馃攳
Can a Reverse Mortgage Help You? - YouTube
Channel: unknown
[0]
bingo reverse mortgage is a local
[2]
brokerage specializing in reverse
[4]
mortgages a unique loan option that
[6]
helps those 62 years old and older
[9]
utilize their home equity to stretch
[11]
their retirement savings so april perez
[14]
is here with us thank you so much for
[15]
joining us and helping really educate us
[17]
all about what a reverse mortgage is so
[20]
please do educate us april thank you so
[22]
much for having me a reverse mortgage
[25]
also known as a home equity conversion
[26]
mortgage is a federally insured fha
[29]
program designed to help those 62 and
[31]
older access a portion of their equity
[34]
without a monthly mortgage payment they
[35]
can actually eliminate their existing
[38]
mortgage and free up discretionary
[40]
income wow so how do people use a
[42]
reverse mortgage there's all kinds of
[44]
ways that somebody can use a reverse
[46]
mortgage but the most common ways that
[48]
we see are to boost the retirement
[50]
income to eliminate a monthly mortgage
[53]
payment to put cash in the bank and
[55]
overall just financial peace of mind
[58]
older americans are actually concerned
[60]
about outliving their money they're
[62]
healthy they're living longer and
[64]
they're worried they haven't saved
[65]
enough for retirement a
[67]
the baby boomers actually are the first
[69]
generation to have to fund their own
[71]
retirement so there is that fear of
[73]
running out of money yeah i understand
[74]
that i mean that makes perfect sense and
[76]
i've actually heard uh many older people
[78]
say that it's like i don't know if i
[79]
have enough i'm gonna you know outlive
[81]
my money right specifically so how how
[84]
can they increase their odds of not
[86]
running out of money well there's three
[88]
buckets that people usually draw money
[89]
from you have income assets and home
[92]
equity the thing about home equity is
[95]
that
[96]
it's usually the biggest part of
[97]
somebody's net worth but it's locked up
[100]
you can't access it and it's not earning
[102]
zero interest with a reverse mortgage
[104]
you're actually able to earn interest on
[107]
your home's equity and access it without
[109]
having to sell your home i also want to
[111]
mention that the funds from a reverse
[113]
mortgage are tax-free because loans
[115]
aren't taxed so you get to live in the
[117]
comfort of your own home and let's face
[119]
it right now our homes are a safe place
[121]
absolutely um and so
[124]
so i mean i appreciate all this
[125]
education because so really there are a
[127]
lot of differences between a traditional
[130]
like equity loan and a reverse mortgage
[132]
loan oh absolutely so with a traditional
[135]
home equity loan you have you know
[138]
they're usually for a set period of time
[140]
you make monthly payments and they're
[142]
usually for a set amount of money
[143]
compare that to a reverse mortgage
[146]
that's set up for the rest of your life
[148]
there's no monthly payment and the line
[150]
of credit could actually increase over
[152]
the life of the loan
[154]
so with
[155]
somebody who is in their retirement
[157]
years they're on a fixed income saddling
[159]
them with a new monthly payment is not
[161]
what they're looking for
[163]
a reverse mortgage allows them to unlock
[165]
the wealth in their home with no monthly
[167]
payment now it is important to note that
[169]
you still need to maintain the property
[171]
pay property taxes and insurance and any
[174]
hoa fees but as long as you live in the
[176]
home you get to stay in it and live
[177]
independently wow that is incredible and
[180]
it does seem like you know we keep
[181]
hearing about the the record high home
[183]
values the equity just keeps building
[185]
building coupled with historically low
[188]
interest rates and even though those
[190]
interest rates have been creeping up
[191]
they're still
[193]
pretty low so it seems like is this
[195]
still just a great job in a time to
[197]
capitalize on doing a reverse mortgage
[199]
absolutely it's extremely important for
[201]
me to mention that a reverse mortgage is
[204]
not for everyone but if it is for you
[206]
the best time to to shop for a reverse
[209]
mortgage is when interest rates are low
[212]
and home values are high and unless
[214]
you've been living under iraq inflation
[216]
is on the rise and interest rates will
[219]
follow yeah well it sounds like you know
[221]
you really love explaining this and
[223]
educating people so you encourage people
[225]
to pick up the phone and call you and
[227]
kind of talk through this right oh
[228]
absolutely um so
[231]
we're local we offer consultations over
[233]
the phone or in person whichever you're
[235]
most comfortable with
[237]
just to get to know you make sure it's a
[238]
good fit it's very important to us that
[241]
we make sure that this program is going
[242]
to meet
[243]
your
[244]
goals and objectives
[246]
process is super simple
[248]
you
[249]
give us a call we get some basic
[251]
information and then we walk hand in
[253]
hand with you throughout the process and
[255]
with low interest rates and our special
[257]
offer of 500 off closing costs the only
[260]
question you're going to have is why
[261]
didn't you call us sooner oh you're like
[262]
pick up that phone right now thank you
[264]
so much april we do appreciate it you
[266]
know we always love learning more about
[268]
this and and like you said it's not for
[270]
everybody but it can sure help a lot of
[272]
people out there so thank you so much
[274]
for being here thank you and you know
[275]
just it's a great service they provide
[277]
for so many of colorado's older
[279]
homeowners really guiding them through a
[281]
more secure future uh really great to
[284]
know that you know you've got their
[285]
interest at heart so for more
[287]
information everybody just please check
[289]
out bingo reversemortgage.com you can
[291]
also call april and her team 720-541-5
[297]
once again
[300]
720-541-5545 call now be sure to tell
[303]
them you saw them on colorado's best and
[304]
get that 500 discount on the loan
[307]
closing costs
[313]
o
Most Recent Videos:
You can go back to the homepage right here: Homepage