all program requirements are met, including maintaining the property and paying taxes/insurance, the homeowner retains ownership of their home and cannot owe more than its value.
FHA Reverse Mortgage Purchase loan product designed for consumers 62 or older who want to downsize and buy a smaller home, but lack the income requirements for a conventional mortgage.
A reverse mortgage allows senior homeowners to convert the equity in their home into tax-free cash payments without having to make monthly mortgage payments. Key benefits include using the cash to fulfill dreams, afford healthcare costs or travel, improve one's home, and gain peace of mind. The document provides information on how reverse mortgages work, who qualifies, available payment options, and closing costs.
A decent presentation about Reverse Mortgages and how they work. I honestly do not remember where I got this from and I hope it is not a problem that I ma posting it.
This document discusses key issues and risks associated with using reverse mortgages for aging in place. It provides an overview of reverse mortgages, including consumer protections and counseling requirements. It also examines factors that affect the suitability of reverse mortgages for individual borrowers and risks of withdrawing large sums that can deplete equity and increase foreclosure risk. The document advocates for improving counseling and finding meaningful options to help older homeowners address financial needs while maintaining homeownership.
Reverse for purchase for Realtors ppt 8 8-2019Jack Benke
As we age, the home we lived in for 40 years may no longer work. Transitioning to more suitable housing can be difficult because the value of the home we live in is less then the new home we want to purchase. Here is the solution, if you are 62+.
Advisor Reverse Mortgages Presentation Final 1.14Joe Conrad
Joe Conrad is a reverse mortgage specialist with over 25 years of experience, focusing on reverse mortgages for the last 8 years. He takes a comprehensive planning approach to reverse mortgages, carefully analyzing clients' cash flow, equity, and assets. He aims to provide great service to any clients referred by partners. The document promotes reverse mortgages as a way for advisors to provide more value to their clients.
1. The document advertises a program where baby boomers aged 62+ can purchase a new "Smart Green Home" for half the price using a reverse mortgage with no monthly payments. The home would have low utility bills and taxes in Florida.
2. It details how the reverse mortgage program works, allowing buyers to make a one-time payment of around $70,000-$90,000 for half the home's price, with the other half financed by the bank with no verification of income, credit, or assets. The buyer would never have to make a mortgage payment.
3. It claims that over 20 years living in such a home, buyers could save over $150,000 versus paying a monthly mortgage
1. A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash without making monthly payments. The loan does not need to be repaid as long as the homeowner lives in the property as their primary residence.
2. Homeowners have flexibility in how they receive the loan proceeds, which can be used for any purpose. They retain ownership of their home and the lender cannot force a sale of the property.
3. A reverse mortgage has costs and fees, but it enables older homeowners to access equity in their home to supplement their retirement income or pay for other expenses.
1. A reverse mortgage allows homeowners aged 62 and older to convert their home equity into tax-free cash without making monthly payments. The loan does not need to be repaid as long as the homeowner lives in the property as their primary residence.
2. Homeowners have flexibility in how they receive the loan proceeds, which can be used for any purpose. They retain ownership of their home and the lender cannot force a sale of the property.
3. A reverse mortgage has costs and fees, but it enables older homeowners to access equity in their home to supplement their retirement income or pay for other expenses.
A Home Equity Conversion Mortgage (HECM) for Purchase allows seniors to buy a new home using equity from the sale of their previous home without making monthly mortgage payments. It is an FHA-insured loan for homeowners aged 62+ that provides affordability and purchasing power to buy a primary residence. Seniors can right-size to a smaller home, purchase a retirement home, or buy a second home to rent out their existing home. The HECM for Purchase may help sellers reach more senior buyers and convert renters to homeowners. Borrowers must occupy the home, pay taxes and insurance, and the loan amount cannot exceed the home's value.
1) The document discusses reverse mortgages, which allow homeowners aged 62+ to convert equity in their home into tax-free funds without having to sell their home or make monthly payments.
2) Wells Fargo is a leading provider of reverse mortgages, offering flexible payment options like lump sums, monthly payments, or lines of credit.
3) Reverse mortgages only need to be repaid when the homeowner dies or moves out permanently, and the homeowner retains ownership and title to their home.
