Could a Reverse Mortgage Help Your Client?
As a financial adviser you know the finances of your clients better than anyone. You also know how long they can sustain their current standard of living, when they can retire and if they have the assets to do so.
A reverse mortgage taken at a younger age could be an important solution for shoring up a potential retirement shortfall. As an example, a reverse line of credit has a dynamic feature that automatically increases the available credit line over time and provides more funds to your client in the future. An illustration can be provided upon request.
If your client is over the age of 62, is mortgage free or has equity in their home and they currently reside in the property, they may qualify for a reverse mortgage.
A reverse mortgage will allow them to access some of the equity in their home by receiving a lump sum, monthly payment, line of credit or a combination of these three payment options. The loan will only come due when the last borrower sells the home, leaves the property, or passes away.
If you feel your client could benefit from a reverse mortgage, we would be happy to discuss the options with you and your client.
For more information about reverse mortgages, please fill out the brief form below or call 800-409-0999 to speak with a reverse mortgage specialist today.