|
While a home may hold a great amount of sentimental value for a family, the reality
is that in most cases, the property is sold after the owner’s death. At a time when
they should be simply allowed to grieve, the heirs are often forced to:
- Sell
the property quickly
- Deal
with real estate’s current market condition
- Deal
with additional inheritance taxes from the sale
One way to avoid these issues is to use a portion of the proceeds of a Reverse Mortgage
to purchase life insurance. Upon death of the senior homeowner, that policy can
be used to retire the Reverse Mortgage debt and return the home free and clear back
to the family members. The end result with a Reverse Mortgage in place could be:
- A debt
free = hassle free transfer of the asset,
- Not forced
to sell
- No other
additional taxes to pay
Do you hear your clients say “…but I Don't Need the Money!”?
Most times seniors don’t plan sufficiently, and in case they have not, a Reverse
Mortgage is always something upon which they can rely. Current market conditions
make this an opportune time to get a Reverse Mortgage with high lending limits and
low interest rates.
As an estate planning tool, a Reverse Mortgage is the smartest way to leverage assets
in retirement.
Reverse Mortgage Potential Impact:
|
|
Common Misconceptions:
“I'm giving my home away to the Bank”.
Homeowner retains ownership; a Reverse Mortgage is a loan.
“I can be thrown out of my home”.
Homeowner may stay in their home until a loan maturity event occurs.
“I can owe more than my house is worth”.
Homeowner can never owe more than the home value.
“My heirs will be against it.”
Experience demonstrates heirs are in favor of Reverse Mortgages.
It's time you got a NO OBLIGATION REVERSE MORTGAGE EDUCATION
from a caring partner.
|
|