William Penn Life, 2017 (52. évfolyam, 1-12. szám)
2017-03-01 / 3. szám
Moneywise • Better cash flow. For some homeowners, structuring their reverse mortgage to provide a steady income stream of monthly payments helps them to manage their finances more effectively. • Elimination or reduction of mortgage/home equity payments. The number of homeowners retiring with a sizeable mortgage or home equity line of credit is on the increase. A reverse mortgage will eliminate the mortgage payment and reduce the financial impact on the homeowner's monthly budget. • Tax-free cash availability. The proceeds from a reverse mortgage are tax-free. The homeowner will not have to pay additional income tax on any withdrawals taken from his/her loan. • A line of credit for future use. This is one of the most beneficial and overlooked features about reverse mortgages. Unlike traditional home equity lines of credit, the credit line on a reverse mortgage is secured and cannot be reduced if home values go down or interest rates go up. The unused portion of the credit line increases each month that you don't use it. • Means to purchase one's dream home. The HECM for Purchase program* was launched in 2009, and many people still don't know that it exists. This unique program allows borrowers to buy a new or newer primary residence for their golden years. The buyer makes a down payment of approximately half the purchase price and does not have to make any monthly mortgage payment. They are still responsible to pay their real estate taxes, homeowner's insurance and homeowner association dues, if any. This program is gaining traction across the country as more and more realtors and retirees are learning about it. If you want to learn more about reverse mortgages and how one might best be incorporated into your own personal plan, please contact the WPA Sales Department, or contact Sallie Dunn, NMLS # 485918, at Retirement Funding Solutions. Sallie is an experienced and highly respected reverse mortgage loan officer located in Pittsburgh, Pa. For over 10 years, she has helped countless baby boomers live the best years of their lives by helping them make the most of their retirement. You can reach her at 724-503-4500 or by email at sdunn@rfslends.com. *The HECM for Purchase program is administered by the Department of Housing and Urban Development and the Federal Housing Authority. □ Come grow with us William Penn Association is looking to grow and expand its reach in current and possibly new markets. To do this, we are seeking to add highly motivated agents to our list of over 800 existing agents. WPA currently writes insurance and annuity products in 20 states. The states include: CA, CT, DC, FL, IL, IN, KY, MD, MA, Ml, MO, NC, NE, NJ, NY, OH, PA, VA, WV and Wl. To grow, we need both full-time and part-time agents. Good agents are the lifeblood of any association, and WPA is a strong and growing association that has much to offer our members and the agents who write for us. If you are interested in an opportunity to grow with us, then contact Bob Bisceglia at 1-800-848-7366 ext. 134. Thank you. WILLIAM PENN LIFE 0 March 2017 0 5
