If you are considering a reverse mortgage, then you need to find out as much about it as possible before you make the wrong decision. There is a lot to reverse mortgage and it is important that you understand it before you sign any contracts. This is the first book of its kind to illustrate, in picture format, the exciting financial opportunities waiting for eligible seniors. This book, Piggy Bank Your Home: Tap Into the Power of a Reverse Mortgage, has taken the complicated subject of reverse mortgages and has made it easy to understand.

Perfect for professionals to give to their clients. Many professionals from around the country are calling this book “innovative” and “a must read”. John E. Lucas, co-author of Reverse Mortgages for Dummies, says, “This book is a great tool. It makes a complex program easy to understand!”

From the Back Cover

Live on your equity—without selling or refinancing your home!

Many seniors have trouble making ends meet after retirement. Often their homes are their most valuable assets, but they can’t access the equity they’ve accrued unless they sell. If you find yourself in this position, you might face the dilemma of having to sell your home. Thankfully, the reverse mortgage offers seniors the option of remaining in their homes with no mortgage payments.

Reverse mortgages permit seniors to convert part of their home equity into tax-free income—even if they’re still paying on the mortgage. Designed specifically for seniors, these specialized loans let you tap into your equity and use the money for any purpose. Safe and legal, these loans can never cost more than the value of the home, and the loan doesn’t have to be repaid until you, or an heir, sell the home.

This straightforward, simple guide helps seniors and their loved ones understand every aspect of the reverse mortgage, including:

• Tax ramifications of reverse mortgages
• Fees and costs associated with reverse mortgages
• Great things you can do with your reverse mortgage payout
• Calculating a reverse mortgage based on the owner’s age, and the home’s location and value
• How to structure your payout as a lump sum, monthly payments, or credit
• How much you can borrow and at what rate

“As our population ages, it is critical that senior citizens are made aware of the various options available to them that will enable them to lead more fulfilling, comfortable lives. In this book, Tom Kelly clearly and concisely explains the inner workings of reverse mortgages—a viable financial option for senior homeowners.”
—Sarah Hulbert, National Director, Reverse Mortgage of America

“Tom Kelly breaks down a misunderstood, complex topic into a very readable, valuable work for seniors and adult children. This book not only provides one of the key tools to aging in place, but it also clearly and accurately explains the next big financial vehicle in the United States.”
—Dr. Richard Garrigan, author and Emeritus Professor of Finance, DePaul University

• What are they?
• How do they work?
• What do they do?

There are more than 100,000 active reverse mortgages in the U.S. today, and the number is growing. If Social Security benefits are excluded, about half of all senior citizens would fall below the poverty line based on their income, and for many people over 65, much of their wealth is concentrated in their home equity. As health care costs rise, many people are turning to reverse mortgages for supplemental income. This book outlines, informs, counsels, and lays out the facts on reverse mortgages.

-Anticipation of Social Security problems is increasing the popularity of reverse mortgages

-More people are expected to turn to reverse mortgages to supplement their income

-The Consumers Union of U.S. Inc. says that AARP, HUD, Fannie Mae, and the reverse mortgage industry all agree on the importance of high-quality reverse mortgage counseling and information

About the Author

Jennifer Pokorny is a branch manager with Carteret Mortgage, specializing in reverse mortgages. She has 25 years experience in all facets of the industry, working with property management before becoming project engineer for a commercial construction company. She has also worked as a freelance writer and editor for 10 years.

• sell it or
• borrow against it and make monthly loan repayments.

Reverse mortgages offer a third way of getting money from your home which is why we would like to discuss it further so that everyone will understand how reverse mortgages work and how it can be used. If you are a homeowner, age 62 and older, you are eligible to apply for a reverse mortgage loan that converts your home equity into a tax-free income. With The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!, you’ll learn all you need to know to earn the supplemental income you need, without worrying about:

• Having to sell your home
• Give up your title
• Or take on a new monthly mortgage payment.

This invaluable guide explains everything you need to know about reverse mortgages and how to use them to your advantage. With practicing attorneys Tyler Kraemer and Tammy Kraemer leading the way, you will learn the step-by-step process to getting a reverse mortgage and making the best of your retirement!

About the Author
Tammy Kraemer has been an attorney practicing business, real estate, and intellectual property law for almost ten years. She is currently in private practice. She worked in general counsel for a mid-size software company with worldwide offices. She also worked at a large regional law firm in their corporate law and securities department. She has written and edited numerous articles for newsletters and law journals. She lives in Colorado with her husband Tyler and their two children.

Tyler Kraemer has been an attorney in private practice focusing on estate planning, real estate, finance, and business law for almost ten years. His clients include lenders, borrowers, mortgage brokers, real estate brokers, real estate buyers and sellers, and business owners. Tyler has been a part of outside general counsel for the REALTOR® trade association and the for-profit multiple listing service, which included giving daily advice on homeowner issues. He has participated in National Association of REALTOR conferences and workshops dealing with all facets of homeowner issues. He lives in Colorado with his wife Tammy and their two children.

