Reverse Mortgage Minnesota

You might have heard or noticed on the news that the cost of living is increasing at an alarming rate and our income has stayed pretty steady. Actually with the dollar becoming weaker the purchasing power of our income has steadily decreased.

Take a look at your gas bill and electric bill and compare it to last years bills…its hard to imagine the increase. How are we expected to keep paying these high prices when our income stays the same and our purchasing power keeps decreasing?

There are ways to help get out of this slump, but if you are like many people they live in fear and denial. They are often too depressed and stressed out to look around and see what might be available to help. The economy is not easy for anyone, so it makes you wonder how your neighbor and friends are doing it.

Maybe they just were lucky, they probably have always had luck on their side. Or maybe their family had a lot of money and they were just given money. Or maybe they had a great job and didn’t have any of the financial setbacks in their life you experienced… a lot of different thoughts run through the mind.

But maybe, just maybe the people you see sailing by on easy street might have looked around and found out about a number of programs that were created to help.

I bet before they found the program that helped them they looked at 3 or 4 before deciding which one fit their situation. I am sure they took a hard look at a lot of opportunities, kicked the tires, talked to the experts, did some research. They were smart because after looking at the different programs, when they decided to help themselves they knew without a shadow of a doubt that what they picked was best for them.

I know you are smart too, because you have read this letter to this point and are beginning to think, maybe just maybe there is something out there that would put you back on easy street. Understand, for many people they will struggle all their life and become so comfortable with struggling that struggling becomes their close friend. Mr. or Ms. Struggle have become so close to you that you wouldn’t dare look at a program that would alienate one of your closest and dearest friends that has been with you for years. I mean they have been with you all your life.

Now lets tell Mr. or Ms. Struggle that you would like to start seeing other people and maybe you will find Mr. or Ms. Prosperity and Mr. or Ms. Financial Freedom more fun to hang around with. You see as soon as you meet Mr. or Ms. Cash Flow, you will soon forget about Mr. or Ms. Struggle.

Let me introduce you to your new friends – I promise a long fulfilling relationship with a friend that will cause you to quickly forget about Mr. or Ms. Struggle.

Call me (866) 800-0280 – you’ll be glad you did.

Troy Freesemann
(866) 800-0280
http://www.efn2700.com

Reverse Mortgages in uncertain economic times

Recently I have been hearing from a number of seniors that they want to take the "wait and see approach" to thier financial future and decide later if they want the education on the Reverse Mortgage. In uncertain economic times waiting to learn about the Reverse Mortgage is possibly the WORST thing to do. Consider this - as we listen to the news and do a little research on the economic climate my feeling is that things are going to get worse before the get better. At least they aren't going to get better for some time, but it will get better - we just don't know when. So why wouldn't you take the time to look at the Reverse Mortgage program. There are a lot of companies that will send you free information, will answer your questions over the phone and will even meet face to face with you and your family.

Here are the reasons taking the wait and see approach is possibly the WORST thing to do in regards to learning about the Reverse Mortgage:

Currently the interest rates are at an all-time low (which means more cash to you).


Currently the cash from a Reverse Mortgage is Tax-Free.

Currently no income qualifications are required.

Currently there are banks that will fund Reverse Mortgages.

The Reverse Mortgage gives you control over your cash – when you leave the cash in your house, the bank has control over it and when the government has a stake in the major banks…then what??

Now is the time to explore your options!



Reverse Mortgage Man
(866) 800-0280

Reverse Mortgage Lending Limit

If you have been following and looking into the Reverse Mortgage, you already know that the lending limit has increased. Here is a quick synopsis of what that means:

The amount of cash avaialable to a senior with a Reverse Mortgage is based on three criteria:

1. Age of the youngest borower on title
2. The current interest rate
3. The value of the property or the lending limit whichever is less

So prior to the increase if you lived in a county where the lending limit was 200,000 and your house was worth more than 200,000, the amount available would be based on 200,000 instead of the appraised value of your prpoerty.

Now the lending limit has been raised to $417,000 nationwide (no longer fluctuates based on the county you reside in). Again if your house is worth more than $417,000 the amount available is going to be calculated using the $417,000 number instead of the true value of the home. If you home is appraised under $417,000 then the appraised value will be used to calculate the amount avaialable.

This is allowing a large number of seniors to take advantage of this program and makes it more beneficial.

If you have more questions or curious how much cash is available to you under this program, please give me a call - I would be glad to run some numbers for you. We also offer 1 on 1 education to explain in detail how the program works and what it would look like in your situation. I would suggest everyone go through our education process before moving forward with a Reverse Mortgage. We always point out the negatives as well as the positives so you can make an informed decision. We never want to make the decision for you - with our information and your knowledge of your situation, you are the best person to make the decision if a Reverse Mortage is right for you.


