Suncoast Florida Mgmt., Inc

REVERSE MORTGAGES

Reverse Mortgages are now the smart solution, now being the
preferred option for financial planning. Reverse Mortgages
are continuing to grow in popularity as a means of providing
financial relief to Seniors. Approximately 43,000 homeowners
took out Reverse Mortgages in 2005. About 62,034
homeowners took out reverse mortgages in 2006, while loan
volume has increased annually by 85%. Fannie Mae studies
show over a 90% Senior satisfaction rate with their Reverse
Mortgage.

Reverse Mortgages are non-recourse loans allowing
homeowners age 62 and plus to convert home equity into
cash, all this without:

● Leaving their home

● Income or credit qualification

● Making monthly mortgage payments

● Having to repay the loan until they move out, sell the house
or pass away.

Proceeds are tax free and can be as a lump sum, in monthly
payments, or as a line of credit.

A Reverse Mortgage represents a powerful product featuring
mandatory counseling and interest rate caps to protect you.
Loan proceeds are available to borrowers based on three
factors; age of homeowner(s), value and location of home,
and current interest rates. The loan is repaid when the home
is permanently vacated, and repayment never exceeds the
value of the home. The amount repaid is principal, accrued
interest, and services fees. The interest paid maybe tax
deductible upon loan repayment. Most important to heirs is
they maintain the right to all appreciated equity greater than
the amount of the loan repayment.

Reverse Mortgages are safe. You continue to own the home
and remain on title. There are no payments and the loan does
not have to be repaid until you permanently decide to leave
the home. If the home is valued at less than the amount of the
Reverse Mortgage the homeowner is NOT responsible for any
balance. Conversely, you are entitled to any equity left after
the loan is repaid. Most Reverse Mortgage products are fully
insured by the US Government and the industry is strictly
regulated by the government and industry associations like
Fannie Mae and NRMLA (National Reverse Mortgage Lenders
Association).

Reverse Mortgages are easy. You are responsible for the
following:

•         Consulting with your financial advisor who is trained as
a Reverse Mortgage Education Specialist

•         Attend a free, required Counseling Session with a FHA
or a Fannie Mae approved counselor

•         Maintain the Property

•         Continue payment of taxes and insurance on the
property

Proceeds can be used to fund a variety of financial products
and options:

•         Long-Term Care Funding

•         Estate Planning

•         Life Insurance and Investment Funding

•         Charitable and Family Gifting

•         Retirement Home Purchase

The Reverse Mortgage reduces the taxable portion of the
estate, thus reducing or eliminating any estate tax. Life
Insurance can replace the equity of the home, and income-tax
free for the beneficiaries.

Lawrence F.Granucci
Licensed Mortgage Broker
727.215.1100 - Call NOW!!!!