The New Reverse Mortgage Formula: How to Convert Home Equity into Tax-Free Income

Book Description
The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today’s reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.


About the Author
TOM KELLY is a former real estate editor for the Seattle Times. He currently writes a nationally syndicated column and hosts a nationally syndicated radio program. He is recognized by the National Reverse Mortgage Lenders Association as a leader in explaining and detailing reverse mortgage products to consumers. With The New Reverse Mortgage Formula, he provides an innovative, commonsense guide for unlocking critical cash for seniors, creating a financial strategy for baby boomers, or building a pool of funds to pay for future healthcare.


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Reverse mortgages permit seniors to convert part of their home equity into tax-free income-even if they're still paying on the mortgage. Designed specifically for seniors, these specialized loans let you tap into your equity and use the money for any purpose. Safe and legal, these loans can never cost more than the value of the home, and the loan doesn't have to be repaid until you, or an heir, sell the home.


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