TECHNOLOGY DRIVEN

What is a Smart Reverse?

A Smart Reverse is the first FHA HECM reverse mortgage loan enhanced by technology. With Smart Reverse your clients are in control, they can access their funds easily through an online portal that is created for them after the loan is closed.  

How does a Smart Reverse Work?

When borrowers sign up for a Smart Reverse loan, management tools will be available through the Smart Reverse web page & mobile application, providing active management of the loan post origination. 

A smart reverse allows your clients to.......

MANAGE FUNDS

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REQUEST FUNDS

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ENJOY LIFE

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 A smart reverse gives your clients access to cutting edge technology for convenience & control over loan terms, conditions, disbursements, etc.  

Click here to learn more about Smart Reverse

REVERSE MORTGAGE BASICS

What is a reverse mortgage?

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 Home Equity Conversion Mortgage  is a non-recourse loan.  Only the home equity is responsible to pay off the mortgage--- not your clients, not their heirs, not their trust, not their estate or any of their other assets. Once the borrower is no longer living in the property, there is 12 months to make the decision. 

What can a reverse mortgage be used for?

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1. Lump Sum Payment

2. Reverse Mortgage Purchase

3. Reverse Mortgage Line of Credit

4. Monthly Payments

5. Combination of Lump Sum payment + Line of Credit + Monthly Payments

Equity or cash. Which is better?

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A Reverse Mortgage could create liquidity for an otherwise illiquid asset.   

What is more valued, equity or cash? Cash is the most important ingredient for retirement.

Net worth

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For a typical person, their home equity can be valued at 30%-50% of our net worth.    

Clients must be able to understand the fundamental difference between their homes, the most intimate object of their financial lives, and the equity in their home.

Payments

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Payments during borrower's  lifetime, while  living, are optional. * 33% of people over 62 years old are making mortgage payments when they may not need to!  


* Must maintain home as primary residence, and keep property taxes, homeowners insurance and HOA dues current

 

  At AdvisorMortgage we believe that the Reverse Mortgage is the best option for clients who own a home and need the financial backstop that a Reverse Mortgage provides

EDUCATION

Home Equity Conversion Mortgage (HECM) Introduction 

The Reverse Loan Process

Reverse Items Needed

Talking to Children About Reverse Mortgages

Reverse Mortgage Tenure Payments 

Reverse Mortgage Term Payments