This document provides an overview of homeownership options through Rural Development including direct loans, leveraged loans, and guaranteed loans. It discusses eligibility requirements such as income limits and credit history. Direct loans offer 100% financing up to 33 years at an interest rate as low as 1% with no down payment or mortgage insurance required. Leveraged and guaranteed loans allow moderate-income families to purchase homes through approved lenders. The workshop agenda reviews whether attendees are ready for homeownership and debunks common myths.
A Home Equity Conversion Mortgage (HECM) for Purchase allows seniors to buy a new home using equity from the sale of their previous home and other assets. It is an FHA-insured loan that requires no monthly mortgage payments. Borrowers must be 62 years or older and use the home as their primary residence. The loan provides qualifying seniors with funds to purchase a home while eliminating monthly payments. Eligibility requirements include the youngest borrower being 62+, the purchased home being the primary residence, and the HECM for Purchase being the only mortgage loan used for the purchase.
CAN YOU IMAGINE BUYING WITH NO CREDIT SCORE REQUIREMENTS, NO DEBT TO INCOME REQUIREMENTS
ITS HERE NOW !! Changing perspective on Reverse Mortgage the NEW HOME EQUITY CONVERSION MORTGAGE
A reverse mortgage is a type of home equity loan for seniors that allows homeowners to borrow against the equity in their home without having to make monthly payments. The loan does not need to be repaid until the homeowner passes away or no longer lives in the home as their primary residence. Reverse mortgages allow seniors to unlock the equity in their home and use it to supplement their retirement income without having to sell their home or take on traditional debt. They differ from traditional mortgages in that no monthly payments are required and the loan does not become due until a future date.
The document discusses how reverse mortgages allow homeowners aged 62 and older to access equity in their homes as cash without requiring monthly mortgage payments. It notes that many seniors rely on home equity for over half their net worth and use reverse mortgages to fund living expenses and retirement. While some misconceptions about reverse mortgages exist, over 95% of clients surveyed were satisfied, as reverse mortgages provide extra cash and payment of existing mortgages. The document encourages homeowners to learn more about how a reverse mortgage could help them enjoy retirement.
Serviced Apartment Ho Chi Minh For RentalGVRenting
GVRenting is the leading rental real estate company in Vietnam. We help you to find a serviced apartment for rent in Ho Chi Minh & Saigon. Discover our broad range of rental properties in Vietnam.
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AVRUPA KONUTLARI ESENTEPE - ENGLISH - Listing TurkeyListing Turkey
Looking for a new home in Istanbul? Look no further than Avrupa Konutlari Esentepe! Our beautifully designed homes provide the perfect blend of luxury and comfort, making them the perfect choice for anyone looking for a high-quality home in the city.
With a wide range of apartment types available, from 1+1 to 4+1, we have something to suit every need and budget. Each apartment is designed with attention to detail and features spacious and bright living areas, making them the perfect place to relax and unwind after a long day.
One of the things that sets Avrupa Konutlari Esentepe apart from other developments is our focus on creating a community that is both comfortable and convenient. Our homes are surrounded by lush green spaces, perfect for enjoying a peaceful stroll or having a picnic with friends and family. Additionally, our complex includes a variety of social and recreational amenities, such as swimming pools, sports fields, and playgrounds, making it easy for residents to stay active and socialize with their neighbors.
https://listingturkey.com/property/avrupa-konutlari-esentepe/
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
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With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
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Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...knox groups real estate
welcome to knox groups real estate company in Bangalore. best farm land for sale near Bangalore and madhugiri . Managed farmland near Kanakapura and Chickkabalapur get know more details about the projects .Knox groups is a leading real estate company dedicated to helping individuals and businesses navigate the dynamic real estate market. With our extensive knowledge, experience, and commitment to excellence, we deliver exceptional results for our clients. Discover the perfect foundation for your agricultural aspirations with KNOX Groups' prime farm lands. These aren't just plots; they're the fertile grounds where vibrant crops flourish, livestock thrives, and unique agricultural ventures come to life. At KNOX, we go beyond selling land we curate sustainable ecosystems, ensuring that your journey toward agricultural success is seamless and prosperous.