The Reverse Mortgage Advantage: The Tax-Free, House Rich Way to Retire Wealthy!

“Virtually all the key aspects of senior-citizen reverse mortgages are thoroughly explained in this detailed but easy-to-read book that emphasizes the potential pitfalls as well as the major benefits. The author shatters the reverse-mortgage myths, such as ‘the bank owns the house,’ the supposed high costs, and even the scary stories of early reverse mortgages, which are no longer possible.”

Description

Financial Freedom You Can Only Get When You Hit 62!

Whether you’re exploring a reverse mortgage to finance a home improvement, pay off a current mortgage, pay for health care expenses, or generate monthly income to improve quality of living, you’re one of the thousands of Americans age 62 and older who are turning to this lucrative way to build income.

Simply put, with reverse mortgages you no longer pay the bank, the bank pays you. In The Reverse Mortgage Advantage, renowned real estate expert Warren Boroson presents a thorough examination of the ins and outs of this intriguing investment method. Boroson dispels any myths and puts crystal-clear focus on the pros and cons of reverse mortgages.

With real-life case studies and practical examples, The Reverse Mortgage Advantage shows you how to:

• Transform a “house-rich, cash-poor” situation into tax-free equity
• Choose between a lump sum, a line of credit, a monthly income, or a combination
• Find a reputable HUD-approved reverse mortgage counselor in your area
• Minimize setup fees and related charges

We briefly talked about reverse mortgage and its benefit in our other posts but some people are still confused about what a reverse mortgage is so I am going to introduce this book called Reverse Mortgages For Dummies that explains a lot of things about reverse mortgages in the simplest terms possible. Bear in mind that there are advantages as well as disadvantages of reverse mortgage so you really need to find out more information on reverse mortgage before you decide to do it for yourself or your family.

For seniors who live on a fixed income, owning a home—and keeping it—can be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anything—even mortgage payments, living expenses, or medical costs.

Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll discover how to:

• Decide if a reverse mortgage is right for you
• Shop for the best reverse mortgage products
• Find out if your home is eligible
• Find a counselor who can help you

Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loans—and what you could do with your reverse mortgage—the book covers the specifics you need to find the right loan for you, including:

• Special advice for adult children helping their senior parents secure a loan
• How to get a reverse mortgage and keep your second home legally
• Property requirements and financing fees
• Selecting among a multitude of lenders
• Spending and estimating leftover equity
• Sharing the decision-making process with family and loved ones

If you’re a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.
From the Back Cover

Fully explains how reverse mortgages work

With special advice for the adult children of seniors

Reverse mortgages are a great way for you to keep your home, even on a retiree’s fixed income. But with so many loan options, where do you start? Relax! This friendly guide covers all the basics so you and your adult children can understand and take advantage of these handy loans — and keep the home you love.

Discover how to

• Decide if a reverse mortgage is right for you
• Shop for the best reverse mortgage products
• Find out if your home is eligible
• Walk through each step of the process with confidence
• Find a counselor who can help you

Recent estimates have shown that there are more than 100,000 active reverse mortgages in the United States, and that number is on the rise. However, many people simply do not understand what a reverse mortgage is or how it works. This book called Reverse Mortgage Book: Everything You Need to Know Explained Simply will explain to you everything you need to know before you get a reverse mortgage. This is a very comprehensive book that will provide you with more information than you need. There are a lot of valuable resources in the book.

Why is reverse mortgage so attractive?

Reverse mortgages allow people over the age of 62 to release the equity in their property and defer payments until the homeowner dies.

As these mortgages become more and more popular, it is becoming increasingly important for senior citizens to understand the process and the features of this unique loan.

The Reverse Mortgage Book does just that, explaining everything you need to know in easy to understand terms. In this new book, you will learn about the details of:

• new legislation,
• payment plan options,
• tools that will help you calculate loan advances,
• financing fees,
• what to do with leftover equity,
• borrower qualifications,
• common mistakes people make,
• resources for securing reverse mortgages, and
• planning strategies.

• the Home Equity Conversion Mortgage,
• the Financial Freedom Cash Account, and
• the CHIP Reverse Mortgage for Seniors, and

• how to convert equity into tax-free income,
• how to determine how much money you can get,
• how to determine if your home qualifies,
• how to shop for the best products,
• how to find a counselor,
• how reverse mortgages differ from other loans, and
• how to minimize setup fees.

• Is it possible for me to lose my home?
• What effect does my age have?
• What effect will my needs for long-term care have?

By reading this book, you will completely understand everything there is to know about reverse mortgages, enabling you to make wise decisions and maintain your financial independence.