Details for MEDIA SPACE SOLUTIONS - Ad from 2019-08-08

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Why Haven’t Senior
Homeowners Been
Told These Facts?
Keep reading if you own a home in
the U.S. and were born before 1957.

It’s a well-known fact that
for many senior citizens in the
U.S. their home is their single
biggest asset, often accounting
for more than 50% of their total
net worth.
Yet, according to new statistics
from the mortgage industry,
senior homeowners in the U.S.
are now sitting on more than 6.9
trillion dollars* of unused home
equity.
With people now living
longer than ever before and
home prices back up again,
ignoring this “hidden wealth”
may prove to be short sighted.
it’ss not
All things considered, it

homeowners 62 and older to get
the extra cash they need to enjoy
retirement.
Although today’s HECM
loans have been improved to
provide even greater financial
protection for homeowners, there
are still many misconceptions.
For example, a lot of people
mistakenly believe the home
must be paid off in full in order
to qualify for a HECM loan,
which is not the case. In fact,
one key advantage of a HECM
is that the proceeds will first be
used to pay off any existing liens
on the property, which frees up
cash flow, a huge blessing for
seniors living on a fixed income.
Unfortunately, many
senior homeowners
who might be better off
n’t
with HECM loan don
et mor
more
even bother to get
ause of
information because

surprising
Our new Reverse Mortgage infomation guides & DVD are now available
more
that mor
featuring award-winnng actor and paid AAG spokesman, Tom Selleck
than a million
homeowners have already used
rumors they’ve heard.
a government-insured Home
That’s a shame because
Equity Conversion Mortgage
HECM loans are helping many
or “HECM” loan to turn their
senior homeowners live a better
home equity into extra cash for
life.
retirement.
In fact, a recent survey by
However, today, there are still
American Advisors Group
millions of eligible homeowners
(AAG), the nation’s number one
who could benefit from this
HECM lender, found that over
FHA- insured loan but may
97% of their clients are satisfied
simply not be aware of this
with their loans. While these
“retirement secret.”
special loans are not for everyone,
Some homeowners think
they can be a real lifesaver for
HECM loans sound “too good
senior homeowners.
The cash from a HECM loan
can be used for any purpose.
Request a FREE Info Kit
Many people use the money
& DVD Today!
to save on interest charges by
Call 1-800-840-6698 now.
paying off credit cards or other
high-interest loans. Other
to be true.” After all, you get the
common uses include making
cash you need out of your home
home improvements, paying off
but you have no more monthly
medical bills or helping other
mortgage payments.
family members. Some people
It’s a fact: no monthly
simply need the extra cash for
mortgage payments are required
everyday expenses while others
with a government-insured
are now using it as a “safety
HECM loan; however the
net”for financial emergencies.
homeowners are still responsible
If you’re a homeowner age 62
for paying for the maintenance
or older, you owe it to yourself to
of their home, property taxes,
learn more so that you can make
homeowner’s insurance and, if
an informed decision.
required, their HOA fees.
You may be pleasantly
Another fact many are not
surprised by what you discover
aware of is that HECM reverse
when you call AAG for more
mortgages first took hold when
information today.
President Reagan signed the
FHA Reverse Mortgage Bill into
Homeowners who are
law 31 years ago in order to help
interested in learning more
senior citizens remain in their
can request a FREE 2019 Reverse
homes.
Mortgage Information Kit and
Today, HECM loans are
DVD by calling toll-free at
simply an effective way for
1-800-840-6698
*Source:https://www.mpamag.com/market-update/senior-home-equity-has-grown-to-6-9-trillion-112295.aspx
A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). AAG
works with other lenders and fnancial institutions that offer reverse mortgages. To process your request for a reverse mortgage, AAG
may forward your contact information to such lenders for your consideration of reverse mortgage programs that they offer
Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home, paying property
taxes and homeowners insurance. Although these costs may be substantial, AAG does not establish an escrow account for
these payments. However, a set-aside account can be set up for taxes and insurance, and in some cases may be required. Not
all interest on a reverse mortgage is tax-deductible and to the extent that it is, such deduction is not available until the loan is
partially or fully repaid
AAG charges an origination fee, mortgage insurance premium (where required by HUD), closing costs and servicing fees, rolled
into the balance of the loan. AAG charges interest on the balance, which grows over time. When the last borrower or eligible nonborrowing spouse dies, sells the home, permanently moves out, or fails to comply with the loan terms, the loan becomes due and
payable (and the property may become subject to foreclosure). When this happens, some or all of the equity in the property no
longer belongs to the borrowers, who may need to sell the home or otherwise repay the loan balance.V2019.04.17
NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 3800 W.
Chapman Ave., 3rd & 7th Floors, Orange CA, 92868. (4824 NW Gateway Ave, Suite 201, Riverside, MO 64168)
These materials are not from HUD or FHA and were not approved by HUD or a government agency.

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