By Alain Valles, MBA, MS
781-724-6221
One of the oldest economic quips is — “a recession is when you lose your job, and a depression is when I lose mine.” But what about if you are a senior with no job, trying to live off of social security, maybe a small pension, and limited savings. That compounded with the highest inflation rates in 40 years and threats of more interest rate increases can lead to more than just depression. In fact, it can lead to the toughest financial choices of home, health, food, and peace of mind.
If you are 62 years old or older and fortunate to own a home with some equity, then a government insured reverse mortgage may be the solution to not only withstanding the upcoming recession and potential downturn in real estate values but actually improving your quality of life.
A Reverse Mortgage gives a qualified borrower the option to receive tax free cash up front, or a monthly check, or a line of credit to access cash when desired with NO minimum or required monthly mortgage payment.*
Top Use of a Reverse Mortgage
- Be able to afford your home
- Increase your monthly cash flow
- Pay off a current mortgage
- Pay off credit cards
- Access to tax free cash
- Complete needed home repairs
- Reserves for unforeseen emergency life events
- Estate planning to protect a surviving spouse
- Downsize and purchase a new home
- Peace of mind knowing that cash is available if needed • And, the list goes on! What are your needs and desires?
*Note – You are required to pay ongoing real estate taxes and property insurance and meet other loan guidelines.
Take Action!
A great place to start is get your free “How to Use Your Home to Stay at Home” 36-page book. This is the official reverse mortgage consumer booklet approved by the U.S. Department of Housing & Urban Development and published by the National Council on Aging.
To receive your free copy, please call me at (781) 724-6221 or email me at av@powhse.com.
I am also available to evaluate your specific situation, answer your questions, and calculate how much money is available to you.
Alain Valles was the first designated Certified Reverse Mortgage Professional in New England. He obtained a Master of Science from the M.I.T. Center for Real Estate, an MBA from the Wharton School, and graduated summa cum laude from UMass Amherst. He is the senior reverse mortgage loan officer MLO#7946 at Powerhouse Funding Corp. NMLS #1740551. He can arrange but does not make loans. Alain can be reached directly at (781) 724-6221 or by email at av@powhse.com.
