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Reverse Mortgages

Reverse Mortgages. What is a reverse mortgage?. Traditional ways to receive cash from your home:. How is a Reverse Mortgage Different?. You can receive the cash from your home in several ways:. When DO you pay back the loan? Typically, only when you:.

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Reverse Mortgages

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  1. Reverse Mortgages

  2. What is a reverse mortgage?

  3. Traditional ways to receive cash from your home:

  4. How is a Reverse Mortgage Different?

  5. You can receive the cash from your home in several ways:

  6. When DO you pay back the loan? Typically, only when you:

  7. How does a reverse mortgage work?

  8. “Equity” is the $ value of your home that YOU own (as opposed to a lender)

  9. Example of traditional “forward mortgages”:

  10. Example of “A Reverse Mortgage”:

  11. However there are exceptions to debt increasing and equity decreasing:

  12. Who can qualify for a reverse mortgage?

  13. Who can qualify for a reverse mortgage?

  14. To qualify, you must pay off your existing mortgage. You can do this by:

  15. How much can I qualify for?

  16. How much can I qualify for?

  17. How much can I qualify for?

  18. How much total cash will I receive?

  19. How much total cash will I receive?

  20. How much total cash will I receive?

  21. How much total cash will I receive?

  22. When do I pay it back?

  23. Lenders can also require repayment if you:

  24. A reverse mortgage can also contain an “acceleration clause,” which makes it payable in full if you jeopardize the security of the lender in some way. For instance:

  25. How much will I owe?

  26. You will never owe more than the value of the home when the loan is repaid

  27. No matter how long you live, no matter how much your home value declines

  28. How is it paid back?

  29. What does a reverse mortgage cost?

  30. Other costs for a reverse mortgage:

  31. Important information regarding the costs of the loan:

  32. Remember you are still a homeowner and still responsible for:

  33. Are there different types of reverse mortgages?

  34. About the HECM

  35. HECM is usually the lowest cost reverse mortgage available.

  36. Is a reverse mortgage right for you?

  37. Thank you!

  38. Real Estate Marketing Strategies You have just viewed a demo of the Reverse Mortgage PowerPoint presentation from In Touch Today Purchase the full version of this and other presentations personalized with your information and logo at http://www.intouchtoday.net/realestate/repowerpoint.asp

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