You’ve worked hard all your life. Now let your home work for you!
By Alain Valles, MBA, MS
781-724-6221
A reverse mortgage gives qualified borrowers the option to receive cash as a lump sum, a monthly check, or a line of credit with NO minimum required monthly mortgage payments. The homeowner is, of course, required to pay ongoing real estate taxes, insurance and meet other loan guidelines. By not having a monthly mortgage payment, thousands of eligible homeowners have utilized a reverse mortgage to:
- Increase monthly cash flow
- Pay off a current mortgage or home equity line
- Payoff credit cards
- Pay real estate taxes & property insurance
- Complete needed home repairs or desired improvements
- Ability to pay for at home care or nursing home expenses
- Finalize divorce situations (buyout ex & keep your home)
- Pay IRS obligations
- Settle legal matters
- Use a reverse to purchase a new home
- Purchase a second home or condo in warmer weather
- Install a new septic system
- Purchase a new or used car
- Buy an RV
- Support grandchildren’s educational needs
- Gift to adult children for their home purchase dreams
- Prepay funeral expenses
- Estate & financial planning purposes
- Cash reserves for unforeseen emergency life events
- Estate planning
- Lifestyle improvement options
- Travel
- Home accessibility improvements
- Cash received is all income tax free
- Peace of mind knowing that cash is available
- And the list goes on! What are your needs and desires?
A reverse mortgage might not be the magic wand to solve all the above life challenges, but it very well could be the next best thing. Take the first step and get informed. I would enjoy the opportunity of having that conversation!
Take Action!
A great place to start is get your free “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.
