What would you like to accomplish with your Reverse Mortgage?

A reverse mortgage is a versatile financial tool. Its purpose is to give you access to a large sum of money for you to use anyway you want. Below we listed areas that we find many of our clients have an area of interest


Ray Roll NMLS# 1597199

Order Your Free Information Packet
Step 1 of 2

Maintain Independence

Regardless of age, we all want freedom of choice to do what we want. Finances and health have a big impact on your choices. A reverse mortgage gives you access to a  large sum of money that is tied up in your house. What does it do for you other than providing a roof over your head? If you are guaranteed to stay in your home for as long you like; you maintain 100% ownership; retain the freedom to sell your house whenever YOU want; why tie up hundreds of thousands of dollars in it?

Access to a large sum of money, increased cash flow, eliminating monthly payments, all have a positive impact on your financial situation. A more positive financial situation creates more freedom which ultimately results in a strong ability to maintain independence.

The next step is to identify what you want to accomplish. Then we can share ideas on how to best accomplish those goals. Is the reverse mortgage the right tool for you?

Get your free information packet and schedule a phone or in person interview

is a reverse mortgage right for you

Increase Monthly Cash Flow

Financing with a reverse mortgage offers a couple different ways to help increase cash flow. One is by eliminating monthly expenses and the other is by actually increasing your monthly revenue. 

If your home is currently paid in full, one option is to establish a payment for life. The monthly amount is based on the youngest person's age and the principal limit of the loan. It will continue to pay for the lifetime of the last person remaining in the house. Let's say you qualify for $700 a month income, that payment to you will continue until you either pass away or you decide to sell your home. 

If you currently have a mortgage payment, as long as you qualify, the reverse mortgage eliminates the requirement to make a monthly payment. As a matter of fact, you will not be required to make any payments as long you maintain your home as your primary residence. There is one catch, which I'm sure you will understand. Keeping your property taxes and home owners insurance current is required. But that's to be expected whether you do a reverse mortgage or not. 

Get your free information packet and schedule a phone interview

reverse mortgage increase cash flow

Keep A Roof Over Your Head For Life with A Reverse Mortgage

Two variables affecting a person's ability to stay in their home have to do with their financial situation and future health. The biggest reason to pay off a house is to guarantee a roof over your head. Isn't that why you tie up hundreds of thousands of dollars into an asset that can't be accessed without the risk of loss? Maybe the greatest feature of the Reverse Mortgage is the guarantee that you can stay in your home as long as you meet FHA requirements like staying current with your property taxes and home owner's insurance. This guarantee is secured by The Federal Housing Administration (FHA).

Did you know that you maintain 100% ownership of your home? Neither the government or the lender can tell you to leave as long as you maintain your home as your primary residence. If you decide it's time to sell, you have the sole discretion. All you have to do is satisfy any money used/borrowed then take the rest of the proceeds with you to your next adventure.

As you can imagine, health has an impact on where a person can live. If assistance is needed, determining the type of care, the level of care, and the cost of care can directly impact a person's ability to maintain a level of independence and stay in their home. The reverse mortgage offers several options to access money to pay for care:

1- lump sum,

2-monthly income/removal of monthly mortgage payment,

3-a line of credit that increases in value and is easily accessed,

4-or a combination of the three

Click here to learn more about the payment options

Click here to get your free information kit and to schedule a phone or in person interview

Reverse mortgage keep a roof over your head

Replace Lost Income for Surviving Spouse

If a happily married couple suffers the loss of a spouse, the fear or the desire is to make sure the surviving spouse can maintain lifestyle. A common problem is when one half of the couple passes away, they take their income to the grave with them. This can also happen if one spouse is admitted to a nursing home. Aging has many pitfalls and money or lack of money can have a huge impact. The reverse mortgage flexibility gives you options to address this potentially catastrophic issue from a variety of angles.

First, take the time to review current income sources and determine if your spouse will receive any death benefits. For example, does your income transfer to your spouse upon death? Some pensions offer full transfer, others offer a portion.  Unfortunately, many offer zero survivorship benefit.

The goal is to establish ways to increase income or eliminate monthly debt. For example, if you currently have a mortgage payment, using a reverse mortgage will eliminate that monthly expense for life as long you or your spouse stay in the house.

Payment Options

The reverse mortgage primarily offers three payout options. 1-Lump Sum, 2-Lifetime Income, 3-Line of Credit. Of course, which course of action is dependent on your own wants and needs. This is an area where consulting with trusted experts can go a long ways. We can share ideas with you and tell you what others have done to address this particular situation.

You can take a lump sum to invest

Create an immediate monthly income for life. Another option for the income stream is to use a portion to pay a life insurance premium. Obviously, you must qualify for the policy and make sure the death benefit is worth the premium.

Letting your line of credit grow in anticipation of that unfortunate rainy day. Growth is determined by many factors to include current age, interest rates at the time of closing, any future adjustments to the interest rate, etc. One of our consultants would be more than happy to explain this in more detail.

Get your free information kit or schedule a phone or in person interview

replace lost income for surviving spouse

Home Improvements and Modifications

Home improvements and modifications can be both a fun use for your money and a very functional use.

