2. • Federally insured mortgage, convert
home equity into cash!
• You do NOT give up title to the home!
A Reverse Mortgage is…
3. • No monthly payments as long as you
live in the home!
• Youngest person on title must be 62
years or older.
4. • No Income or Credit Requirements.
• Borrower must maintain the home,
pay the taxes and pay the homeowner
insurance.
5. • Closing Costs.
• FHA Insured
• 3rd
party Counseling by HUD approved
counselors.
6. • Borrower does not pay taxes on
money they receive
• Borrower does not deduct interest
from their taxes
7. What types of payment plans are
available?
There are five different payment plans
Line of Credit: Borrower draws cash (up to
maximum benefit) in the amounts of their
choosing.
Tenure: Borrower receives equal monthly
payments for as long as home is occupied as
their principle residence.
Term: Borrower receives equal payments for
the fixed period of time that they select.
11. Boomers & Seniors!
• 1 Baby Boomer turns 50 every 10
seconds!
• That’s 12,000 each day!
• That’s 4,ooo,ooo each year…for a
decade!
12. Boomers & Seniors!
• By 2030 the 60 & over market will grow by
81%
• Ages 18 – 59 will only grow by 7%
• Projected population of people 60 and older
in 2030 is 73,000,000!
• Projected to be 21% of the population!
13. Be the trusted Associate with
the best solutions, who cares
about their clients and their
families!
17. Example!
Cash Buyer
• Net from sale of current home = $350,000
• Cash to Close on new home = $300,000
• Borrower lives on $ 50,000
18. Example!
Reverse Mortgage for Purchase!
• Purchase Price on New Home = $300,000
• Proceeds from Reverse Mortgage = $180,000
• Cash to Close on new Purchase = $120,000
19. Cash in Hand!
• Net from Sale of current home = $350,000
• Cash to Close on new home = $120,000
• Borrower keeps Cash to live on = $230,000
20. Listings!
• Many consumers who inquire about a
Reverse Mortgage do not take one!
• As Borrowers move or pass away, those
families call you to list the home or
refinance!
21. Example:
• 15% were turned into Applications
• 25% are likely to sell their home, due to
financial stress
• 60% will neither sell or apply for a Reverse
Mortgage….YET!
22. A few scenarios!
Give Sellers funds to renovate or upgrade
curb appeal for the sale of their home!
Funds to relocate while you market the
home!
Down Payment assistance to your First
Time Homebuyers!
23. Refinances!
• Many of these Consumers just need a Home
Equity Line or a Cash Out Refi.
• Transfer Title to parents-save family home with
Quit Claim Deed!
• Save Tax Sales and Foreclosures.
24. I know someone who may need to learn
about Reverse Mortgages, who do I contact?
Contact your Office GSM!!
Editor's Notes
Be the trusted Associate that knows the best solutions for their client and their families!
Give Sellers funds they need to renovate home for sale