Issue link: https://www.ifoldsflip.com/i/894571
20 LIVE IT UP! FRIDAY, OCTOBER 27, 2017 SANTA CRUZ SENTINEL REVERSE MORTGAGE information Donald Dimitruk• 831-464-6464 donald@countrysidefinancial.com www.ReverseMortgageOpportunity.com Registered Financial Consultant® Registered Mortgage Advisor California Life Agent #Of20144 BRE#10902537 NMLS#232493 Professional Mortgage Associates Serving Santa Cruz for 38 years! Established in 1978. YOU CAN SHARE THE DREAM Thinking of Downsizing? Here's how to be more successful... Find out exactly how a REVERSE MORTAGE PURCHASE program works. This changes everything! Questions answered on the phone. Real dollar amounts quoted on the call. Same amount of money Completely different results! $290,000 Home with cash $636,000 Home with HECM purchase program With $290,000 a 70 year old can either buy a small home for cash OR buy a $636,000 home in Santa Cruz. Either way equals ..... No Mortgage Payments for life! BY DONALD DIMITRUK RFC®, RMA T here have been some changes in the Reverse Mortgage guidelines that have low- ered the cost of mortgage insurance for many homeowners obtaining a new Reverse Mortgage aer October 2, 2017. Changes also brought a slight drop in the over- all loan amount available which caused an avalanche of requests for the consumer counseling appoint- ments required to start the loan process. e drop in mortgage insurance cost, which lasts for the life of the loan, can turn out to be a very nice savings especially if longevity is in the picture! And longevity is in the picture affecting most everyone's retirement nest egg and cash flow. Speaking of longevity, the op- portunity to have a reverse mort- gage for 30 or 40 years can be quite a blessing for a retirement savings plan that was only designed to last for 15 or 20. Imagine what the value of your home will be in 40 years! In a reverse mortgage you still own all the remaining equity in your home and all the future equity as well. With a low fixed rate locked in for life and a 4% ap- preciation rate in home value, the Reverse Mortgage Amortization Schedule shows an increase in your home equity year aer year. A Reverse Mortgage is conser- vative by design in that the loan amount is based on the age and zip code of the applicants. A 62 year old homeowner would be eligible for a lesser loan amount than an 80 year old in the same area in order to preserve the equity of the home- owner during their life span. Reverse Mortgage loans are the most misunderstood in all of mort- gage lending. A tailored plan to achieve your financial goals is key to realizing how a reverse mortgage can benefit you. Get the facts, it's better than you think! Donald Dimitruk is a Registered Financial Consultant ® and a Registered Mortgage Advisor and is available for a free consultation about how a reverse mortgage may benefit you at Phone: 831-464-6464 Email: donald@countrysidefinancial.com Web:reversemortgageopportunity.com REVERSE MORTGAGE CHANGES How Will They Affect You?