Details for AdRevenews/Gatehouse Media LLC. 146-1000630 - Ad from 2019-07-11

PAIDADVERTISEMENT

Why Haven’t Senior
Homeowners Been
Told These Facts?
Keep reading if you own a home in
the U.S. and were born before 1957.

It’s a well-known fact that for
many senior citizens in the U.S.
their home is their single biggest
asset, often accounting for more
than 50% of their total net worth.
Yet, according to new statistics
from the mortgage industry, senior
homeowners in the U.S. are now
sitting on more than 6.9 trillion
dollars* of unused home equity.
With people now living longer
than ever before and home prices
back up again, ignoring this
“hidden wealth” may prove to be
short sighted.
All things considered, it’s
not surprising that more than a
million homeowners have already
used a government-insured Home

they need to enjoy retirement.
Although today’s HECM loans
have been improved to provide
even greater financial protection
for homeowners, there are still
many misconceptions.
For example, a lot of people
mistakenly believe the home must
be paid off in full in order to
qualify for a HECM loan, which
is not the case. In fact, one key
advantage of a HECM is that
the proceeds will first be used to
pay off any existing liens on the
property, which frees up cash flow,
a huge blessing for seniors living
on a fixed income. Unfortunately,
many senior homeowners who
might be better off with HECM
loan don’t even bother
to get more information
because of rumors
they’ve heard.
That’s a shame
because HECM

Equity
Our new Reverse Mortgage infomation guides & DVD are now available
Conversion
featuring award-winnng actor and paid AAG spokesman, Tom Selleck
Mortgage or
“HECM” loan to turn their
loans are helping many senior
home equity into extra cash for
homeowners live a better life.
retirement.
In fact, a recent survey by
However, today, there are still
American Advisors Group
millions of eligible homeowners
(AAG), the nation’s number one
who could benefit from this
HECM lender, found that over
FHA- insured loan but may
97% of their clients are satisfied
simply not be aware of this
with their loans. While these
“retirement secret.”
special loans are not for everyone,
Some homeowners think
they can be a real lifesaver for
HECM loans sound “too good
senior homeowners.
to be true.” After all, you get the
The cash from a HECM loan
cash you need out of your home
can be used for any purpose. Many
but you have no more monthly
people use the money to save on
mortgage payments.
interest charges by paying off
credit cards or other high-interest
Request a FREE Info Kit
loans. Other common uses include
making home improvements,
& DVD Today!
paying off medical bills or helping
Call 1-866-221-8918 now.
other family members. Some
people simply need the extra
It’s a fact: no monthly mortgage cash for everyday expenses while
payments are required with a
others are now using it as a “safety
government-insured HECM
net”for financial emergencies.
loan; however the homeowners
If you’re a homeowner age 62
are still responsible for paying for
or older, you owe it to yourself to
the maintenance of their home,
learn more so that you can make
property taxes, homeowner’s
an informed decision.
insurance and, if required, their
You may be pleasantly surprised
HOA fees.
by what you discover when you
Another fact many are not
call AAG for more information
aware of is that HECM reverse
today.
mortgages first took hold when
President Reagan signed the FHA
Homeowners who are
Reverse Mortgage Bill into law 31
interested in learning more
years ago in order to help senior
can
request a FREE 2019 Reverse
citizens remain in their homes.
Mortgage Information Kit and
Today, HECM loans are simply
DVD by calling toll-free at
an effective way for homeowners
1-866-221-8918
62 and older to get the extra cash
*Source:https://www.mpamag.com/market-update/senior-home-equity-has-grown-to-6-9-trillion-112295.aspx
A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). AAG
works with other lenders and fnancial institutions that offer reverse mortgages. To process your request for a reverse mortgage, AAG
may forward your contact information to such lenders for your consideration of reverse mortgage programs that they offer
Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home, paying property
taxes and homeowners insurance. Although these costs may be substantial, AAG does not establish an escrow account for
these payments. However, a set-aside account can be set up for taxes and insurance, and in some cases may be required. Not
all interest on a reverse mortgage is tax-deductible and to the extent that it is, such deduction is not available until the loan is
partially or fully repaid
AAG charges an origination fee, mortgage insurance premium (where required by HUD), closing costs and servicing fees, rolled
into the balance of the loan. AAG charges interest on the balance, which grows over time. When the last borrower or eligible nonborrowing spouse dies, sells the home, permanently moves out, or fails to comply with the loan terms, the loan becomes due and
payable (and the property may become subject to foreclosure). When this happens, some or all of the equity in the property no
longer belongs to the borrowers, who may need to sell the home or otherwise repay the loan balance.V2019.04.17
NMLS# 9392 (www.nmlsconsumeraccess.org). American Advisors Group (AAG) is headquartered at 3800 W.
Chapman Ave., 3rd & 7th Floors, Orange CA, 92868.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.

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