Enjoy Freedom With a Reverse Mortgage

Utilize the form to learn if a Reverse Mortgage is right for you.

Enjoy Freedom With a Reverse Mortgage

Utilize the form to learn if a Reverse Mortgage is right for you.

William Lowery | Broker/Owner
2007 N 9th Street
Boise, Idaho 83702
 
Jenn Sims | Morgate Advisor
460 S. Fitness Place
Eagle, ID 83616
NMLS-175054
 

Let's Talk about the Elephant in the Room

When talking about Reverse Mortgages You’ve likely seen or heard negative stories or have read unfortunate accounts of older Americans taking out a reverse mortgage loan and somehow ending up facing foreclosure on their home or some other horrible story or situation. But are those partial narratives really telling the whole story about reverse mortgages? Or are they simply perpetuating common reverse mortgage myths? My goal here is to put to flight the myths and uncover the truths!

The fact is over 1 million Americans have benefited from reverse mortgages since the federally-insured* program began in 1989, despite what many have been led to believe.

Unraveling Reverse Mortgages

Reverse by Design is dedicated to dispelling lingering misconceptions about reverse mortgages and bringing the truth of this unique financial product to light. Below are a few of the most common myths about reserve mortgages and the truth that lie behind these misconceptions.

Reality: Don’t worry, with a reverse mortgage, your home is still yours. Just like any other loan, if you meet the requirements of the loan, you will retain ownership and keep the title to your home.

Reality: Don’t have your home fully paid off? As long as you have equity in your home, you may still qualify for a reverse mortgage. A licensed loan officer can help you determine what’s right for your situation.

Reality: Similar to any traditional mortgage, reverse mortgages do have costs and fees. The majority of these fees are the same fees you would pay for any mortgage. The good news is that you can roll most of them into the loan, which significantly reduces any out of pocket expenses.

Reality: With a reverse mortgage, you can still leave your home to your children. The title will pass to your estate, which will determine hot to repay the loan.

Reality: Reverse mortgage proceeds can be used in multiple ways. Among the most common uses are paying off an existing mortgage or other debt in order to have no monthly mortgage or debt payments; creating a cash reverse; supplementing monthly income; paying for home improvements; or covering medical bills or long-term care expenses.

Reality: Not so. Reverse mortgages help people in a variety of situations – they are no longer a last resort for the desperate. Today’s reverse mortgages can be used as a strategic financial tool to optimize your retirement and protect your assets.

Got a Question?

Let's Talk about the Elephant in the Room

When talking about Reverse Mortgages You’ve likely seen or heard negative stories or have read unfortunate accounts of older Americans taking out a reverse mortgage loan and somehow ending up facing foreclosure on their home or some other horrible story or situation. But are those partial narratives really telling the whole story about reverse mortgages? Or are they simply perpetuating common reverse mortgage myths? My goal here is to put to flight the myths and uncover the truths!

The fact is over 1 million Americans have benefited from reverse mortgages since the federally-insured* program began in 1989, despite what many have been led to believe.

Unraveling Reverse Mortgages

Reverse by Design is dedicated to dispelling lingering misconceptions about reverse mortgages and bringing the truth of this unique financial product to light. Below are a few of the most common myths about reserve mortgages and the truth that lie behind these misconceptions.

Reality: Don’t worry, with a reverse mortgage, your home is still yours. Just like any other loan, if you meet the requirements of the loan, you will retain ownership and keep the title to your home.

Reality: Don’t have your home fully paid off? As long as you have equity in your home, you may still qualify for a reverse mortgage. A licensed loan officer can help you determine what’s right for your situation.

Reality: Similar to any traditional mortgage, reverse mortgages do have costs and fees. The majority of these fees are the same fees you would pay for any mortgage. The good news is that you can roll most of them into the loan, which significantly reduces any out of pocket expenses.

Reality: With a reverse mortgage, you can still leave your home to your children. The title will pass to your estate, which will determine hot to repay the loan.

Reality: Reverse mortgage proceeds can be used in multiple ways. Among the most common uses are paying off an existing mortgage or other debt in order to have no monthly mortgage or debt payments; creating a cash reverse; supplementing monthly income; paying for home improvements; or covering medical bills or long-term care expenses.

Reality: Not so. Reverse mortgages help people in a variety of situations – they are no longer a last resort for the desperate. Today’s reverse mortgages can be used as a strategic financial tool to optimize your retirement and protect your assets.

Got a Question?