Reverse Mortgage
The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!
by Tyler Kraemer

This book was so helpful in informing myself and my parents as to the options available for them. It was easy to read and easy to understand. It gave many helpful hints and helped us figure out if a reverse mortgage was approriate for them.

It is essential if you or someone in your family is considering, or wants to learn more about, a reverse mortgage loan. It walks you through the process from borrowing to repayment in a conversational, easy-to-read format. You can read about real life situations that are very helpful for you to see how a reverse mortgage can work for you.

The book provides precise information on each of the types of reverse mortgages that are available. You will find information about the ways in which you can receive your payments, and all of the incumbent fees and costs that may come with this kind of loan are revealed. It outlines how to protect yourself and how you are already protected. Checklists are provided covering all the points to consider before making each decision, such as how to choose a lender.

     

Reverse Mortgage - Consider Reverse Mortgage

Reverse Mortgage * Consider Reverse Mortgage

Creating Consider with Reverse Mortgages- A history lesson and paradigm shift   
Angella Conrard

Who ever thought that it would make sense to get a mortgage that would decrease your home equity?

Well in certain instances it does. Lending philosophies have changed over history and they will continue to change in the future.

Before the Federal Housing Administration (FHA) existed only 50% financing was available for an American to buy a home. FHA created the pathway to home ownership for low and middle income Americans.

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Home Calendar (Detroit Free Press)
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FHA was created in 1934 when the housing industry was defunct. Americans didn't own in those days they rented. The American dream to own a home was for many, just that a dream. FHA changed all that. The US government created FHA to help military families buy homes. They insured the financing which would have been other wise unattainable to those families. Starting in the 1950's FHA made it possible for Middle America to become homeowners. This government program created the pathway for our housing market to grow and make it common place for home ownership. Currently, most every homeowner is financed through a private institution because FHA paved the way.


In the 1980's Congress started to study reverse mortgages and their potential of helping the elderly in financing care and retirement. FHA began to insure reverse mortgages. In 1988 Fannie Mae announced its intention of purchasing reverse mortgages insured by FHA. Reverse mortgages like most programs started as a pilot program. FHA's insurance assured these loan programs become successful. Now, as our society grows older, and we are living longer, a reverse mortgage can make the difference between getting older in poverty, just getting by or supplementing retirement income to make a more comfortable retirement lifestyle.

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Coffey: Details On Social Security Phone Number, Benefits Spotlighted (Chattanooga Times Free Press)
Q: Mrs. K. of Ooltewah asks: “A friend of mine tells me that the Chattanooga Social Security office has a new telephone number. Does this mean I will be able to talk to someone in the office? In...

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So why consider turning your equity into cash? Americans are not good savers. AARP says that a majority of Americans are counting on Social Security for most of their retirement income. The challenge is that Social Security's intake will fall short of its expenses in 2017 by some estimates. This is the year when the first of the Boomers turn 70 and will be counting on Social Security to fund a majority of their retirement. Boomers haven't saved enough money for retirement. What might make sense to supplement retirement income?


The largest asset that most Americans own is their home. The home they worked to pay off or near pay with years and years of payments. Why would a Reverse Mortgage make sense for a senior or a senior boomer in the future? Because it will make the difference between working part time to make ends meet or not, paying for medicine or medical care or not, paying for long term care or depending on the government for care or not. A Reverse Mortgage can make a difference in people's lives. A Reverse Mortgage can create a life with the security of never losing their home, never making another house payment and creating retirement income they can count on.


When the "Silver Tsunami" hits I predict a paradigm shift in how we view our largest asset.


FHA has created paths for us in the past and I believe they have again now. I think you'll see hybrid reverse mortgage products that will be designed to help fund our retirement. In Australia for example, you can attain a reverse mortgage on a commercial property. I think that a paradigm shift on how we can best use the largest asset that many Americans will own during their lifetimes is occuring. It is my belief that Reverse Mortgages will be as common and as important to the American retirement plan as the IRA or 401k.


Angella Conrard is a Reverse Mortgage Advisor and the President/Founder of the National Aging in Place Council - OC. For more information on current products visit her website www.reverse-your-mortgage.com. Or contact Angella Conrard directly at.






Angella Conrard is designated as a Reverse Mortgage Specialist by the National Reverse Mortgage Lender's Association. She works exclusively with these special types of loans.
Angella represents all reverse mortgage products on the market and keeps a close eye on legislation, senior issues and upcoming trends that will best serve her clients.
Angella is a dedicated professional. She is the president and founder of the National Aging in Place Counc

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Index of Articles about Reverse Mortgage

What Other Authors say about Reverse Mortgage

Thousands of Older Americans are No Longer House Rich and Cash Poor by Barry Scoles

Nowadays, reverse mortgages are becoming popular among seniors and retirees as a way to supplement their income and allow them to live comfortably through their retirement. The number of seniors nationwide...

Reverse Mortgages - Are They Only For Suckers? by Felicity Walker

It sounds too good to be true- a home loan that you never need to pay back. No monthly repayments, nothing - for as long as you're alive or live in your home. Welcome to a reverse mortgage - it may sound...

Everything You Need To Know About A Reverse Home Mortgage by Terry Edwards

Reverse home mortgages have risen in popularity as of late. They offer a great opportunity for the senior homeowner to get a loan against the equity of their home. What makes it more special is the loan...

Reverse Mortgage: A Dignified Way For Retirees To Supplement Income And Take Care Of Expenses by Vishy Dadsetan

For many Americans reaching the retirement age, the equity build up in their home is their only real asset. Reverse mortgage is a way to tap into this asset and create a stream of income needed for retirement...

The difference between traditional and reverse mortgages by Ioan Margineanu

Because most people work on hectic programs, they don't have time for vacations and they don't find time to relax properly. Many people prefer to work hard and enjoy years of relaxation once they retire....