Prevent Foreclosures

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

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.