The Reverse Mortgage

According to multiple sources and research shows that there are 10,000 a day reaching retirement age. Our generation is the least prepared financially for retirement.  We are more active, living longer, spend more and save less. 

We at AdvisorMortgage believe that  the Reverse Mortgage is the best option for those of us who own a home and need a financial backstop that a Reverse Mortgage provides.
The traditional mortgage may not economically help us in our senior years.

Reverse Mortgage Basics

What is a Reverse Mortgage

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

Mortgage Payments

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

Equity or Cash. Which is better?

A Reverse Mortgage creates liquidity for an otherwise illiquid asset.   

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

Net Worth

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.

Reverse Mortgage Uses

 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