How Can Seniors Maintain Financial Independence
Senior adults all across the country are enjoying greater financial security and independence provided by the government-insured reverse mortgage program. This innovative program enables homeowners 62 years of age and older to convert a portion of their home’s equity into tax free funds with no repayment for as long as they live in their home. Older homeowners no longer need to compromise their standard of living in order to keep up with rising costs.
Many senior Americans are finding that their “golden years” are not very golden. Property taxes, medical expenses, home maintenance, energy cost and other living expenses keep going up!
Rising property taxes are squeezing retirees who have lived in the same house for 20, 30, or 40 years. For many retirees, it takes two full months of saving to pay their rising property taxes. With seniors starting to receive tax bills, the levies are crushing them. Assessments in some areas have climbed 9 to10 percent for several years in a row when housing prices were rising. It’s unfortunate but a great many senior adults are losing their homes because they can no longer afford to pay their property taxes. Kaye Financial Corporation, one of the most respected top reverse mortgage lenders in Michigan, has assisted many homeowners faced with this property tax burden and would like to do the same for you.
Most senior adults are on a fixed income, and it can be a real challenge just to make ends meet each month. Sometimes it can mean making a decision between cutting back on food or medicine. However, thanks to the reverse mortgage seniors can now supplement their retirement income.
A reverse mortgage is a safe financial option for many senior homeowners that provide a more comfortable retirement and the ability to remain in their home for life. This financial resource has the potential to dramatically increase the ability of seniors to pay for long term care at home. Cash advances from the program can be structured to best fit a senior’s needs by either receiving funds monthly, all at once, establishing a line-of-credit, or a combination of the above.
Many senior adults find it difficult qualifying for a traditional loan. With reverse mortgages there are no income, health, asset, credit or employment qualification standards required.
Seniors utilize their reverse mortgage funds to pay property taxes, medical expenses, or to pay off their existing mortgage and eliminate their monthly mortgage payment. Reverse mortgages enable senior adults to gain financial security and maintain independence, and realize peace of mind.
Key Points
- Continue to live in your home, own the home and hold title to your home.
- Funds received from a reverse mortgage are tax-free.
- Cash disbursement payment options are flexible.
- Repay the loan at any time without penalty
- You and your heirs have no personal liability to the repayment of the loan
since it is secured solely by your home.
- No monthly payments.
- Your reverse mortgage advances will not affect your Social Security or
Medicare benefits.
- You can remain in your home for as long as you like, provided you make your real estate property tax and insurance payments.
- When the reverse mortgage must be paid, you or your heirs can either pay the balance due and keep the home in the family, or sell the home and use the proceeds to pay off the reverse mortgage.
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The “Four Nevers” of Reverse Mortgages:
The borrower:
NEVER makes a payment, NEVER gives up title, NEVER is forced to move, and NEVER
will owe more than the home’s value.
At Kaye Financial Corporation, we review your goals and objectives and determine
if a reverse mortgage is a viable option for you. We also provide the highest level of customer service available in our industry. Our average time from application to closing is 5-6 weeks (most companies are running 7-10 weeks) This can be critical, especially if you are in foreclosure or bankruptcy.
Kaye Financial Corporation is a proud member of the Senior Lending Network and recognized as an Approved Lending Institution by the U.S. Development and Urban Development and Equal Housing Lender.
Call today for a FREE No Obligation Video or DVD or a no cost analysis to find out how much you would be eligible for.
Kaye Financial Corporation
Toll Free 1-866-894-5829
Or visit us at our website www.Kayereverse.com
E-Mail – Kayereverse@core.com |
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