How can I use the funds from my
*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.
· 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. Is at Least one of the 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) Other solution: _________________________________________________________________
(**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.