According to recent reports, over one million American seniors have taken out a reverse mortgage.* Seniors that take advantage commonly receive 50% of the equity in their home as a lump sum or through scheduled payments. However, many that might qualify still remain unaware.
When Christina Moore went to American Advisors Group (AAG) (NMLS# 9392) and took their short survey she was surprised by the results.
"I couldn't believe it. They connected me with a reverse mortgage professional in minutes. I kept the title of my home, stopped paying the monthly mortgage and received enough cash to consider retirement."
When people looking for more information visit American Advisors Group (AAG) (NMLS# 9392) they can be connected with a Reverse Mortgage Professional in their local area for a free consultation. Many are shocked when they discover how much they might receive.
To learn if you qualify is simple. Visit their site and take their short survey. If you're like Christina Moore, you'll be glad you did!
Reverse Mortgage Pros
- Live in your home and retain title as long as you continue to pay your property taxes, insurance, and maintenance.
- Loan proceeds are commonly tax-free and can be used in almost any way the borrower sees fit. Speak with an advisor to learn more.
- No more monthly mortgage payments during the course of the loan. Just be sure to maintain all required homeowner responsibilities.
- Receive the funds how you want; one-time lump sum, line of credit, or a steady stream of monthly advances. American Advisors Group (AAG) (NMLS# 9392) will help you to understand those options.
- Generally, a reverse mortgage loan will not affect Social Security or Medicare benefits. However, consult a financial professional to determine the potential implications before enrolling.
- If your home value increases, you can always consider refinancing your reverse mortgage to access even more loan proceeds.
Ready to see if you qualify? Visit American Advisors Group (AAG) (NMLS# 9392), take the short survey and understand your options!
Reverse Mortgage Cons
- Fees associated with the loan are generally higher than with other financial products. Take to your advisor about all available options.
- The balance of the loan increases over time as does the interest on the loan and the fees associated.
- A reverse mortgage loan becomes due and must be repaid when a “maturity event” occurs.