Issue 15.13
The skies grew dark and a chill set in as people awaited the dreaded changes for the H.E.C.M. to be announced. Many had speculated the severity of what was to come while others held tight to see if there was a sunrise in the future for this long running government regulated loan program designed for the senior home owner.
The good news is the clouds blew out of the sky and the program is still alive and doing well. Many opportunities await the potential borrower and many of the feared changes did not come to pass. The reverse mortgage is available and energized with options and financial plans making it even more exciting and the ability to purchase a home using the loan is still an amazing avenue.
Though the fixed rate pan has reduced calculations, it may still be utilized but the adjustable rate allows the same lump sum draw only with a start rate of under 3%. But possibly the most intriguing plan allows an equity line to be obtained for a portion or all of the eligible funds. This equity line can actually grow in value every year with no tax implications. Definitely, this program warrants investigation as gains on investments aren’t always guaranteed in today’s market.
The bottom line is, breathe easy as plenty of opportunity awaits the senior who wants to take advantage of no mortgage payments for life on the H.E.C.M. For details on how this amazing product may benefit you, Contact me, Scott Gibson 435-767-1092. I can explain how your life could change!