Details for AGENTI MEDIA SERVICES - Ad from 2018-10-09

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Why Haven’t Senior
Homeowners Been
Told These Facts?

Keep reading if you own a home in
the U.S. and were born before 1955.
It’s a well-known fact that for
many senior citizens in the U.S.
their home is their single biggest
asset, often accounting for more
than 50% of their total net worth.
Yet, according to new statistics
from the mortgage industry,
senior homeowners in the U.S.
are now sitting on more than 6.1
trillion dollars of unused home
equity.1 With people now living
longer than ever before and home
prices back up again, ignoring this
“hidden wealth” may prove to be
short sighted.
All things considered, it’s
not surprising that more than a
million homeowners have already
used a government-insured Home
Equity Conversion Mortgage
or “HECM” loan to turn their
home equity into extra cash for
retirement.
However, today, there are still
millions of eligible homeowners
who could benefit from this
FHA-insured loan but may
simply not be aware of this
“retirement secret.”
Some homeowners think
HECM loans sound “too good
to be true.” After all, you get the
cash you need out of your home
but you have no more monthly
mortgage payments.

NO MONTHLY MORTGAGE
PAYMENTS?2 EXTRA CASH?
It’s a fact: no monthly
mortgage payments are required
with a government-insured
HECM loan;2 however the
homeowners are still responsible
for paying for the maintenance
of their home, property taxes,
homeowner’s insurance and, if
required, their HOA fees.
Another fact many are not
aware of is that HECM reverse
mortgages first took hold when
President Reagan signed the
FHA Reverse Mortgage Bill into
law 29 years ago in order to help
senior citizens remain in their
homes.
Today, HECM loans are
simply an effective way for
homeowners 62 and older to get
the extra cash they need to enjoy
retirement.
Although today’s HECM loans
have been improved to provide
even greater financial protection
for homeowners, there are still
many misconceptions.
For example, a lot of people
mistakenly believe the home
must be paid off in full in order
to qualify for a HECM loan,
which is not the case. In fact,
one key advantage of a HECM
is that the proceeds will first be

FACT: In 1988, President
Reagan signed an FHA bill that
put HECM loans into law.

used to pay off any existing liens
on the property, which frees
up cash flow, a huge blessing
for seniors living on a fixed
income. Unfortunately, many
senior homeowners who might
be better off with HECM loan
don’t even bother to get more
information because of rumors
they’ve heard.
That’s a shame because HECM
loans are helping many senior
homeowners live a better life.
In fact, a recent survey by
American
Advisors
Group
(AAG), the nation’s number one
HECM lender, found that over
90% of their clients are satisfied
with their loans.
While these special loans are
not for everyone, they can be a real
lifesaver for senior homeowners.
The cash from a HECM loan
can be used for any purpose.
Many people use the money
to save on interest charges by
paying off credit cards or other
high-interest
loans.
Other
common uses include making
home improvements, paying off
medical bills or helping other
family members. Some people
simply need the extra cash for
everyday expenses while others
are now using it as a “safety net”
for financial emergencies.
If you’re a homeowner age 62
or older, you owe it to yourself
to learn more so that you can
make an informed decision.
Homeowners who are interested
in learning more can request a free
2018 HECM loan Information
Kit and free Educational DVD by
calling American Advisors Group
toll-free at 1-(800) 791-7033.
At no cost or obligation, the
professionals at AAG can help
you find out if you qualify and
also answer common questions
such as:
1. What’s the government’s role?
2. How much money might I
get?
3. Who owns the home after I
take out a HECM loan?
You may be pleasantly surprised
by what you discover when you
call AAG for more information
today.

1
Source: http://reversemortgagedaily.com/2016/06/21/seniors-home-equity-grows-to-6-trillion-reverse-mortgageopportunity. 2If you qualify and your loan is approved, a Home Equity Conversion Mortgage (HECM) must
pay off any existing mortgage(s). With a HECM loan, no monthly mortgage payment is required. A HECM
increases the principal mortgage loan amount and decreases home equity (it is a negative amortization
loan). AAG works with other lenders and nancial institutions that offer HECMs. To process your request for
a loan, AAG may forward your contact information to such lenders for your consideration of HECM programs
that they offer. When the loan is due and payable, some or all of the equity in the property no longer belongs
to borrowers, who may need to sell the home or otherwise repay the loan with interest from other proceeds.
AAG charges an origination fee, mortgage insurance premium, closing costs and servicing fees (added
to the balance of the loan). The balance of the loan grows over time and AAG charges interest on the
balance. Interest is not tax-deductible until the loan is partially or fully repaid. Borrowers are responsible
for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an
escrow account for disbursements of these payments. A set-aside account can be set up to pay taxes and
insurance and may be required in some cases. Borrowers must occupy home as their primary residence
and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan also becomes
due and payable when the last borrower, or eligible non-borrowing surviving spouse, dies, sells the home,
permanently moves out, defaults on taxes or insurance payments, or does not otherwise comply with the
loan terms. American Advisors Group (AAG) is headquartered at 3800 W. Chapman Ave., 3rd & 7th Floors,
Orange CA, 92868. (Illinois Residential Mortgage Licensee; Illinois Commissioner of Banks can be reached
at 100 West Randolph, 9th Floor, Chicago, Illinois 60601, (312) 814-4500). V2017.08.23_OR

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

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