Retire in a home that's right for you!
A reverse mortgage is a way to turn the equity in your home into tax-free* cash without having to make monthly
mortgage payments. Instead of monthly payments, the loan is repaid in one lump sum when the last borrower leaves
the home. As part of the loan, the borrower is required to continue paying property taxes and insurance and maintain
the home.
Here are the three basics of reverse mortgages that you should know:
1. Receive Tax Free* Money from Your Home Equity
A reverse mortgage can be a nancial tool** to turn equity in your home into cash that can be used for many different purposes that may enhance and extend your retirement plan. If you currently have a mortgage, a reverse mortgage
could eliminate your current monthly payment, and also allow you to access any additional equity (over and above
your mortgage balance) to create accessible cash which is not readily available while in the form of home equity. You
have spent many years putting your money into your home equity and now with a reverse mortgage, you may be able
to convert that equity in to tax-free cash.
*The cash from equity is usually tax free. The information in this advertisement does not constitute tax advice.
**The information in this advertisement does not constitute tax advice or nancial planning advice. Please consult a tax advisor for tax advice and a nancial
planner regarding enhancements to retirement plans.
2. Eliminate your Monthly Mortgage Payment
Most reverse mortgages are insured by the Federal Housing Administration (FHA) and are called Home Equity Con1: 999-999-9999
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3. Never Owe More Than What the Home is Worth
When you permanently move out of your home, whether you sell it or pass away, neither your estate nor your heirs
are responsible to pay the decit if the balance owed on your reverse mortgage exceeds the home value. However,
should your heirs want to keep your home, they may purchase it for 95% of the current appraised value.
Contact me today to learn more about how a reverse mortgage can help you!
LOUIS VOGTMAN
Loan Ofcer
NMLS #1313424
Mobile 281-507-8798
eFax 866-373-9328
307 Lake Rd
Belton, TX 76513
louisv@[Link]
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Copyright2016 Fairway Independent Mortgage Corporation (Fairway) NMLS#2289. 4801 S. Biltmore Lane, Madison, WI 53718, 1-877-699-0353. All rights reserved. Fairway is not afliated 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 certicate by receiving
counseling sessions with a HUD-approved agency. To qualify for a reverse mortgage loan, the youngest borrower must be at least 62 years old. Loan proceeds are not considered income and will not affect
Social Security or Medicare benets. Your monthly reverse mortgage advances may affect your eligibility for some other programs. Consult a local program ofce or your attorney to determine how, or if,
monthly reverse mortgage payments might affect your specic situation. Owners are still responsible for property taxes, insurance, and maintenance. 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. TX License Number 1313424.
Phone 1: 999-999-9999