
- Has substantial experience in Long-Term Care Insurance
- A Strong understanding in underwriting, policy design, and claims experience.
- Represents all or most of all the leading insurance companies.
The Reverse Mortgage process has become much more streamlined in recent years to make it more affordable for seniors. Read below if you seek ways to maximize your assets while providing yourself with the peace of mind you deserve when considering retirement planning.
You may have heard things about Reverse Mortgages. In recent years, these mortgage products have become popular to help many American families plan for a successful retirement. However, do not confuse older reverse mortgages with those of today.
The use of home equity or "housing wealth," as it has come to be known, has become a prevalent practice among consumers and financial planners throughout the country to assist consumers with products and services that might otherwise be out of their financial reach.
Today's reverse mortgages have become a very viable option to access the equity in your home to enjoy a more successful retirement. For many middle and upper-middle-income Americans, their home represents their single most significant financial asset. Reverse Mortgages are an option for many people to overcome various bumps in the road in retirement.
These include:
Can help you secure the best rate on mortgages - including reverse mortgages. Get expert advice.
NMLS: 1250922
Can help you secure the best rate on mortgages - including reverse mortgages.
Get expert advice.
NMLS: 1250922
LTC NEWS has teamed up with the host of the TV Show "62 Who Knew" to answer questions you may have about reverse mortgage products.
As the President & CEO of Professional Mortgage Alliance, LLC, Mike Banner is one of the country's leading experts in reverse mortgages.
As the host of the TV Show "62 Who Knew" and columnist on LTC NEWS, Mike has become an outstanding source for information on retirement planning, aging, caregiving, long-term health care, and other issues related to aging.
Ask your question below, and Mike will respond to you via email – personally and confidentially.
With a Reverse Mortgage, at least one borrower must be a minimum of 62 years old. There is no obligation to make any monthly principal and interest payments. Although you may make principal reductions if you choose to do so. The loan does not come due until:
How much you can borrow depends on three factors.
Interestingly, most Reverse Mortgage consumers are eliminating their present mortgage payment, which significantly improves their disposable monthly income.
A reverse mortgage can be a perfect solution for many homeowners to produce additional cash flow during retirement. A reverse mortgage can fund Long-Term Care Insurance, especially for those who might have thought they could not afford it. The policy will then provide you with asset protection and access to quality care, including in-home care that allows a person to stay in their home and avoid or delay the need of a facility.
For a homeowner who has poor health and is not eligible to obtain Long-Term Care Insurance or a person who already needs long-term health care, a reverse mortgage can provide the necessary resources to pay for extended health care.
Here are some key facts about today's Reverse Mortgages:
Get free information about reverse mortgages and if it makes sense for you to consider by completing the information below. A licensed real estate mortgage broker will provide the information with no obligation.
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