- Optimizing Your Retirement
- Easing Retirement Worries
- Diversifying Retirement Investments
- Caring for Loved Ones
- Professional Partners
Clients at or near retirement age have specific financial needs. At age 65, many people don’t have enough savings to maintain their standard of living during retirement. Many seniors downsize their home for easier living, both physically and financially. A reverse mortgage may help your clients make the most of their retirement years. Reverse mortgages are more highly regulated than ever in their history, making one an option you and your clients can trust.
With a reverse mortgage, real estate professionals have another way to tap into the aging Baby Boomer market. This rapidly expanding over-60 crowd may want to “right-size” their home, relocate to a warmer climate, or move near family.
A Home Equity Conversion Mortgage (HECM) for Purchase from Finance of America Reverse LLC (FAR) can make it easier and more affordable for clients age 62 and older to buy a home that suits their current needs.
With you as their guide, the FHA-insured HECM loan can give clients more available cash to pay off an existing mortgage and purchase a new home.
Contact one of FAR’s HECM for Purchase loan officers to find out more about this unique resource. Reverse mortgages offer a range of benefits for you and your clients.
Clients age 62 and over have to carefully manage their finances to ensure they maximize their retirement savings.
In addition to suggesting portfolio diversification to suit a client’s age and financial status, financial advisors can offer reverse mortgages as another useful, proventool to provide additional tax-free* income. A reverse mortgage can give clients income to maintain their standard of living while withdrawing less from their retirement savings—leaving more to grow.
Clients must use the proceeds to pay off an existing traditional mortgage, which can substantially improve cash flow. They can also receive funds as a line of credit to pay for unexpected hospital bills and other expenses.
* Not tax advice. Consult a tax professional.
My Reverse Mortgage Specialist “walked me thru every step of the process—making sure I understood all transactions. He answered any question and concerns—explaining it as many times as it was necessary. He always returned calls…he cared and was concerned about you, not just the loan. All his efforts and actions gave me confidence in him and the company he represented.”
Ursula, Melbourne, FL
“I really appreciate the efficiency and friendly manner that both (my Reverse Mortgage Specialist) and (loan processor) have shown me through this whole process. I’m very impressed with Finance of America Reverse’s service.”
Meredith, San Diego, CA
“I would like to compliment you for the guidance you gave me during the Reverse Mortgage procedure. Your knowledge of the Reverse Mortgage procedure was evident in your clear, concise explanations. Any questions I asked, if you did not have the answer you researched it and got back to me in a timely manner. The rapport we built during this process made me feel very comfortable and it dispelled a lot of false rumors about a reverse mortgage….I would not hesitate to recommend your company and you as a Reverse Mortgage Specialist.”
Saundra, Hyde Park, MA