A Reverse Mortgage Loan May Be the Right Move
As a financial professional, being well-versed in Home Equity Conversion Mortgage (HECM) loans, commonly known as reverse mortgages, is crucial for providing comprehensive financial planning for senior clientele. HECMs eliminate obligatory monthly mortgage payments. Instead, borrowers must pay property expenses such as taxes, insurance and home maintenance.
This can greatly increase cash flow for those who still owe money on their forward mortgage. For those with paid off mortgages, the potential payouts are simply greater.
And for all HECM borrowers, a portion of their home equity is converted into cash that can be used for virtually any purpose.
As that cash is viewed as a loan and not income, it is tax free.*
This financial liquidity can be used for strategic financial plans, paying off high-interest debts, covering medical expenses, protecting other retirement assets, and increasing assets under management.
See How You Can Use HECMs to
Mitigate Retirement Planning Risks
I’m Here to Help You Help Your Clients
With almost 30 years of experience in the mortgage industry, I have gained specializations in a variety of loan products, with Reverse Mortgages being a personal favorite due to the many benefits they offer to seniors.
I have helped countless professionals assist their own senior clients with reverse mortgage loans, and I am more than happy to help you, too. Please reach out to get more information, ask questions, or to get started with a particular client.
Let’s Get Moving
Whether your clients would like better cash flow, want to move closer to family, or have other needs or goals, I’m here to help.
*Consult a tax professional