Reverse Mortgage Loans
     		Stimulus Raises Lending Limits to $625,500 to December 31, 2011
    
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REVERSE MORTGAGES AS AN ESTATE PLANNING TOOL  
   
Lowering the total estate value subject to taxes.
    
Provide life insurance for the homeowner’s heirs to pay estate taxes.
  
Reverse Mortgage should be considered as an integral part of the estate plan.
   
As a non-recourse loan that releases home equity and converts it into tax-free cash, there are no restrictions on the use of the proceeds, the borrower continues to own the home and no monthly payment is required for as long as the borrower resides in the home.
  
 

   
Funding for Healthcare or Long-Term Care Insurance
    
Most Americans recognize the need for a long-term care insurance program to both protect their assets and relieve any potential burden on their family. Many Seniors, when faced with this situation are forced to use their savings or impact their monthly income for long-term care coverage. A reverse mortgage allows seniors to stay in their homes, be self-sufficient, and not deplete existing savings or income.
   
Maximize Legacy Asset Transfer
     
While a home may hold a great amount of emotional value for a family, the reality is that in most cases, the property is sold after the owner’s death. The heirs are often forced to sell the property in a volatile real estate market with no guarantees. After the sale, which may drag on due to market conditions, heirs may be faced with inheritance and/or capital gain taxes on the proceeds. The net proceeds are often less than the perceived value of the home. If a reverse mortgage is used to purchase life insurance, this scenario typically translates into greater wealth transfer to the heirs.
  
Provide Funding for Estate Taxes
    
When the tax-free equity release is used to fund life insurance products, a reverse mortgage is an effective way to secure the future for heirs. It gives homeowners, particularly those with substantial wealth built up in their homes, the comfort of having more control over their estate and assuring the legacy they leave retains its value.