By Dallas Riddick
Are you familiar with Reverse Mortgages? Many Americans are at least aware of them. But recent changes and new program guidelines make The New Reverse Mortgage worth reconsidering as part of a broader financial retirement plan.
So, Whats New?
For starters its safer for you the consumer.
New loan limitations help preserve your home equity funds for a longer period of time. Mandatory mortgage insurance also provides additional protection.
Rates and fees are lower than you might expect.*
Many lenders now offer a low fee and interest rate option, which may make todays reverse mortgage compare favorably with a traditional home equity line of credit (HELOC) or home equity loan alternative.**
Financial Advisers are getting on board now that they have discovered new ways of using a reverse mortgage line of credit.
With new options that reduce up-front costs and the growth feature of the reverse mortgage line of credit option, the new reverse mortgage can be used in innovative ways as part of a broader long-term retirement funding strategy.
It may provide more control, peace of mind and security than a traditional home equity line of credit.
We have all heard of banks contacting their customers and freezing home equity lines of credit when the housing market is in a slump, or worse asking the client to pay down the line. With the reverse mortgage line of credit option that cant happen as long as you remain living in your home as a primary residence and keep current on other obligations such as taxes and insurance.
It can help your savings and investments last longer.
Preserve investment accounts during market downturns with a standbyline of credit. Or, in case of an unplanned emergency, use a line of credit to build a safety net for home repairs and health care expenses.
Life today requires a modern retirement plan.
Combining your savings and social security with a reverse mortgage might be the retirement plan you need.
The New Reverse Mortgage is the Safer and Smarter way to improve cash flow, maintain ownership of your home and gain the true financial flexibility you deserve.
The many ways people are using Reverse Mortgages for a better and more secure retirement.
Its a Smart Financial Choice!!
For more information visit TheReverseMortgageBankers.com
* Rates and fees vary by lender ** Source: www.mybanktracker.com/heloc