Government Insured Reverse Mortgage

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1 Government Insured Reverse Mortgage HECM (Home Equity Conversion Mortgage) Independence & Peace of Mind for Seniors From the company providing Mortgage options Since 1968.

2 What is a HECM or Reverse Mortgage Loan? A Reverse Mortgage loan is a Government Insured loan which allows senior homeowners 62 or older to access their home equity and receive loan proceeds in a variety of different ways. Having spent years repaying your traditional mortgage, you can now tap into that investment to help you achieve your goals. However you plan to use your equity whether paying medical expenses, improving your home or just adding a bit of cushion to your monthly budget you'll have a golden opportunity to put your investment to work for you. Repayment is required if the borrowers no longer reside at the property, taxes and insurance on the property are not kept current, the property is not maintained to FHA standards, or other program requirements are not satisfied.

3 Benefits to our Seniors Have Financial Independence Stay in Your Home No Monthly Mortgage Payments Tax-free Money Freedom and Flexibility No Income Qualification Required No Credit or Bad Credit, OK!

4 RETIRE IN THE COMFORT OF YOUR HOME AND BE COMPLETLEY DEBT FREE! A reverse mortgage is a financial tool designed as a form of financial relief for homeowners 62 and older. It allows seniors to stay in their home, eliminate their current mortgage payment, and access their equity tax-free! Unlike traditional forward home loans or second mortgages, no repayment is required until the homeowner(s) no longer occupies the property as their primary residence.

5 How do reverse mortgages work? The application process is much simpler then any other loan. Your current loan (if you have one) will be paid off with your new reverse mortgage, totally eliminating any current mortgage payment you have! If you have additional equity, you can access that money tax free! If your home is paid off, you can use a reverse mortgage to gain access to the equity that you have worked so hard to build. As the homeowner(s), you can choose to access the funds to change the rest of your life!

6 How Do I Qualify? First, you must be 62 years or older. It must be your primary residence. Your Taxes & Insurance must be current. You must have equity in your home. Simply contact on of our HECM specialist and with in minutes will let you know if you qualify.

7 Does my Credit or Income matter? I have NO Credit, does that matter? Whether you have excellent credit or you are in foreclosure, it no problem, you qualify! I have NO Income or I am on a Fixed income, does that matter? whether you are on fixed social security or retirement income, you qualify.

8 We Welcome Your Family As in any financial transaction we strive in protecting our seniors and for that reason we welcome and encourage assistance from your children, trusted family or friends to assist in the process. After all you have better things to spend your time on than worrying about bills!

9 What s the Process! Learn about the HECM By talking to our specialists! Take the HUD required Counseling We Establish Value Sign your documents Your loan is funded. Start enjoying Life!

10 Simplified Process For Our Seniors Call us to go over the benefits Attend a mandatory FHA counseling The lender will establish value Sign your paperwork The lender will fund the loan Its that simple!

11 Myths about Reverse Mortgages 1. A reverse mortgage loan affects Social Security or Medicare eligibility. Myth or Fact? Myth. No, a reverse mortgage loan doesn t affect these programs.

12 More Myths & Facts 2. If you pass away, your heirs become responsible for repaying the loan. Myth or Fact? Myth. Your heirs are not personally responsible or personally liable for the repayment of your reverse mortgage loan. The full outstanding reverse mortgage loan balance must be paid when the property is sold, refinanced or paid off with personal funds.

13 More Myths & Facts I've heard that with a reverse mortgage the lender would own my home. Is this true? No. The borrower retains title to the property. The reverse mortgage lender is merely extending a loan to the borrower. Because the homeowners retain title, they remain responsible for the payment of property taxes, hazard insurance, and maintaining the home in reasonable condition - just as they would with a standard first mortgage or home equity loan. Can I refinance a reverse mortgage, as I would be able to do with a traditional home mortgage? Yes. Refinancing can make sense if your home either increases in value, interest rates drop or the maximum lending limit increases. Keep in mind that when deciding to refinance a reverse mortgage, it is important to compare the amount of benefit versus the cost of the loan before making this decision. The amount of benefit received should at least be twice the amount of the cost to refinance the loan. Can a reverse mortgage lender take my home away if I outlive the loan? No. The loan is due and payable when the last borrower sells the property, permanently leaves the home, or becomes deceased. It is important to note however that borrower(s) must adhere to loan responsibilities as agreed upon at closing: reside in the home as primary residence, pay for property charges such as taxes, hazard insurance and homeowner association dues, maintain the property in reasonable condition and make required repairs. If borrower(s) do not meet these responsibilities, it may result in the loan becoming due and payable.

14 We are connected! USALEND FINANCIAL is a proud member of Better Business Bureau with a A+ Rating for the past 44 years with Zero complaints. USALEND FINANCIAL is licensed & Certified by Federal Housing Administration as well as Housing Urban Development as a direct lender.

15 Our Team of Reverse Mortgage Specialists are Standing by!