The New HECM Reverse Mortgage is a versatile retirement funding tool that can be utilized in many ways. Here are just some of them:
- Pay off your forward mortgage to reduce your monthly expenses.
- Re-model your home to accommodate aging limitations.
- Maintain a line of credit (that grows) for health emergencies and surprises.
- Cover monthly expenses and hold on to other assets while their value continues to grow.
- Cover monthly expenses and avoid selling assets at depressed values.
- Pay for health insurance during early retirement years until Medicare eligible at 65.
- Pay your Medicare Part B and Part D costs.
- Combine life tenure payments with Social Security and income generated by assets to replace your salary and maintain your monthly routine of paying bills from new income.
- Pay for your children’s or grandchildren’s college or professional education.
- Maintain a “standby” cash reserve to get you through the ups and downs of investment markets and give you more flexibility
- Combine proceeds with sale of one home to buy a new home without a forward mortgage and monthly mortgage payments.
- Pay for long-term care needs
- Fill the gap in a retirement plan caused by lower than expected returns on your assets.
- Pay for short term in-home care or physical therapy following an accident or medical episode.
- Pay for a retirement plan, estate plan or a will.
- Convert a room or basement to a living facility for an aging parent, relative or caregiver.
- Set up transportation arrangements for when you are no longer comfortable driving.
- Create a set aside to pay real estate taxes and property insurance.
- Delay collecting Social Security benefit until it maxes out at age 70.
- Eliminate credit card debt and avoid building new credit debt.
- Cover monthly expenses in between jobs or during career transition without utilizing other saved assets.
- Cover expenses and avoid capital gains tax consequences of selling off other assets.
- Purchase health-related technology that enables you to live in home alone.
- Pay for an Uber or Lyft account so you have mobility and access to appointments and social activities.
- Help your adult children through family emergencies.
Want to make electricity and save up to 85% on utilities? Use HECM loan and make no payments in your lifetime. Big savings on your utilities. Consider solar on your roof now. Use HECM to gain the most leverage. “Talk to me”, says Warren Strycker, veteran professional, 928 345-1200.
Clean, sustainable solar is coming into its own as a dependable, modern energy strategy with significant financial and environmental advantages.
Lower energy bills that will never go up. Reducing our dependence upon fossil fuels. Ensuring a cleaner environment for future generations to enjoy. Creating quality jobs for Arizonans in an expanding global industry. There are so many reasons that solar is becoming an energy option of choice for financially and environmentally savvy consumers and commercial enterprises. Other benefits to consider:
- Reduced electric costs
- Higher resale value for properties
- Investment with guaranteed rate of return that increases as the cost of living goes up
- Guilt free use of electricity for greater comfort, efficiency and convenience
- Contributing to a cleaner, healthier planet
Hear the solar story in Arizona. Beat the increasing rates you have now to make “#SUNtricity” at a flat rate. With a HECM, it will cost you little or nothing out of pocket, and “I can refer you,” says Strycker. (928 345-1200)