Why Seniors Are Feeling the Crunch and Why They Are Turning to Reverse Mortgage in Droves!


Why Seniors Are Feeling the Crunch and Why They Are Turning to Reverse Mortgage in Droves!
By [http://ezinearticles.com/?expert=Tim_G_Robbins]Tim G Robbins

The home that they spent many years to pay off and maintain as their haven is now the one investment that they still have to use for life. Even though many homes throughout the country to loss value over the last few years, they can still be a great source of money and security in these troubled economic times. If you had purchased your home say 30 years ago and did not over burden yourself with refinances and cash out loans you are still sitting on a great stock pile of money.

You love your home you feel safe and secure in your home and which to stay there for the rest of your life and the thought of moving to a strange place and having to start all over again meeting new people then think about what you would do if you had the money to stay at home.

What if you could use a Reverse Mortgage to not only stay in your home for the rest of your life without ever having to make a mortgage payment, and still have an investment building over time. The RM is the only mortgage in the entire world that can accomplish this for you in many different ways, at and the same time you are in complete control of your finances.

In the world of finances especially today you need to have access to cash because to in these uncertain times CASH IS KING…… In having no payments for yourself for the rest of your life and having the option at anytime to draw out money for the things you want or need is critical to surviving into the future.

Now within the Reverse Mortgage you have many options available to you and the best part they can be changed as your situation changes meaning flexibility to meet future changes you are not able to plan for in the future. If take the time to sit with a try professional who understands how the different plans work and can lay out different options that show you how planning within the Reverse Mortgage can give a great sense of security that is not false by no means.

Within the Reverse Mortgage you can choose many different programs from using interest indexes to what margins will be used to determine the money that is available to you in the future or today. Some of the options enable you to take all of the cash at one time and have a fixed interest rate for the rest of your live, while others give the option of receiving cash up front and creating a cash equity account that will grow over time and build a comfortable growth account for future needs. The good thing with the Reverse Mortgage is all about OPTIONS and FLEXIBILITY you do not receive this with any other program.

There are so many choices that you can design for you specific needs and goals and at anytime you can change them again. As long as you have the funds available there is no limit to how you can receive funds over and over again. The fears of the Reverse Mortgage are rumors at best and simply because most people listen to uninformed or uneducated people who heard a story somewhere and then it was changed over time. Remember the story of sitting 10 people in a circle and telling the first person a story and then each person tells the story to the person next to them and by the time it gets to the 10 person the story is not what is started out to be. Well this is what has happened in the   rel=nofollow Reverse Mortgage industry, the story has changed over and over again.

The Best Myth

I really like this one because it shows how ignorant people can really be when they listen to uninformed people telling stories.

I heard this story when speaking to a person who was considering if a Reverse Mortgage would wok for them it goes like this.

I was told by a friend of mine that they heard that there was a woman who took out a Reverse Mortgage and when she did it she not only lost all of here money but she also lost her home and had to live on the street. How ridicules’ does this one sound to you?

First thing to questions is how did she loose her money did she drop it or did she take all of the money in cash and go to a casino and place it down of BLACK for spin of the wheel. Simply because if she had taken all of the money and even if she did this the mortgage did not cause her to loose the money. In addition to that she would not have lost her home there are only a few ways that someone could ever not be able to stay in their home for the rest of their life.

If they stop paying the taxes on the home!

If they did not keep their homeowners insurance in force!

If the failed to maintain the home!

If they did not keep the home as their primary residence!

These are the only reason that anyone would have to pay back the loan balance of a Reverse Mortgage. With any of the above reason they would have to sell the home the bank would not and could not take the home with out due cause.

So if you want to know the truth about a Reverse Mortgage stop listening to stories and rumors and get the facts from and expert who can guide you through the entire details and give you all of the positives and the few negatives the do exists.

Is a Reverse Mortgage for every person the answer is NO this is not a vehicle for short term money it is a mortgage for life or at least 5-10 years, this way the cost that are associated with the mortgage can be recouped over time. Remember what ever the cost are if you are going to live in your home for the rest of your years then you do not have to worry about the cost, neither do your heirs they are not responsible to pay it back it will be paid from the proceeds of the sale of your home after you are gone.

Tim Robbins,Sr is a senior Reverse Mortgage Specialist with Equitable Reverse Mortgage. The main goal is to provide the best education resources available and to all place the seniors first and foremost. My website is designed to give you all available information which you can review either in print or video by visiting http://bestmortgageplans.com for all you senior resource you may also contact me Toll free at 800-610-3599 for a Free Report on Reverse Mortgages

Article Source: http://EzineArticles.com/?expert=Tim_G_Robbins [http://ezinearticles.com/?Why-Seniors-Are-Feeling-the-Crunch-and-Why-They-Are-Turning-to-Reverse-Mortgage-in-Droves!&id=2137833 ]http://EzineArticles.com/?Why-Seniors-Are-Feeling-the-Crunch-and-Why-They-Are-Turning-to-Reverse-Mortgage-in-Droves!&id=2137833

About Tim Robbins

As a Professional I have been in the Marketing business for over 40 years, I mainly focus on the service to Business Owners and Company support. "Dedicated and committed to improving the Marketing of Businesses today" With Technology only ever dream of that will drive more business to your business. We are online,live and Monetized and mobilized and app up and we guarantee what we do. No If or Buts

Posted on December 5, 2009, in credit, Family, Florida, Health and Family, Identity Theft, indentity theft, Medicare, New Jersey, reverse Mortgage, Social Security, Uncategorized, United States. Bookmark the permalink. Leave a comment.

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