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!"

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.

You will also learn about the types of reverse mortgages, including:

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

the different ways to receive payments, such as tenure, term, line of credit, modified tenure, and modified terms.

In addition, you will learn about the steps involved in a reverse mortgage, from the application to processing, from underwriting to closing.

This book also goes into detail about:

• 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.

This book will provide you with the answers to commonly asked questions, such as:

• 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.