Library - Reverse Mortgages

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Unlocking the Complexities of Reverse Mortgages

The Choices for Reverse Mortgages are NOT Obvious. It might be obvious that a reverse mortgage operates exactly opposite of a traditional mortgage. What is not so obvious, but should be, is that the best features of a reverse mortgage are also the opposite of a traditional mortgage.

 

What does this mean?

It means that the particulars one is looking for in a reverse mortgage are not the same things they look for in traditional mortgage. This ebook will show why reverse mortgages have to be interpreted completely differently than traditional mortgages.

Unfortunately, most loan professionals have not recognized this and are selling these products, to the detriments of their clients, incorrectly. The program a senior takes is determined primarily by 3 things:

  1. Is the reverse mortgage temporary (less than 5 years) or life long?
  2. What are their immediate cash needs and monthly income needs?
  3. Which program maximizes my benefits? In other words, which Reverse Mortgage product allows me to access the most equity in my property.

This is the primary goal and if your lender stresses some other factor over equity access, you are working with the wrong lender and I will show you why.

 

Author: Ralph J. Migliozzi