Obtaining a Reverse Mortgage is a quick and easy process. Your income and credit rating are not a factor in the approval process!

In order to qualify for a Reverse Mortgage, you must:

• Be at least 62 years of age or older (including spouse)
• Be using the home as a primary residence
• Have no current mortgage, or
• Have a mortgage balance that can be paid off with the proceeds of the Reverse Mortgage

The amount you will receive from your Reverse Mortgage depends on a number of factors, including the amount of your home's appraised value, the current interest rates, and the age of the youngest borrower. After your estate repays the lender, the remaining equity is paid directly to your heirs. If your family or estate wish to keep the home, a conventional mortgage can be used for repayment and any additional equity remains in the control of your family members or the estate.

Reverse Mortgage benefits:

• No payment on the mortgage as long as you reside in your home
• No restrictions on how you use the proceeds.
• You retain ownership to your home, not the Lender
• No taxes on the proceeds from the Reverse Mortgage
• The FHA Reverse Mortgage is a Federally insured program
• Many flexible payment options available

The Loan is Repaid When:

• The last borrower passes away
• The home is no longer the borrowers primary residence
• The home is sold
• The borrower's transfer title of the property to someone else

I can provide you with all of the details that you need to make an informed decision. If you are still interested, please email me at Wsalpeter@wcslending.com or call me at (561) 864-2416. To contact me about other kinds of mortgages, you can visit my other website at www.WCSLending.com/WSalpeter

Get money OUT instead of paying INTO your mortgage and use the funds as a lump sum, for extra monthly income, or to help pay medical expenses, property taxes and health or home insurance premiums?

Have you built equity in your home? Is it worth more than you paid for it ? How about taking advantage of this in your senior years?

A Reverse Mortgage is a unique loan that enables senior homeowners to convert a portion of the equity in their home into income with out having to sell their home. Reverse Mortgages are available to homeowners that are at least 62 years of age and older who own their own homes. Funds obtained from the Reverse Mortgage are typically tax-free and borrowers can elect to receive the proceeds as a lump sum, monthly income, line of credit or any combination. Borrowers can use the funds anyway that they wish.

Reverse Mortgages have no income or credit requirements and borrowers make no monthly mortgage payments throughout the life of the loan. The loan becomes repayable when the owner sells the home or permanently moves out of the property. Regardless of the balance on the mortgage the borrowers or their heirs are not responsible for any amount that exceeds the sales price of the property.

Many seniors today are confronted with shrinking retirement reserves, rising healthcare costs and increased insurance premiums. In addition, they have watched the value of their homes climb significantly in the last few years making their home their largest asset. Many seniors and their financial advisors are beginning to realizing that the equity in their home is the ideal means to fund their retirement and still allow them to enjoy the comfort of staying in their home.

A Reverse Mortgage may not be right for every senior. If you know someone that you think might benefit from a Reverse Mortgage, it is critically important that they work with a experienced professional who can explain in detail the various options that are available with this type of mortgage product. For more detailed information on reverse mortgages, please keep reading, download our flyer, or contact me directly.