BEST FARMLAND FOR SALE | FARM PLOTS NEAR BANGALORE | KANAKAPURA | CHICKKABALP...
Serving Up Knowledge
1. UNLOCKING A COMMONLY
MISUNDERSTOOD AND UNDERUTILIZED
ASSET
SERVING UP KNOWLEDGE
Cástulo Romero
Reverse Mortgage Area Manager
NMLS# 582981
Office: (800)951-2087
Mobile: (818)300-5125
cromero@onetrusthomeloans.com
2. Overview
• Meet the Presenter
• My Story
• A Definition
• My Hypothesis
• Quantify X
• Elements of X
• Making Great X
• Comparing X to Y
• History of X
• Trends in X
• Key Takeaways
• Tips for X
• Call to Action
AGENDA
♦ Current Events & Impact
♦ RETIREMENT CONCERNS
♦ Home Equity as Liquidity
♦ Strategic Uses of HECM
♦ Schedule a free personal
consultation
2
3. WORLD EVENTS & IMPACT
3
INCREASE ON COST OF GOODS (CNN BUSINESS)
12%
Eggs, affected by the deadly avian flu, 49.1% more
expensive
Flour prices jumped 24.9%, bread went up 15.7%, milk was
14.7% more expensive and coffee prices rose 14.6%.
Chicken was up 12% and fruits and vegetables spiked 9.7%.
2009 2019 MTD
Eggs $1.71 dozen $1.41 dozen $7 dozen
Bacon $3.45 pound $5.51 pound $7.61 pound
Bread $1.37 pound $1.37 pound $2.70 pound
Milk $3.03 gallon $3.19 gallon $4.76 gallon
Coffee $3.67 pound $4.20 pound $8.00 pound
Chicke
n
$1.26 pound $1.43 pound $4.31 pound
Gas $2.35 gallon $4.11 gallon $4.02 gallon
4. RETIREMENT CONCERNS
4
Longevity
Ensuring families don’t
run out of money
Lifestyle Liquidity
Access to liquid assets
in the event of an
unforeseen events
Legacy
Leaving something
for individuals and
causes that matter
Additional cash flow to
enjoy the most
meaningful time of life
5. WAYS TO ACCESS HOME EQUITY
Cash Out Refinance
Home Equity Line of Credit
Reverse Mortgage
Sell your home
5
The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower
must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid. This is not tax advice. Consult a tax professional. These materials are not from
HUD or FHA and were not approved by HUD or a government agency. This is an Advertisement. All products are not available in all states. All options are not available on all programs. All programs
are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice. For more information on Reverse Mortgages, visit:
https://onetrusthomeloans.com/reverse-mortgage-disclosures/
6. Internal use only, confidential & proprietary. 6
HOME EQUITY CONVERSION MORTGAGE (HECM)
6
FHA insured non-recourse loan on a primary
residence for borrowers age 62 or above
(Non-FHA available at age 55+in some states)
Loan becomes due when last borrower passes
or is out of the home for 12 consecutive months.
Loan proceeds are not taxable and
available line of credit can grow over time
Homeowner continues to occupy the home as
primary residence and remains on title as owner
Eliminate monthly payments, and access
home equity in multiple ways with payments
made to you (monthly, lump-sub, combination)
Required to pay property taxes, HOl, and HOA
payments, and maintain property condition
6
7. REFINANCE WITH HECM TO INCREASE CASH FLOW
7
Connie Smith (Age 69)
Home Value $250,000
Mortgage Owed $52,640
Annual Income Needed $40,000
Social Security
Income
$3,000/mo.
Connie has felt the effects of high inflation over the
past year and would like some additional breathing
room in her tight cash flow.
She also realized the uncertainties today and would
feel more comfortable if she had a larger safety net.
8. REFINANCE WITH HECM TO INCREASE CASH FLOW
8
Connie Smith (Age 69)
How Connie increased her retirement security?
Refinanced her existing mortgage using a HECM
What did that do for her?
