1. Welcome!
It's a pleasure to have you here!
www.ReverseFAQS.com
"All Your Reverse Mortgage Questions Answered!"

2. Who am I?
Greg Lenz
I used to be a Loan Officer with GMFS Lending based out
of Noblesville, In.
I started in the mortgage industry in 2007 with Allied
Capital in Scottsdale, Az.
I enjoy golf, reading, and the music of Francis Albert
Sinatra.

3. Enough about me!
So...what is a reverse mortgage anyway?

4. Who qualifies for a reverse?
Anyone who is:
1) 62 or older
2) Owns their own home
3) Has enough equity
4) Property meets FHA guidelines

5. How does the reverse work?
Just like a regular mortgage...except in reverse
-There is a lien against your home
-No payments = Amount owed grows over time
-You receive a portion of the built up equity in
your home

6. What are my options?
Lump Sum:
-You will receive all of the cash three days after
closing in the form of a check or wire transfer
-Fixed Rate Program
-You'll know exactly how much you owe at all
times

7. Line of Credit
1) Tenure: set amount of money each month
the rest of your life.
2) Term: set amount of money over a certain
period of time. (For example: $100/mo for 15
years)
3) Draw: you only draw money as needed.
*This is an adjustable rate program

8. Saver Program
-Can be taken as a Lump Sum or Line of Credit
-You receive less money
-You retain more equity
-Lower Fees
-Fixed and Adjustable Rate Programs Available

9. What is the process involved?
Steps
1) Counseling
2) Initial Document Signing
3) Appraisal
4) Underwriting
5) Closing

10. Frequently Asked Questions

11. Do I still own my home?
YES!

12. What if my home isn't paid off?
You can still qualify based on how much you
owe and the home's value
To find out how much you'll get check out
www.CalculateMyReverse.com

13. What happens when I pass away?
The property still goes to your heirs!
The heirs have 12 months of no payments to decide to sell
the home or they can sign the title of the property over to
the lender.
If there is still equity remaining in the property it goes to
your heirs as an inheritance.
If the outstanding balance is more than the home's worth,
your heirs AREN'T responsible for the difference.

14. Can I ever be kicked out of the
home?
NO!
BEWARE: you are responsible for paying your property
taxes. If you don't the county can foreclose on your
property!

15. What if my home needs repairs?
No problem. One of the great features of the Reverse is
that it allows for "set asides"
Set asides allow you to close your loan, but a portion of the
proceeds are held back to pay the contractor for any work
that needs to be done to the property.
Set asides can't be more than 15% of the home's value. So
on a $100,000 home it can't be more than $15,000.

16. Can I ever get out of a Reverse?
YES!
If for whatever reason you want to refinance out
of a reverse into a traditional mortgage you
absolutely can.
You can also payoff the loan without penalty if
you decide you want to.

17. What if I owe more than the home is
worth?
Not a problem!
You will never be kicked out of your home for owing more
than your home is worth.
The reverse is insured by the FHA. That insurance protects
you and your heirs from ever owing more than the value of
the home.

18. What does my interest rate mean?
Your interest rate determines how much money
is added to the balance of your loan.
For instance if your interest rate is 5% then
your loan balance would grow 5% each year.

19. How much will it cost me?
There are certain costs associated with a reverse
mortgage.
1) Counseling Session: out of pocket or billed to closing
2) Appraisal: out of pocket or billed to closing
3) Origination Fee: included in the loan. Not out of pocket
4) Mortgage Insurance: included in the loan. Not out of
pocket.
5) Title Insurance: included in the loan. Not out of pocket.

20. What types of homes qualify?
-Single Family Homes
-FHA Approved Condominiums and
Townhomes
-Multifamily properties (2-4 units)
*All properties must be the borrower's primary
residence

21. Reverse Mortgage Secrets
-Using a Reverse as a Traditional Mortgage
-Self-Employed Reverse Mortgage
-The Reverse Purchase
-Bankruptcy and Foreclosure

22. Reverse Mortgage Case Studies

23. John and Mary Fuller
-63 years old
-5 years from retirement
-Owe $80,000
-Home is worth $100,000
-Payment is $700 per month
-20 years remaining on their mortgage
Should they spend $15,000 to get a Reverse?

24. Ruby Silver
-71 Years Old
-Home is paid off
-Receives $900 per month from Social Security
-Receives $350 from deceased husband's
pension
-Home is worth $75,000
Should Ruby get a Reverse Mortgage?

25. To download a Free Reverse
Mortgage Guide and Save $3000+ in
fees check out
www.ReverseMortgageEbook.com/free-offer/