Let's talk about functional use first. You know that a house always is in need of some attecntion like paint, resealing windows, sprinkler repairs, lifting sunken walkways. Too bad there always seems to be an associated cost. The reverse mortgage gives a cushion to cover these costs as they arise.

If your health takes a turn to the south, a key to staying in your house is making sure it's modified to accommodate your needs...for example, a walk in shower or tub with a seat. Silly stairs force more people out their home than you think. Ramps and chair lifts can easily add a decade or more to maintaining your independence.

Get your free information packet and schedule a phone or in person interview

Give to your kids, grandkids, church, charities TODAY

Understandably, you want to make sure you don't outlive your income and savings. At the same time, it might be fun to watch your kids or grand kids enjoy your gifts while you're able. You don't need our help to come up with ideas on how to share your wealth. I bet your grand kids can make your head spin. We usually suggest ideas like helping them with schooling or a down payment for their first home. 

Launching a new business can be exhilarating. Whether you offer help through a loan or a straight gift, it is enjoyable watching your kids take a chance, work hard, and succeed. A reverse mortgage gives you access to cash without the risk of losing the roof over your head.

For those who do not have any surviving family or maybe you just don't like your family (sorry for the bad joke), you can have an impact on your local community through your church or charities. In all reality, you can have an impact on the world. A dollar doesn't seem like much until you meet someone who doesn't have one. Again, the reverse mortgage gives you opportunities to help your fellow man. We have a couple charities that we are huge fans...The Semper Fi Fund might be our favorite. 94% of the money raised goes directly to our Warriors and their Families that were Wounded in Combat. OORAH! 

 Get your free information kit or schedule a phone or in person interview

Reverse mortgage give to kids grand kids

Payoff Your House At Your Own Pace

Let's cut to the chase. The advantage to using the reverse mortgage as your financing tool to purchase a house is the payment flexibility to include never making a payment. There is zero impact on your credit score if you don't make a payment. You also have access to the money you paid that was applied to the balance or the money you paid can be added to your line of credit to be used at a future date or need. 

There is one potential drawback that you'll want to discuss in more detail with us. The associated fees for acquiring a reverse mortgage are higher than a traditional forward mortgage. Balancing the advantages against the associated fees should not be taken lightly. To get exact numbers, you'll need to spend some time with one of our experts. While it goes without saying, we're gonna say it anyways...there is no obligation to do anything. We will need some personal info like your age and current mortgage balance to give you a good overview of the figures.

If you like what you hear, there is a very specific process that we must follow if you want to move forward. It's a great program provided it meets your needs and goals

Get your free information packet and schedule a phone interview

payoff your house reverse mortgage

Relief From Medical Expenses, MEDICAID, Nagging Bills

It's pretty straight forward, money creates choices. If you qualify for a reverse mortgage, the proceeds can be used for whatever you want. We know Medicare has limitations on what it covers. 80% isn't really 80% nowadays. Your Medicare Supplement or HMO has its own associated expenses. Like we have to tell you how extra cash creates more breathing room.

Again, there are no restrictions on how you spend YOUR money. If you want to try a new treatment not covered or use a doctor outside your network, the extra money gives you options that you may not have enjoyed.

Medicaid protections are extremely valuable. Both in acute care and long term care. Being a means based benefit, we don't want to disrupt or cause any interruptions to service or care. As a general rule, in Colorado, securing a reverse mortgage by itself will not cause you to lose your benefit because the money is considered a loan. Some states may actually require you to get a reverse mortgage before applying for services. How you withdraw your money can have an impact. We can not give legal advice on this site. Give us a call and we can discuss this further or we can refer you to competent legal counsel if needed.

Get your free information packet and schedule a phone or in person interview

reverse mortgage pay medical bills

Protect Your Investments

Here is where you'll want to consult with your financial advisers. The reverse mortgage payout options offer an option to protect investment liquidation during down markets. Wade Pfau, Ph. D., CFA, has written a book and several articles in regards to the reverse mortgage and retirement planning.

We can give all the details in regards to the reverse mortgage, how much money you can access and associated fees. Two things that make the reverse mortgage a powerful financial tool...access to a large sum of money TAX FREE with no restrictions on how it is used and protection from losing your house. The Federal Housing Administration (FHA) guarantees that you can stay in your home as long as you like. You maintain 100% ownership.

Get your free information packet and schedule a phone interview

Reverse mortgage financial planning

Vacation Vacation Vacation

The people we talk to all seem to have the same opinion. Now that they are retired, they are in even more need of a vacation. I guess you can visit family if you want OR you can invite family to visit with you in Hawaii. I was stationed in Hawaii when I was in The Marine Corps. Great time is an understatement. There was a short visit to the Middle East, but who cares, I got to live on Hawaii for a couple years. The cool part, if Hawaii isn't your cup of tea, you have the money to go wherever you want with whomever you want. That's what a reverse mortgage does for you.

There are no restrictions on how you use your money. If you want to take a trip around the world or just sit in front of a slot machine, you are free to do what you want.

Get your free information packet and schedule a phone or in person interview

reverse mortgage vacation

Welcome to Reverse Mortgage Assistance