Financial Advisors

We Work With Trusted Advisors

A Note To Trusted Advisors:

Did you know that reverse mortgage loans can be used as an excellent tool for high net worth clients to prevent portfolio depletion? It is a loan that needs to be evaluated based on the client’s given scenario. We can provide detailed loan scenarios to you (with your client’s permission) to help reach a decision that is aligned with the interest of all parties. We are upfront with all our clients about the advantages and disadvantages of a reverse mortgage.

 

 

Reverse mortgages provide many advantages for the senior borrower. Here is a short list of just a few:

• Proceeds received from a reverse mortgage typically do not affect Social Security or Medicare.
• Provides access to a portion of their home’s value without the requirement of monthly mortgage payments. Borrowers must continue to meet ongoing property obligations such as homeowner’s insurance and property tax payments.
• Could allow senior to purchase a new home with no monthly principal and interest mortgage payments.
• Could provide a source of cash flow while borrower allows their investments to recover from market losses.
• Improves a senior’s standard of living or allows them to live out their non-working years with fewer financial worries.
• Pay off existing mortgage freeing up monthly cash flow which would have been committed to ongoing mortgage payments. With the reverse mortgage, there are no more required principal and interest mortgage payments.
• Allows the senior to maintain their independence while living in their own home.
• Could Provides money for in-home health care or medical expenses.

 

Who Should Consider a Reverse Mortgage?

• A parent that has substantial home equity with a limited or fixed income.
• Wants to maintain or improve lifestyle.
• Prefers to access mortgage loan proceeds instead of other accounts or sources which may be taxable.
• Wants to remain in home and age in place utilizing a reverse mortgage.