Freed up $572/mo. in required P&I mortgage payments
and
Created an initial line of credit of $30,714 that
increases…regardless of the home value
The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The
borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid. This is not tax advice. Consult a tax professional. These
materials are not from HUD or FHA and were not approved by HUD or a government agency. This is an Advertisement. All products are not available in all states. All options are not available
on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice. For more information on Reverse
Mortgages, visit: https://onetrusthomeloans.com/reverse-mortgage-disclosures/
9. HECM SOLUTIONS
9
Taylor (70) and Gia (Age 65) Roberts
Home Value $400,000
Let’s look at a few of the various
ways they could expand their
retirement strategy by integrating
the wealth in their home.
10. HECM SOLUTIONS
10
Taylor (70) and Gia (Age 65)
If Taylor and Gia had an existing Traditional mortgage, they
could refinance with the HECM, creating flexibility and
no longer have a mandatory P&I payment
When Taylor, his advisor and his OneTrust Home Loans Mortgage Professional looked into how
a HECM would work specifically, they determined that a HECM would produce approximately
$125,000 in available Line of Credit
They could delay the start of their social security payments and
maximize their lifetime wealth impact
They could start a Tenure payment – a monthly tax-free income
that will continue as long as they live in the home and pay the
property taxes, homeowner’s insurance, HOA fees (if applicable)
They could have access to an additional asset – Line of Credit -
that grows independent of the underlying home value
(must still pay Property taxes, Homeowner’s Insurance, HOA fees, maintain home)
11. Strategic Uses of a Reverse Mortgage
Asset Strategy
Help retirement
savings last longer
Mortgage Payoff
Paying off existing mortgage
(requirement of the loan)
Roth Conversion
Use LOC to reduce or cover
tax liability associated with a
conversion
Home Purchase
Purchasing a retirement home
that best fits their needs
(right size, move closer to family)
Home Repair
Funding home repairs,
modifications, or
renovations
Line of Credit
Establish a LOC for
unexpected
expenses or
opportunities
Social Security
Bridging social
security deferral gap
In-Home Care
Fund or Supplement
in-home care
Gift
Proceeds can be used for
almost any reason,
including inheritance
STRATEGIC USES OF A REVERSE MORTGAGE
FLEXIBILITY, CERTAINTY, EFFICIENCY
11
The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower
must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid. This is not tax advice. Consult a tax professional. These materials are not from
HUD or FHA and were not approved by HUD or a government agency. This is an Advertisement. All products are not available in all states. All options are not available on all programs. All programs
are subject to borrower and property qualifications. Rates, terms and conditions are subject to change without notice. For more information on Reverse Mortgages, visit:
https://onetrusthomeloans.com/reverse-mortgage-disclosures/
12. 12
FUNDAMENTALS TO UNDERSTAND
How much equity can I access?
01 Age
02 Interest Rates
03 Home Value
How can I access the equity?
01 Tenure payment
02 Term Payment
03 Revolving LOC
LOC – Line of credit
12
14. WHAT’S NEXT
14
The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard
insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid. This is not tax advice.
Consult a tax professional. These materials are not from HUD or FHA and were not approved by HUD or a government agency. This is an Advertisement. All products are
not available in all states. All options are not available on all programs. All programs are subject to borrower and property qualifications. Rates, terms and conditions are
subject to change without notice. For more information on Reverse Mortgages, visit: https://onetrusthomeloans.com/reverse-mortgage-disclosures/
Cástulo Romero
Reverse Mortgage Area Manager
NMLS# 582981
Office: (800) 951-2087
Mobile: (818) 300-5125
cromero@onetrusthomeloans.com
♦ Use Home Equity to enrich your retirement
♦ Invited to educate and help the community
on the uses of Home Equity
♦ Schedule a free 1 on 1 consultation with Jan
(local Reverse Mortgage Professional)
1. “12% increase ....” https://www.cnn.com/2022/12/13/business/grocery-prices/index.html
2. Cost of goods 2009 to 2019 - https://www.businessinsider.com/grocery-price-change-bread-bacon-cost-10-years-ago-now-2019-12#sliced-bacon-1
There are many strategic uses of a Reverse mortgage, some of which are the following:
An assets strategy - making retirement savings last longer by supplementing income from home equity vs. tapping into investments
Paying off existing mortgage and having the option of no monthly mortgage payments
Paying off medical bills, vehicle loans, credit cards or other high interest debts
Purchasing a retirement home that best fits their needs. For example, rightsizing the home, moving closer to children or grandchildren, aging parents or siblings)
Funding home repairs or renovations that are needed
Establishing a HECM line of credit for unexpected expenses
Bridging social security deferral gap
Funding or supplementing in-home care
Gift which can be used for almost any reason, but in most cases, it’s used to for gifting a living inheritance to heirs
Let’s dive in and discuss what is a Reverse Mortgage?
