5 New Jumbo Reverse Mortgage Options for 2019

5 New Jumbo Reverse Mortgage Options for 2019. NFM Phased Retirement and Calculating Reverse Mortgages

5 New Jumbo Reverse Mortgage Options for 2019 video duration 4 Minute(s) 17 Second(s), published by The Reverse Advisor on 15 12 2018 - 22:50:13.

Home owners have 5 new jumbo reverse mortgage options for 2019
To find out how much you can get with a reverse mortgage, click Watch Steven speak at the 2018 National Reverse Mortgage Lenders Association Annual Conference in San Diego, CA
Steven spoke to industry leaders, .

Learn more about how a Heartland Reverse Mortgage could help you weather the storms of retirement with Lisa Hatfield the national manager for Heartland Hi, Welcome to the Next For Me Weekly Newsletter for December 12th, 2018
55, Phased Retirement and Calculating Reverse Mortgages Our newsletter Hi, Welcome to the Next For Me Weekly Newsletter for December 12th, 2018
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Home owners have 5 new jumbo reverse mortgage options for 2019. To find out how much you can get with a reverse mortgage, click http://bit.ly/ReverseEvaluation.

In the Spring of 2018, homeowners with considerable equity, and homes worth over $900,000 had one jumbo reverse mortgage choice: a fixed rate loan that required all proceeds be distributed at closing. Many homeowners didn’t want all that cash on day one.

Many new jumbo reverse mortgage options were introduced in the later part of 2018. All offered larger loan amounts, i.e., more cash out. New innovations include a fixed-rate 5-yr delayed disbursement loan, a growing line of credit loan, a jumbo second mortgage without a monthly payment, and a fixed-rate loan for those as young as age 60. Never before have high-net-worth home owners had so many home equity solution choices.

And different rate options across the product spectrum offer homeowners a balance between accessing and preserving house-based wealth. The jumbo reverse is a great option for buying a house without having a monthly mortgage payment. It’s the only solution for a payment-free loan on condos that are not FHA approved.

The top 5 reasons homeowners accessed their wealth with a jumbo reverse mortgage are:
1) Home renovation, remodel, or repairs
2) Purchase vacation home or rental property
3) Help children buy a home
4) Gifting to heirs - early inheritance
5) Help adult children's kids (grandkids) with college

The 2018 average age of a jumbo reverse mortgage borrower was 77 and the average house value was $1.7 million.

To learn more, click my latest blog post at: https://www.thereverseadvisor.com/blog/new-jumbo-reverse-mortgage-options.

Kent Kopen, Certified Reverse Mortgage Professional
(800) 208-1252

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If you qualify and your loan is approved, a HECM Reverse Mortgage pay offs your existing mortgage(s) unless you’ve chosen the new jumbo reverse second mortgage. With a HECM Reverse Mortgage, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). An escrow account will not be established for disbursements of those payments. A set-aside account can be set up to pay taxes and insurance and may be required in some cases. Borrowers must occupy the home as their primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan becomes due and payable when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home, permanently moves out, or defaults on taxes and insurance payments, or does not comply with loan terms. Call 1-800-208-1252 to learn more. A Reverse Mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency. Rates and fees change and restrictions apply. Loan proceeds are paid tax-free; consult your tax advisor. This presentation contains images that were used under a Creative Commons License. Click here to see the full list of images and attributions: https://app.contentsamurai.com/cc/222377. For licensing and disclosures: https://www.thereverseadvisor.com/licensing.

To see how much you can get with a reverse mortgage, go to: http://bit.ly/ReverseEvaluation.