​Reversing PA Mortgage, LLC

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P.S. Today more seniors/older adults have a difficult time meeting Fannie Mae Guidelines, credit scores, and income qualifications in order to qualify for a bank loan/mortgage. With a reverse mortgage, credit scores and debt-to-income (DTI) are not a consideration. Let me show you just how easy it is.

P.S.S.- Some people have the belief that a reverse mortgage is a loan of last resort. This is WRONG. This way of thinking can rob seniors/older adults of years of financial wellness. People are living longer, but not increasing the accumulated wealth needed to support a longer life of retirement.

More aging Americans today may find they don't have the proper financial security that they had hoped for, either due to not saving enough or carrying significant debt into what should be their retirement years. Some may also have less-than-expected investable assets or a lower-than-expected income. And many aging baby boomers want to "right-size" their home.

With this in mind, individuals should consider a Reverse Mortgage/Reverse Purchase Mortgage as part of their overall financial planning strategy.

​​​​​               "Reverse mortgages help remove the uncertainty around paying for increasingly long retirements"

Nearly 8000 people turn 65 every day and this number is growing. 90% of these seniors/older adults, if given the choice would prefer to stay at home in comfortable, familiar surroundings as they age. The cost of an assisted living facility is about $60,000 to $80,000 per year,

having care provided at home averages $40,000 to $60,000 per year.

1. Today more seniors/older adults have a difficult time meeting Fannie Mae guidelines, income qualifications in order to qualify for a bank loan/mortgage.

2. There are no monthly principal and interest mortgage payments with a reverse mortgage. Your responsibility is to pay property taxes, and insurance, live in the home as your primary residence, and maintain the home in good condition.

3. Avoid those unexpected expenses/rising costs. ( medical expenses, home healthcare, prescription drugs, nursing, etc.)

4. The reverse purchase program allows seniors/older adults to purchase a more expensive home without incurring a monthly mortgage payment. Jumbo loan amounts available up to $ 4 Million.  ( Hold onto your cash)

5. BONUS- unlike stocks, real estate, and other appreciating investments, when you do finally tap into your reverse mortgage to access funds, you do not pay income tax or capital gains on your upside. Why? Because a reverse mortgage is not an investment. There is no line item on your federal income tax form. ( Monies are tax-free)*

6. Home value growth is not guaranteed. Homeownership after 2008 is different than times in the past.

7. AARP- 90% of people want to remain in the comfort of their homes.

8. You can use the money to avoid removing the principal from your existing investments.

9. Have a plan in place, be ready in case of a financial emergency. Don't wait for a crisis.

10. Do what's best for you!!!

*Consult a tax professional