Mutual of Omaha Mortgage
The retirement journey can be challenging and exploring cash flow options is key to understanding what is available to leverage that journey. Many retirees are asset rich, but sometimes monthly income falls a little short or perhaps investment assets are not the best option in a falling market. The Home Equity Conversion Mortgage (HECM) can serve as a great buffer alternative. With many years of experience working with clients in financial planning and banking, the HECM is the only solution for which I now consult. Please use me as a resource and lets start a conversation to see how it may be a fit. I am originally from Canada, but middle Georgia is where my husband works on the Robins Airforce Base and Warner Robins has served as a wonderful town for raising our two, now grown, children. In addition to Georgia, I am also NMLS licensed in Florida, South Carolina, Alabama and Texas.
BENEFITS OF THE HECM
- No monthly mortgage payments
- Borrower retains full ownership of their home
- The loan is repaid when the borrower ceases to occupy the home (sells home or passes away)
LOAN PROCEEDS CAN BE PAID IN SEVERAL WAYS:
- Single lump-sum disbursement
- Fixed monthly tax-free payments
- A line of credit, creating a cash reserve for future needs
- A combination of one or all of the above options
REQUIREMENTS
- Must be 62 years of age
- Live in home as their primary residence
- Have sufficient equity in the home
- Complete HUD-approved counseling (this is normally done by telephone)
HOW MUCH WILL YOU QUALIFY FOR DEPENDS ON:
- Age of the youngest borrower
- Appraised value of the home
- Current interest rates Call or email me to start the conversation, anytime including weekends.