South Florida Real Estate Guide Volume 16 Issue 5 | Page 10

“Reverse Purchase Mortgage” Hold onto your hard earned cash! Seniors/Older adults are living longer and running out of money! A Reverse Purchase Mortgage can help buyers purchase the right home/condo and have NO MONTHLY MORTGAGE PAYMENT Purchase Price - $350,000 Example (Age 70 youngest borrower) Down Payment - $194,581 (One time down payment, includes closing costs ) (Title stays in your name) (Property passes onto heirs, estate, named person, etc) Lifetime Monthly Mortgage Payment - $0.00 an o L o b m u J Amounts Up To $4 Million As people age, many unexpected expenses can arise, such as medical bills, prescription drugs, home repairs and the need for long term care. Additionally, when a spouse passes, one of the Social Security checks goes away. When saving and retirement accounts run low and life insurance is no longer available, a Reverse Purchase Mortgage eliminates your monthly mortgage payment and increases monthly cash flow, giving you a greater sense of financial security. *At least one borrower must be 60/62 years of age. Must be primary residence and keep property taxes, insurance, HOA dues current. Homeowner retains title. Occupancy within 60 days of loan closing. “Call today - No obligation” Reversing Pa Mortgage, LLC Michael Friedman 561-631-1701 Broker-Owner [email protected] www.reversingmtg.com Available 24/7 NMLS#1396947 This material is not from HUD or FHA and has not been approved by HUD or a government agency.