A Reverse mortgage is a non-recourse home loan
It allows homeowners to convert a portion of their home equity into liquidity
There are various suite of products for homeowners to do a refinance or purchase a new home.
The most populate reverse mortgage is the FHA Home Equity Conversion Mortgage also known as the HECM, which is for homeowners age 62 and older.
There is also the Proprietary Reverse which allows homeowners 55 and older to take advantage of the reverse mortgage as a retirement solution.
The reverse mortgage borrower can access this liquidity without selling the home, giving up title, or taking on a monthly mortgage payment.
The loan balance plus the accrued interest does not have to be repaid to the lender until a immaturity event occurs. We’ll discuss the maturity event in the coming slides in more detail.
Let’s dive in and discuss what is a Reverse Mortgage?
A Reverse mortgage is a non-recourse home loan
It allows homeowners to convert a portion of their home equity into liquidity
There are various suite of products for homeowners to do a refinance or purchase a new home.
The most populate reverse mortgage is the FHA Home Equity Conversion Mortgage also known as the HECM, which is for homeowners age 62 and older.
There is also the Proprietary Reverse which allows homeowners 55 and older to take advantage of the reverse mortgage as a retirement solution.
The reverse mortgage borrower can access this liquidity without selling the home, giving up title, or taking on a monthly mortgage payment.
The loan balance plus the accrued interest does not have to be repaid to the lender until a immaturity event occurs. We’ll discuss the maturity event in the coming slides in more detail.
Let’s dive in and discuss what is a Reverse Mortgage?
A Reverse mortgage is a non-recourse home loan
It allows homeowners to convert a portion of their home equity into liquidity
There are various suite of products for homeowners to do a refinance or purchase a new home.
The most populate reverse mortgage is the FHA Home Equity Conversion Mortgage also known as the HECM, which is for homeowners age 62 and older.
There is also the Proprietary Reverse which allows homeowners 55 and older to take advantage of the reverse mortgage as a retirement solution.
The reverse mortgage borrower can access this liquidity without selling the home, giving up title, or taking on a monthly mortgage payment.
The loan balance plus the accrued interest does not have to be repaid to the lender until a immaturity event occurs. We’ll discuss the maturity event in the coming slides in more detail.
Let’s dive in and discuss what is a Reverse Mortgage?
A Reverse mortgage is a non-recourse home loan
It allows homeowners to convert a portion of their home equity into liquidity
There are various suite of products for homeowners to do a refinance or purchase a new home.
The most populate reverse mortgage is the FHA Home Equity Conversion Mortgage also known as the HECM, which is for homeowners age 62 and older.
There is also the Proprietary Reverse which allows homeowners 55 and older to take advantage of the reverse mortgage as a retirement solution.
The reverse mortgage borrower can access this liquidity without selling the home, giving up title, or taking on a monthly mortgage payment.
The loan balance plus the accrued interest does not have to be repaid to the lender until a immaturity event occurs. We’ll discuss the maturity event in the coming slides in more detail.
There are many strategic uses of a Reverse mortgage, some of which are the following:
An assets strategy - making retirement savings last longer by supplementing income from home equity vs. tapping into investments
Paying off existing mortgage and having the option of no monthly mortgage payments
Paying off medical bills, vehicle loans, credit cards or other high interest debts
Purchasing a retirement home that best fits their needs. For example, rightsizing the home, moving closer to children or grandchildren, aging parents or siblings)
Funding home repairs or renovations that are needed
Establishing a HECM line of credit for unexpected expenses
Bridging social security deferral gap
Funding or supplementing in-home care
Gift which can be used for almost any reason, but in most cases, it’s used to for gifting a living inheritance to heirs