REAL ESTATE - MORTGAGES - INVESTMENTS MIAMI & MIAMI BEACH

REVERSE MORTGAGES

Mortgage Consultant HECTOR A. SAENZ SR. Off: 305-559-8489/ 786-273-8761 - Cell eFAX: 1-877-586-7267 - T/FREE: 1-866-666-7259 or E-Mail : hasaenz777@yahoo.com FOR SENIORS 62 YRS OR MORE  ASK  HECTOR A. SAENZ CONSULTANT ON  SENIORS CITIZEN's 55+ & 62+ AFFAIRS "THE REVERSE MORTGAGE" "IT'S LIKE  HAVING SPENDABLE  MONEY IN THE BANK" WHAT IS A REVERSE MORTGAGE Reverse Mortgages are helping older Americans across the country achieve greater financial security. And enjoy their retirement years to the fullest.  Imagine having the income you need to remain living comfortably in your home in retirement - and at the same time make much needed repairs or renovations, afford quality home health care, or even vacation with family and friends. Over 7,000 older Americans per month have done that thanks to the Reverse Mortgage, a unique financial security tool that gives older Americans the freedom and peace of mind to fully enjoy the retirement years. A Reverse Mortgage is a loan that allows seniors to use the equity they've accumulated in their homes over the years to improve their quality of life and reduce the financial barriers to independent living. By converting equity into income, a Reverse Mortgage is a way to stay in your home and receive cash to use for any purpose - whether it's day-to-day-living expenses, home remodeling or repair, paying off existing debt, earning a college degree, traveling around the world or even pay for your grand child's college education.  Best of all, you retain title of your home and remain living in your home. Homeowners who are 62 years and older can qualify and may be eligible even if there is an existing first or second mortgage. There is no income qualification, no credit score qualification, or employment qualification. The size of the Reverse Mortgage granted depends upon the applicant's age, the type of Reverse Mortgage sought, the home's value, and interest rates. For as long as a Reverse Mortgage is outstanding, no monthly mortgage payments are required. The loan matures when the borrower no longer occupies the home as a primary residence. This typically occurs upon the sale of the home, or if the owner permanently moves or passes away. Check here:  HOW HUD DEFINES A REVERSE MORTGAGE. Reverse Mortgage Fast Facts 1.- At least one of the borrowers must be 62 years and older 2.-No repayment is made until the home is sold or the owner 3.-permanently moves out or passes away 4.-You will never owe more than the value of your home (This is a non-recourse loan program) 5.-No income qualification, no credit qualification, no employment qualification 6.-Interest is paid at the time the loan is repaid 7.-When the loan is due, your heirs have choices - they can repay the loan and keep the house, or sell the home and repay the loan. 8.-Social Security benefits and Medicare are generally not affected by a reverse mortgage - consult your tax advisor. 9.-You own your home and title stays in your name 10.-Interest rates are adjustable and can change periodically 11.-Closing costs and fees incurred can be financed as part of the loan; there is zero to minimal out of pocket costs to you 12.-All closing costs are regulated by FHA-HUD Receiving your Reverse Mortgage Proceeds 1.- All at once, in a single lump sum of cash.  2.- As a regular monthly cash annuity 3.-As a “credit line” account that lets you decide when and how much of your available cash is paid to you.   4.- Or As a combination of these payment methods. No matter how this loan is paid out to you, you don’t have to pay anything back until you pass away, sell your home, or permanently move out of your home. Retirement should be a time for Enjoyment. Reverse Mortgages are designed to help you achieve your goals by providing you extra tax-free cash flow to live your retirement years without the stress of worrying about money. If you own your home, a reverse mortgage may be right for you.  Our Reverse Mortgage Consultants, are here to help answer any questions and assist you through the process. We will gladly prepare a free analysis and loan comparison for you with no obligation or restrictions. Reached your CONSULTANT... QUESTION & ANSWER ON  REVERSE MORTGAGES IN ENGLISH         EN ESPAÑOL   Mortgage Consultant HECTOR A. SAENZ SR. Off: 305-559-8489/ 786-273-8761 - Cell eFAX: 1-877-586-7267 - T/FREE: 1-866-666-7259 or E-Mail : hasaenz777@yahoo.com