Title:
Understanding reverse : answers to common questions : simplifying the new reverse mortgage / Dan Hultquist.
ISBN:
9781791766320
Personal Author:
Publication Information:
[Canton, Georgia] : [Dan Hultquist], [2019]
Physical Description:
viii, 122 pages : illustrations ; 23 cm
Contents:
What is a reverse mortgage? -- What are common uses for reverse mortgages? -- When is a reverse mortgage not a good option? -- What are the key eligibility requirements? -- What are the mandatory obligations? -- What are initial disbursement limits? -- What is lien seasoning? -- What is a non-recourse loan? -- What maturity events cause the loan to be due? -- How is the principal limit calculated? -- What happens to the home after death? -- What are the homeowner's obligations? -- What is financial assessment? -- What is a life-expectancy set-aside? -- What are the product options? -- What should I know about fixed rates? -- What should I know about adjustable rates? -- What is the purpose of an expected rate? -- How do I lock my interest rate? -- What are the payout options? -- Are reverse mortgages expensive? -- What do reverse mortgages cost? -- Why is counseling required? -- What is a mortgage insurance premium? -- What if a spouse is not 62 or older? -- What is an eligible and ineligible NBS? -- What is so special about the line of credit? -- How does the line of credit grow? -- What if the home needs repairs? -- What is a HECM-to-HECM refinance? -- What are the basics of HECM financial planning? -- Aren't reverse mortgages for the desperate? -- What are the advantages of making payments? -- What is HECM for purchase? -- How will a HECM affect my taxes? -- Will a reverse mortgage affect my government benefits? -- How much equity is needed to qualify? -- Does home equity decrease with a HECM? -- Why not wait until I need a reverse mortgage? -- Who is the ideal reverse mortgage candidate? -- What are advanced financial planning options? -- What are proprietary reverse mortgages? -- What should I expect during servicing? -- What are some helpful hints and red flags? -- What are the next steps?
Summary:
What is reverse mortgage? Is it more than a loan program for those who are "house-rich, but cash poor?" How does the "non-recourse feature" protect homeowners and their heirs? Can the available line of credit and its growth rate be used for insurance and financial planning purposes? This book answers these questions and many more in a user-friendly way, and is the most comprehensive educational tool available on reverse mortgages. It should be read by baby boomers, retirees, heirs, financial planners, housing counselors, HECM counselors, Realtors®, brokers, financial journalists, mortgage professionals, estate planners, and of course all homeowners who want greater assurance that they can comfortably grow older in their own homes. -- back cover.
OCLC Number:
on1090088978
Availability:
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