Reverse Mortgages are perfect for seniors who are downsizing homes.

Reverse Mortgages are perfect for seniors who are downsizing homes.

Are you relocating to a southern state for better weather? Are you moving into a smaller home or condo for retirement?

Any good financial consultant will tell you that putting cash into non-interest bearing accounts is not a smart move. Then why are you putting cash into a home that you plan on staying in for a long time, without your money earing any interest?

REMEMBER: A reverse mortgage does not keep you from earning money on the growth of the value of the home. A reverse mortgage is the lowest interest rate loan in the mortgage market, PLUS, you do not have to make any payments. When the home grows in value, your net worth grows right along with it. When the home is sold by you, or your estate, the reverse mortgage is paid off and the remaining equity is paid to you in cash.

You have probably seen how little of your mortgage payment went to pay off principle on your home. With a reverse mortgage the loan amount increases by interest only. Right now the interest rate is 2.85%. The federally insured credit account pays 1/2% more in interest than the rate of the loan, and it compounds daily. If you have a trusted financial counselor, you can consult them on how much you can make on the money you put in savings rather than paying for a home.

Reverse mortgages are a government entitlement for senior citizens. The only ones who lose are the ones who believe that all reverse mortgages are bad and they want nothing to do with them. Reverse mortgages are NOT only for folks who need cash to live. They are a great tool for ever senior citizen.

Bob
bob@az62.com
www.az62.com
623-214-6663