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The New Reverse Mortgage Formula: How to Convert Home Equity Into Tax-Free Income
 
 
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The New Reverse Mortgage Formula: How to Convert Home Equity Into Tax-Free Income [Englisch] [Taschenbuch]

Tom Kelly

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Kurzbeschreibung

The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax--free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today's reverse mortgages are non--recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.

Synopsis

"The New Reverse Mortgage Formula" explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today's reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.

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Einleitungssatz
This chapter will explore why a significant percentage of older homeowners, plus their children-the 75 million baby boomers who are now asking financial and lifestyle questions for their parents-will consider a reverse mortgage as a viable opportunity in their life. Lesen Sie die erste Seite
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14 von 17 Kunden fanden die folgende Rezension hilfreich
"MUST READ" for Anyone Considering a REVERSE MORTGAGE! 5. März 2005
Von K. Hawkins - Veröffentlicht auf Amazon.com
Format:Taschenbuch
Think about it: tens of thousands of seniors are house rich and cash poor: they have all this equity locked up in their homes. Most people don't realize that they can't even qualify for a home equity loan -- not enough income or assets. TOM KELLY's new book HAS THE ANSWER FOR THE PARENTS OF BABY BOOMERS WITH THIS NEW BOOK! The dangers of the first REVERSE MORTGAGES ARE GONE: no one will EVER lose their home because of a reverse mortgage. THIS IS THE SOLUTION to allow MOM OR DAD to stay in the homes they love until their final days. They can cash in on the equity in their home and either have it available in a lump sum to draw down or get a steady stream of monthly income -- TAX FREE! Where I live many seniors are giving up their waterfront homes that they have lived in for 30 years or more because they can't afford the real estate taxes. THIS IS A GREAT BOOK, EASY TO READ AND TO UNDERSTAND - IT IS TODAY'S REVERSE MORTGAGE MADE EASY. Mr. Kelly lays it out honestly and directly and pulls no punches. Sure Reverse Mortgages can cost $10,000-$15,000 in closing costs -- but what would it cost your Mom or Dad to sell the home they love, move and buy a new one? A heck of a lot more! KUDOS FOR TOM KELLY on an ABSOLUTE MUST READ for anyone who is considering or helping someone consider a REVERSE MORTGAGE.
5 von 5 Kunden fanden die folgende Rezension hilfreich
If you're a senior or know a senior you should read this book! 6. Juni 2006
Von Curtis Dady - Veröffentlicht auf Amazon.com
Format:Taschenbuch
Putting the emphasis on "THE NEW" REVERSE MORTGAGE Mr. Kelly provides a comprehensive review of this valuable financial tool available to seniors. He lays out the cost and compares the options, dispelling the fears and myths that it is "too expensive". While pointing out that it may not be the best option for some, there are many seniors and mortgage professionals who can benefit from this information. There is a lot of misinformation and misunderstanding in the press and in the marketplace about this program. This book will help to set the record straight. With this good information seniors and their adult children can discover that they have more options and can make better choices. The New Reverse Mortgage programs now make it possible for seniors to stay in their homes long term while enjoying tax free income with no fear of foreclosure. If you are a senior or have parents who are seniors you should get this book and read it carefully to explore your options.
4 von 4 Kunden fanden die folgende Rezension hilfreich
not a quality reference on the topic 4. Dezember 2006
Von Tom Metro - Veröffentlicht auf Amazon.com
Format:Taschenbuch|Von Amazon bestätigter Kauf
The only thing good about this book is that at one time it was the only book available on reverse mortgages. That is no longer the case. While I haven't sampled the other titles to say how they compare, I can say that you'll find better quality information freely available on the net.

Among the flaws of this book:

It dedicates about 3 chapters (see the table of contents) to discussing what you can do with your money after you've obtained a reverse mortgage. As there are no real restrictions on how that money can be spent, these are useless, arbitrary chapters that would be far better covered in a book on how to spend your retirement.

The few interesting facts the book does introduce (such as the possibility of reducing fees if the mortgage proceeds are applied to long-term care insurance) are not backed up with references, or - as it turns out - explained as being proposed legislation that may never become reality.

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