Reverse Mortgage Information

 http://www.reversemortgagenation.com/bobdecker/

*Reverse Mortgage loans are based on several factors including age of the borrower which is a minimum of 62 years old, interest rates and the home's value.  Eligibility includes ownership of the home, residency of the home and the value of the home.  There may be fees and charges that are applicable including loan fees and yearly contract charges.  Remember, there are no monthly payments to the borrower for the life of the loan.  The borrower may spend the proceeds of the loan in any way they want.  Set payments can last as long as the borrower lives or remains in the home.  After the borrower leaves the home or is deceased, the mortgage is repaid from the proceeds of the sale.  The remaining equity, if any, goes back to the borrowers or their heirs.  If the sale of the home is not enough to pay back the reverse mortgage loan, there is no recourse to the borrower, the borrower's estate or heirs.  Interest on the loan payouts may be partially taxable. 

Bob Decker & Associates, LLC do not provide legal or tax advice.  Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax and legal counsel.