HOUSE RICH AND CASH POOR? Reverse Mortgages help Seniors survive!
HOUSE RICH AND CASH POOR? Reverse Mortgages help Seniors survive!
NEED MORE MONEY? RETIREMENT CUTTING YOU SHORT?
TAKE THAT VACATION YOU'VE ALWAYS WANTED! PAY MEDICAL BILLS, CREDIT CARDS, BUY AN R.V. OR JUST PUT IN THE BANK IN CASE OF AN EMERGENCY Until recently, many senior citizens faced with financial difficulties may have had to sell their homes in order to make ends meet.  Finally, Home First Financial is offering Reverse Mortgages in this area.
	There is no monthly payment to make There are no restrictions on the use of the funds, and the proceeds are tax free. The homeowner continues to live in and own the home exclusively. The interest is only accruing in the home after repayment of the loan remains in the borrower’s estate for the heirs. There are no income or other bank-type qualifying requirements. The line of credit can be called upon for any future need. The loan will not affect any possible future qualification for additional social security or other benefit programs.
What is a Federally-Insured Senior Income Reverse Mortgage? Senior Income can provide tax-free, government-guaranteed monthly retirement income or growing cash reserves, with no repayment for the seniors lifetime in his home.   Backed by the U.S. government and Fannie Mae, this financial instrument lets older people remain in their homes for life with full ownership rights, while safely converting some of their home value into ready money for any need.  The lender does not "get" the home when the loan is due.  Neither the borrower nor the heirs have any personal liability for repayment of the loan. Example:  Federally-Insured Senior Income for the owners of a $100,000 home. Age of Youngest Home Owner Monthly Check for 10 years Monthly Check for life in Home Initial Cash Reserves Available Untouched Reserves 10 years later 65 $400 $240 $32,760 $74,610