<div class="h2">What is a reverse mortgage?</div>
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<ul>
<li>A reverse mortgage is a safe and easy way for seniors to turn their home’s equity into an additional source of income to meet any financial need.</li>
<li>It is a loan that is available to senior homeowners who are at least 62 years of age.</li>
<li>Unlike traditional home equity loans, this product does not require repayment of any kind until the home is sold, or the borrower permanently leaves their primary residence.</li>
</ul>
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<div class="h2">How do you qualify for a reverse mortgage?</div>
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<ul>
<li>Borrowers need to be at least 62 years of age,</li>
<li>Own their home, and live in their primary residence.</li>
<li>There are no income or credit qualifications.</li>
</ul>
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<div class="h2">How are the proceeds paid?</div>
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<ul>
<li>Lump Sum.</li>
<li>Monthly (Tenure) Payments - for Life of Loan.</li>
<li>Term Payments – for specific period of time</li>
<li>Line of Credit – with growth</li>
<li>Modified Tenure – Combination of Monthly Payment and Line of Credit</li>
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<div class="h2">Are there any limitations on the proceeds?<br />No. Reverse mortgage borrowers may use the proceeds for whatever they wish:</div>
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<ul>
<li>Pay off debt, including mortgage and credit cards.</li>
<li>Make needed home repairs.</li>
<li>Pay for home health care.</li>
<li>Make additional retirement investments</li>
<li>Purchase Long Term Health Insurance</li>
<li>Help grandchild with college expenses</li>
<li>Travel</li>
</ul>
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<div class="h2">Why consider a Reverse Mortgage?</div>
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<ul>
<li>No repayment until home is sold or borrower permanently moves.</li>
<li>Unlocks the equity built into home</li>
<li>No income or credit qualifications</li>
<li>Proceeds received as tax-free income</li>
<li>Interest is paid at time loan is repaid – not during loan</li>
<li>FHA Insured or Fannie Mae Guaranteed</li>
<li>Flexible payment options</li>
</ul>
</div>. <span style="text-decoration: underline;"><strong>*Your Local Reverse Mortgage Specialist*</strong></span><br /><br />
<div class="h2">Reverse Mortgage Summary</div>
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<ul>
<li>Age minimum 62.</li>
<li>No shared appreciation with lender.</li>
<li>No monthly payment required.</li>
<li>No principal repaid until client cannot permanently occupy property.</li>
<li>Client retains title to property.</li>
<li>When sold profit goes to client or estate,if loss no deficiency.</li>
<li>No restrictions on the use of the money.</li>
<li>Income,Employment,Assets and Credit stated but not used in underwriting.</li>
<li>Credit Report Required for information only.</li>
<li>Non-recourse loan – No additional debt left to heirs.</li>
<li>Available with “Life Estate”.</li>
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