Reverse Mortgages Are An excellent Financial Tool---When Properly Applied

This is my first blog---ever! I cannot believe I am jumping out on this limb!

My goal in establishing this blog is to provide a place where people can talk about Reverse Mortgages--make statements---correct or incorrect---and get answers. Or, they can simply ask questions. This is my first and most important statement I can make about Reverse Mortgages---today:

As a HUD approved Reverse Mortgage specialist located in Alexandria, Va., I can tell you that Reverse Mortgages are rapidly being embraced by the financial planners in this area. After a demonstration of the HUD approved reverse mortgage analyzer software (all lenders have some version of it) they can see that their clients will immediately know if they have enough equity in their home to qualify. Then, as with all loans, amortization charts can show them 5, 10, 15---or more---years down the road---how much they could owe and how much equity they may still have in the home when the loan is repaid. Lots of “what if” scenarios can be run with this software.

Seniors and their heirs can see that when properly applied – they may be able to leave more to their heirs---with the use of a Reverse Mortgage. By this, I mean that the best application is to take the money out on an “as needed” basis. In doing so, seniors can keep the total accrued interest costs to a minimum---and the amount in their line of credit---which is guaranteed to grow each year----at no additional cost to them on the unused portion---to a maximum!

If proceeds are wisely utilized, there is absolutely no reason that a Reverse Mortgage will ravage an estate---but rather can serve to preserve, protect and even enhance an estate for the heirs!

Go to www.homefirstmortgage.com/reverse and click on “Scenario for a Reverse Mortgage” for a complete example of how this works! Naysayers who have not seen a demonstration of this software should not criticize this promising tool until they have had done so.