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Reverse Mortgage Maximization
Have your home's appreciation grow twice as fast.
For Seniors over the age of 62 a Reverse Mortgage is a tool
that, while new to many, is increasingly being used to maximize
their retirement income. A Reverse Mortgage frees up large
amounts of equity to be used in investment vehicles, insurance
policies, and savings plans that add to the safety and enjoyment
of many seniors' lives.
When a Reverse Mortgage is employed, it allows you to keep
earning appreciation on the home, while also earning growth on
the equity. Equity normally has no growth. Example: Two people A
and B buy the same home for $200,000. Person A puts a down
payment for $200,000 while Person B puts down $10,000 and invests
the difference. In 5 years both homes are worth $250,000. Person
A's equity experienced no growth while Person B invested the
$190,000 not locked in the home and enjoyed 2 times the growth of
Person A.
Reverse Mortgages are a very safe way for seniors to release
the equity trapped in their homes. A Reverse Mortgage is a
Federally regulated and insured loan that uses home value and age
as a calculator to extract a portion of the equity that Seniors
have built in their homes. A good way to estimate the amount that
can be received is to subtract the amount of purchase price and
current mortgage from the estimated sale value. This is the
equity that can be reasonably expected to be obtained with a
Reverse Mortgage. Reverse Mortgage
Nation provides a free online calculator.
The differences between a Reverse Mortgage and a standard
equity loan are that the Reverse Mortgage NEVER requires the
Senior to make a monthly payment. For as long as the applicant
lives in the home, there are no payments required. All of the
money that is generated with a Reverse Mortgage is 100% tax-free
and will not affect any social security or Medicare benefits.
One generally overlook strategy in doing a Reverse Mortgage is
managing the interest growth. The home is the only tax-beneficial
financial investments in existence. If you earn a large return on
a bond or in the stock market, you will experience taxes based on
the size of your return. With a Reverse Mortgage, you pay zero
tax for any money generated, and because Reverse Mortgages have
no-prepayment-penalty, you can receive these funds tax-free, pay
off the accrued interest for the year, then take additional
tax-deductions on the interest that is accruing. All this with no
risk of default or foreclosure because there are never any
payments required.
Troy Shellhammer is a Reverse Mortgage Loan Officer with
Reverse Mortgage Nation (NGFS, a division of 1st Mariner Bank).
He can provide illustrations and examples of these strategies for
yourself, a friend, a client, or an elder parent.
Contact details:
troyshellhammer@reversemortgagenation.com
1.888.973.8377
http://www.reversemortgagenation.com
 MORE RESOURCES updated Thu. February / 09 / 2012
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Maximization
Have your home's appreciation grow twice as fast. For
Seniors over the age of 62 a Reverse Mortgage is a tool
that, while new to many, is increasingly being used to
maximize their retirement income.
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