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STAY OFF THE FENCE!

Keep Moving Forward

 

Now may be the right time for you to finally act on getting a reverse mortgage to help you enjoy more of life.

 

The U.S. Department of Housing & Urban Development just announced new changes to the reverse mortgage program that will reduce the amount of funds available to most borrowers and increase the costs of this popular program designed as a safe and secure financial tool for those 62+.

What this means to you:

Here is an example of how the new changes may affect you if you wait.

  • Receive: $147,000
  • Receive: $118,800

ASSUMPTIONS

Borrower Age: 62 Year Old

Home Value: $300,000

Expected Rate: 5.25%

What the media and experts are saying

  • “The average amount of cash that a senior can access will decline from about 64% of the home’s value to 58% based on current rates...”

    -The Wall Street Journal
    8/30/2017
  • “Mortgage Insurance premiums on Home Equity Conversion Mortgages will rise from 0.5% to 2.0% of the maximum claim amount at the time of origination.”

    -Alex Spanko-Reverse Mortgage Daily
    8/29/17
  • These changes diminish the benefit (amount of loan proceeds) available and increase the costs (increased upfront mortgage insurance premium) to most borrowers.”

    -Peter Bell
    National Reverse Mortgage Lenders Association
  • At current rates, principle limits will run about 20% lower for borrowers between the ages of 62 and 80, according to analysis...”

    -Jerry Wagner
    Ibis Software Corporation

Why act now?

Time is running out before the new guidelines take affect. If you are considering a reverse mortgage now is not the time to sit on the fence!

CALL US AT

 

1-888-639-4950

We are here to help ensure you maximize the amount of money you can receive and meet critical deadlines.

 

Deadline for applications to qualify is 10/1/17.  Please note, due to processing time we HIGHLY recommend you begin the process 2-3 weeks prior to cutoff.

What makes us different?

Senior Security Advisors, a lending area of United Northern Mortgage Bankers, Ltd., trusted to help seniors since 1979.

Our mission is to educate our clients on their Reverse Mortgage options so that they can make an informed decision…