How can I use the funds from my

FHA Insured Reverse Mortgage?

 

Some Common Uses*:

· Supplement your monthly income.

· Pay off mortgages and other debts.

· Pay taxes and Insurance.

· Hire Domestic help.

· Buy/Repair car.

· Eliminate monthly payments.

· Home improvement.

· Travel.

· Pay living and health care expenses.

· Help with grandchildren's education.

· Share inheritance in life, watch them enjoy it.

· or any way you like.

 

Wise Tactical Borrowing for Estate & Retirement Planning*:

· Wealth preservation.

· Reduce taxable estate.

· Avoid liquidating other investments or assets and paying Capital Gains Tax..

· Charitable gifts.

· Purchase Single Premium Life Insurance.

· Purchase Single Premium Long Term Care Insurance

· Trust & Venture funding.

· Buy a second home or investment property.

· Investments. • etc...

 *Consult you tax, financial and/or legal advisor.

Am I / Are we Candidate(s) for a “Reverse Equity Mortgage”?

Please check what best fits your personal situation:

 

1.       Are all Owners on Title 62 years of age or older?  □ Yes   □ No   Will be 62 soon? □ Yes   □ No     

_____________ Date of birth: ____/____/____    _____________ Date of birth: ____/____/____

          2.       Do I / we live in a  single family residence, Condominium, □ Multi-Family (1-4 units),   □  “PUD” 
                  Planned Unit Development, anywhere in Florida?  (Trailers and some manufactured homes may not
                   qualify)

3.       Am I (Are we) planning to live in this home five years or more? □ Yes   □ No   

4.       Is my home free and clear of any mortgage debt?  □ Yes   □ No   
 Mortgage bal.: $___________    
Monthly Payment:$_______

5.       Do all Senior Owners live in the home as their principal residence?  □ Yes   □ No

6.       Would I like to not have to make any monthly Principal & Interest mortgage payments as long as I/we live in this home?  □ Yes   □ No

7.       I estimate my home’s present market value at: $___________________

8.       Would I like to improve my financial quality of life? □ Yes   □ No

9.       Would I like to receive, tax-free, a monthly income as long as I live in this home? □ Yes   □ No

10.   Would I like to receive, tax-free, a lump sum of cash or a “Creditline” to cover expenses?           □ Yes   □ No

11.   Would I like to reduce my Taxable Estate and improve my financial planning?   □ Yes   □ No

12.   Is my home in Foreclosure**?  □ No   □ Yes (could probably pay off current 
 mortgage
)     
                

13.   Am I in  Bankruptcy?**:   □ No      □ Yes:   Chapter 13  □ Chapter 7 (call right now, you could probably get a discharge)                        

14.   My other alternatives: a) Sell my home! □ Yes:    Real Estate Commission (6%): $________

                  Move where?: ______________  □ No 

            b) continue living in my home with  present income.   □ Yes   □ No   
           
c) ______________

  (**consult your attorney)

If you have answered Yes to questions #1 thru #4 and to others, you could be a Candidate, call me today.  If you have a relative or friend that could benefit from a REM, please ask them to call me. 

    

Request Funds Estimate From a Reverse Mortgage

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