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- 1. Put your home to work for you DAN BATTE Home Mortgage Consultant Reverse Mortgage Specialist
Hinweis der Redaktion
- Screen One Talking Points A Reverse Mortgage can optimize cash flow and promote peace of mind. It can contribute to a more contented and secure retirement. Use the money to supplement your pension or social security income, for home repairs, buying a car, unexpected expenses, even put it toward a new home – whatever you choose.
- Screen Six Talking Points Reverse Mortgages are specifically designed for, and exclusively available to, older homeowners who have substantial home equity. Applicants must agree to receive (face-to-face or telephone) mortgage counseling from a HUD-approved counseling agency to explain your options and confirm your eligibility. Explain HUD – Housing and Urban Development
- So, based on the HUD formula and assuming you have no liens on the home, the older you are, the more your home is worth, and the lower the interest rate, the more you’ll be able to borrow – up to the national lending limit. I can run a personal calculation for you with your specific information
- Screen Ten Talking Points You will be responsible for maintaining the property and making necessary home repairs, as well as paying property taxes and homeowners insurance premiums. Any home sale proceeds in excess of the amount you owe belong to you or to your estate.
- Screen Eleven Talking Points I’ll be happy to meet with you privately to answer your questions and help you choose the best financing solution to achieve your dream. Your HUD-approved counselor will further explain available options and confirm your reverse mortgage eligibility.
- Screen Eleven Talking Points A Reverse Mortgage can never cause you to lose your home – even if the total of the payments made to you plus interest and mortgage insurance premiums exceed the value of the property, or if the set term over which you received your payments has expired.
- Screen Thirteen Talking Points There are no restrictions on how you may use proceeds received through a reverse mortgage. You can direct the funds toward a variety of purposes, including: • Reducing high-interest debt • Supplementing retirement income • Remodeling or repairing your home • Paying property taxes • Covering healthcare expenses • Planning for long-term care needs • Growing your investment portfolio You can even use your reverse mortgage funds to purchase a new primary residence .
- Screen Fourteen Talking Points Under some programs, monthly Reverse Mortgage advances may affect your eligibility, because they increase your liquid assets if you do not spend them within the month they are received. You should consult local program offices to determine how monthly mortgage payments might affect your specific situation.
- Screen Fifteen Talking Points Just as with a traditional mortgage, you can sell your home at any time and pay off your reverse mortgage. Any home sale proceeds in excess of the amount you owe your mortgage lender belong to you.
- Exit Screen Talking Points Leave this screen up as you take questions and wrap up your presentation.