Reverse Mortgage Man
(866) 800-0280
troyf@inlanta.com

Reverse Mortgage and the Kids Inheritance

Often times I hear that when considering a Reverse Mortgage there is a fear there won't be as much to leave to the kids upon thier passing. That is a valid concern if:
You want to leave as much as you can to your kids

But consider a couple of things:
If your goal is to leave as much as you can to your kids -- bluntly you need to find a way to DIE because every day that you live you are spending your kids inheritance.

But seriously, ask your kids if they would rather have you live comfortably or if they would rather have more money when you die..their answer will tell you a lot about them.

Consider that no matter how much is passed to the kids (thousands or millions) the average inheritance is gone in 8 months.

The larger your estate the more Uncle Sam and the attorneys will get - maybe the money should be gifted prior to your death?

The value of money today is going to be more that the value of money they get when you pass away. (what was a dollar worth just 20 short years ago?)

The Reverse Mortgage is set up so there is equity left when you pass. With a 4% appreiciation rate on a $200,000 home, the value of your property will increase by $8,000 a year and compound.
The interest of 6% on $100,000 is $6,000 so the interest you pay if you take a lump sum of $100,000 is paid for by the appreciation and the equity is even added to. The reality of the situation is the Reverse Mortgage interest rate is under 4%.

So if you want to give the most to your kids, maybe a Reverse Mortgage is the way to go...extract the tied up equity -- gift it to your children and you can watch them enjoy it, help them make wise decisions, visit them in their new house that you helped them buy, take the grandchildren on a vacation.. the possibilites are endless because when you are gone -- memories are going to be more valuable than a pile of money.

Finally, your legacy is not money, it is the value systems that you passed on to your children. So enjoy your Golden Years by using the Goldmine you are living in.

Reverse Mortgage Man
(866) 800-0280
www.moneywise.net

Related Videos: http://www.moneywise.net/letters/videos.htm

Economy and uncertain investments

I voted this morning and hope that everything works to the benefit of all Americans. I believe in all Americans and know no matter what challenge we face we will survive and prosper. We have faced challenges in the past and are facing challenges today. Right now we are all aware that as costs continue to increase and our "nest egg" is slowly eroding -- what should we do? How do we make sure that we don't outlive our money? Of course my idea has been use a Reverse Mortgage and let your investments grow to increase the power of your retirement, but I thought I would share a link so you could hear what Suze Orman would say to that question.

http://www.cnbc.com/id/15840232?video=903477657

If clicking on it doesn't work, paste it into you address bar.

To your future,


Reverse Mortgage Man
(866) 800-0280
www.moneywise.net

Related Videos: http://www.moneywise.net/letters/videos.htm

Reverse Mortgage and Obama and McCain

The election is only 3 short days away. In the past weeks I have heard from many seniors that they want to wait until the election is over before the take advantage of getting educated about the Home Equity Conversion Mortgage. I was puzzled by this, but realize we all have a reason to put of getting an education. And I can appreciate that the time may not be right, but I can't think of a better time and here is why: The interest rates are probably as low as they will be and they are steadily rising (this means less cash for the senior), the lending limit just went up allowing higher valued homeowners to access more cash and if the new president gets to add to their plan...then we can expect more taxes taking more of our retirement assets. We can wait and see, but being in the position to ACT is very important. The education will prepare you to act fast if you need to and if its not right for you, at least you know for sure. Get out and vote on the 4th!

Reverse Mortgage Man
(866) 800-0280
www.moneywise.net

Related Videos: http://www.moneywise.net/letters/videos.htm

The ecomic crisis - what should I do?

We all know what is happening all around us - corruption, market failure, housing crisis --a lot of negatives .. So what should we do??? Well first of all we need to take a step back and take a deep breath. Decisions made in "panic mode" very often make a situation worse. We need to evaluate our individual situation and seek out our different options. If we read, watch or listen to the news you will hear about the worst situations in the worst areas of the country and that may not even be close to what you might experience.

Since I focus on helping people with their equity, I want to remind you that if you had your money out of your house and in a safe account (and there are accounts that did NOT lose any money) when your house lost value, you would have the cash in your pocket today!

Now of course you can curl up in the fetal position and pray that things will get better and maybe the government will take care of the mess they created, but you tell me when the Government getting involved helped any situation? Especially when it comes to a financial crisis? The governement is a Financial Crisis!

If you want to move forward and stay ahead of the game, make plans now to remove the equity in your home and put it somewhere safe - if you are not sure of what is safe, may I suggest under your mattress for the time being? As house values continue correcting and you are losing the gain on your investment and your 401(k) is turning into a "201(k)". Lets preserve what we have in our best real estate investment.

Also - its a great time to buy stock - its cheap!

A lot of wealth was made during the depression by the people who had access to their cash and could buy property at "fire sale" prices.

Reverse Mortgage Man
(866) 800-0280
www.moneywise.net