Is this your house — mortgage or no ?

If you own one of these houses, it is worth $450,000, has a $200,000 mortgage on it and $1395 monthly payments. Over the course of the 25 year term left on the mortgage, you will pay out $418,500 in monthly payments. Is that OK with you?

If you are 62, you can get a HECM and eliminate the mortgage payments, putting the $418k you will pay out over the course of the mortgage in your pocket or spending it as you see fit. If you don’t have a mortgage, you could put more than a quarter million dollars cash in your pocket, do with it what you want taxfree and have an even better time than you are having now. What do you say?

With a HECM, your house is still yours, and nobody (besides you) has their name on your title. There is a mortgage  you don’t ever have to pay and in the end when you leave this earth, your home goes to your children just like you hoped. Any equity left in the home is theirs.

Why wouldn’t you get a HECM?  Yes, you could get another forward loan and there is a major difference — more and larger payments and in the end — no equity with which to get a HECM to eliminate your mortgage payments.

So you’ve been good and paid off your mortgage — even more so, the HECM contributes a lot of financial benefit for you in retirement mode, giving you valuable resources you didn’t know you had.

Do you know what to do to make this happen? I do. Call me anywhere in the United States, Warren Strycker, 928 345-1200 and let’s talk.

18460cookie-checkIs this your house — mortgage or no ?