What is the Truth About Reverse Mortgages?

What is a Reverse Mortgage? How is a reverse mortgage different from other mortgages? How does a reverse mortgage work? Are reverse mortgages a scam? Does the "bank get your house in the end?" All these questions and most of the fear and negativity surrounding reverse mortgages stem from a fundamental misunderstanding of the instrument. Starting April 2, 2024, I'll start telling The Truth About Reverse Mortgages because I believe the modern reverse mortgage is one of the most underutilized and powerful financial tools in the retirement income toolbox. Come with me on this educational journey so you can make a sound decision based on the Truth About Reverse.

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🤔Questions about HECM Reverse Mortgages?🤠
Brian McRae - Retirement Mortgage Specialist
Fairway Independent Mortgage
NMLS ID# 2214972
📱 Call or Text: 512-584-9766
📨 Email: [email protected]
📅 website: https://shoalcreekreverse.com/
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#hecm #homeequity #reversemortgage #retirementincomeplanning #retirementplanning #aginginplace #whatisareversemortgage
00:00 Introduction
00:23 Title
00:34 What is The Truth About Reverse?
01:05 Join Me April 2

-- Disclaimer --
This advertisement does not constitute tax or financial advice. Please consult a tax and/or financial advisor regarding your specific situation. Copyright©2024 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. Youngest borrower must be at least 62 years old. Your monthly reverse mortgage advances may affect your eligibility for some other programs. At the conclusion of the term of the reverse mortgage loan contract, some or all of the equity in the property that is the subject of the reverse mortgage no longer belongs to you and you may need to sell or transfer the property to repay the proceeds of the reverse mortgage with interest from your assets. We will charge an origination fee, a mortgage insurance premium, costs or servicing fees for the reverse mortgage, all or any of which we will add to the balance of the reverse of the reverse mortgage loan. The balance of the reverse mortgage loan grows over time and interest will be charged on the outstanding loan balance. You retain title to the property that is the subject of the reverse mortgage until you sell or transfer the property and you are therefore responsible for paying property taxes, insurance, and maintenance and related taxes. Failing to pay these amounts may cause the reverse mortgage loan to become due immediately and may subject the property to a tax lien or other encumbrance or to possible foreclosure. Interest on reverse mortgage is not deductible to your income tax return until you repay all or part of the reverse mortgage loan. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply. Fairway is required to provide the following licensing information: AZ License #BK-0904162. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act, License No 41DBO-78367. Licensed by the Department of Financial Protection and Innovation under California Financing Law, NMLS #2289. Loans made or arranged pursuant to a California Residential Mortgage Lending Act License. Georgia Residential Mortgage Licensee #21158. For licensing information, go to www.nmlsconsumeraccess.org. MA Mortgage Broker and Lender License #MC2289. Licensed Nevada Mortgage Lender. Licensed by the NJ Department of Banking and Insurance. Licensed Mortgage Broker - N.Y.S. Department of Financial Services. Rhode Island Licensed Broker & Lender. Fairway Independent Mortgage Corporation NMLS Entity ID #2289 (http://nmlsconsumeraccess.org/EntityDetails.aspx/company/2289).

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