The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!

The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!

The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!

The Complete Guide to Reverse Mortgages: Turn Your Home Equity into Instant Income!

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Overview

Get the most from your home!

Until recently, there were only two main ways you could get cash from your home: sell it or borrow against it and make monthly loan repayments. Reverse mortgages offer a third way of getting money from your home. If you are a homeowner, age 62 and older, you are eligible to apply for a reverse mortgage loan that converts your home equity into a tax-free income.

With The Complete Guide to Reverse Mortgages, you’ll learn all you need to know to earn the supplemental income you need, without worrying about:

• Having to sell your home
• Giving up your title
• Taking on a new monthly mortgage payment

This invaluable guide explains everything you need to know about reverse mortgages and how to use them to your advantage. With practicing attorneys Tammy Kraemer and Tyler Kraemer leading the way, you will learn the step-by-step process to getting a reverse mortgage and making the best of your retirement!

Product Details

ISBN-13: 9781440501029
Publisher: Simon & Schuster
Publication date: 02/13/2024
Sold by: Barnes & Noble
Format: eBook
Pages: 259
Sales rank: 543,127
File size: 5 MB

About the Author

An Adams Media author.

Table of Contents


Introduction     ix
The ABCs of Reverse Mortgages     1
The Reverse Mortgage Story     2
Reverse Mortgage Basics     12
Considering the Options     27
Home Equity Conversion Mortgages     28
Fannie Mae Home Keeper Mortgage     42
Financial Freedom Cash Account Advantage Plan     55
Personal Planning     65
Health Care, Long-Term Care, and Government Benefits     66
Alternatives to a Reverse Mortgage     78
What Is a Reverse Mortgage Worth to Me?     93
Making It Happen     107
The Reverse Mortgage Team     108
Choosing the Right Loan and Other Decisions     119
Demystifying the Approval Process     138
Other Important Considerations     151
Closing and Managing a Reverse Mortgage     152
Special Circumstances and Considerations     162
Loan Comparison Worksheets     175
Loan-Specific Worksheets     199
Resources     207
Glossary     215
Index     235
About the Authors     244
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