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 - Reverse Mortgage Loans

Reverse Mortgage * Reverse Mortgage Loans

Reverse Mortgage Loans   
Tony Robinson

If you were to ask the average consumer to define the reverse mortgage concept, you would find very few able to do so.

Many consumers, especially those who aren't up on their mortgage products and their availability will never have heard of a reverse mortgage, much less able to explain the concept. But it may just be one of the best financial planning tools available to many seniors and those reaching retirement age.

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This Mortgage Works In Reverse (The Fredericksburg Free Lance-Star)
Gary Onks answered more than 30 questions about what reverse mortgages are and how they work during Tuesday's Money Talk$. He is the regional branch manager of Reverse Mortgage USA in Spotsylvania County....


As many individuals reach retirement age, their fixed incomes simply aren't adequate. They aren't receiving enough through social security or a pension fund to take care of the rising costs of living and the medical attention many older citizens must have. So what is the solution? Many of these retirement age citizens have children. Why can't their children supplement their incomes, or simply take care of their elder care needs? The simple fact is that many of their children aren't in a position to care for their elderly parents. Their incomes aren't enough to have money left over, and if both spouses work, there is no one to take care of an aging parent.

It is at this juncture that many people have begun to turn to the reverse mortgage in seeking the increase in monthly income that is so desperately needed. The reverse mortgage offers older citizens a way to benefit from the equity in their home, because the reverse mortgage turns that equity into a monthly income. Quite frankly, unless you live with your parents, or you intend to move into your parents home when your parents pass, you aren't going to retain the home; statistics attest to the fact that the vast majority of children sell their parents home, once their parents are no longer in need. Why not cash in on that equity when your parents are alive, and need the monthly income?

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Oops! Citibank Prints 600,000 Customer Social Security Numbers On Envelopes With Tax Info (New York Daily News)
Citibank mistakenly printed 600,000 customers' Social Security numbers on the envelopes containing their year end tax statements, the company acknowledged Tuesday.


The popularity of the reverse mortgage has been steadily increasing, and many reverse mortgage companies expect 2005 to be a banner year. As the idea begins to catch, and spread among the elderly, there are more mortgage companies that offer a reverse mortgage product. The key here is that most of these elderly did plan for retirement; they did try to make the necessary adjustments so that there monthly incomes would be enough to see them through their retirement years. Thanks, however, to the rising cost of medical care, prescription medicine, and heating fuel, many older citizens have found that their planned retirement income each month is simply not enough.
There are those reaching the retirement years, for which the reverse mortgage is not an option, simply because they have no equity in their homes, or they don't own a home; but for the remaining seniors, it's an option that I would exercise, especially if I were certain my home would be sold during an estate or inheritance sale. The money that the reverse mortgage generates, can add so much to the few years we have during our retirement in the areas of travel, entertainment, and sheer enjoyment of life.

Since we can never be sure that we've properly prepared for retirement, or that some unexpected emergency won't knock us off our feet, or that we simply do not have enough thanks to the stock market losses of recent years, the reverse mortgage is one of the best ways for older citizens to access the equity in their homes and turn it into ready cash.

We have saved the best part, however for last: any proceeds from the reverse mortgage are tax-exempt proceeds. In other words, you will not have to pay tax on the money. There are other, tax-exempt options, but the reverse mortgage remains one of the most conducive to the senior citizens needs, as well as those of their families. The interest payments on a reverse mortgage are deferred until death, therefore, seniors do not have to be concerned with making interest payments or tax payments on the proceeds.
If you're not familiar with the reverse mortgage, and you think you might benefit, or that your parents might benefit, take a moment to seek the advice of a financial officer, and then quite possibly your attorney. Never make any decision before you fully understand what the consequences of your decision might be, legal or otherwise.

Tony Robinson is a Real Estate Investor, Webmaster and International Author.
Visit for his tips on mortgages.

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Index of Articles about Reverse Mortgage

What Other Authors say about Reverse Mortgage

Reverse Mortgages For Seniors by David Glu

Reverse mortgage has become popular in America these days, these are special type of mortgage that helps an homeowner to convert his home equity into cash, this boost up the American older financial security...

Is a Structured Settlement Reverse Mortgage Right For You? by Mayoor Patel

One of the ways to create a steady supply of income in selected situations is to enter into a structured settlement reverse mortgage. This is primarily an option for persons who own property that is paid...

What Are the Advantages of Reverse Mortgages? by Mark Viner

<p>If you meet both criteria, then you are free to apply for a reverse mortgage from your local lending company.<p>Advantages of reverse mortgage over other mortgages<p>1.A homeowner...

The Disadvantages of Reverse Mortgages by Charles Kirkendall

A reverse mortgage can be an attractive option for many home-owning seniors that are having a hard time making ends meet. With a reverse mortgage, a senior homeowner will receive money for their home equity...

The Reverse Mortgage... What The Heck Is It Anyway? by Don Adams

Are you 62 or older and own your own home? Then, you probably qualify for a reverse mortgage. But, what the heck is it anyway? Well, if you still have a conventional mortgage ... or had one until you burned...

How To Turn Disadvantages Of A Reverse Mortgage To Your Advantage by Keith Choy

When it comes to a reverse mortgage, wise consumers weigh the advantages and disadvantages prior to signing on the dotted line.Let's start on a positive note, you could do what most borrowers do and opt...