Reverse Mortgages : What Every Financial Advisor Should Know
by Neal, JonathanFormat: Paperback
Pub. Date: 2009-04-30
Publisher(s): Natl Underwriter Co
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Summary
This straightforward guide on the basics of reverse mortgages will prepare financial professional of all levels with what they need to know when their clients ask them about reverse mortgages. With an honest discussion on this financial tool, this concise resource shares when and why a reverse mortgage might be used, how the process works, and how a reverse mortgage relates to other financial tools.
Table of Contents
| Introduction | p. 1 |
| The Basics | |
| A Glimpse at an Emerging Market | p. 9 |
| So what is a Reverse Mortgage? | p. 15 |
| Accessing Funds through a Reverse Mortgage | p. 18 |
| The Different Types of Reverse Mortgages | p. 18 |
| Home Equity Conversion Mortgage (HECM) | p. 19 |
| Fannie Mae Home Keeper & Home Keeper for Home Purchase | p. 20 |
| Jumbo Reverse Mortgages | p. 21 |
| Deferred Payment Loans (DPLs) | p. 21 |
| Property Tax Deferral (PTD) | p. 22 |
| Contrasting Reverse Mortgages and Equity Loans | p. 22 |
| The Reverse Mortgage Product: A Brief History | p. 23 |
| Things You Should Know Before a Client Asks | p. 27 |
| Perception and Reality | p. 29 |
| Why Use a Reverse Mortgage? | p. 33 |
| Aggregate vs. Personal Inflation | p. 34 |
| Dead Equity | p. 35 |
| Is a Reverse Mortgage Right for Your Client? | p. 39 |
| Reverse Mortgage Examples | p. 47 |
| Mary Ann Finally Gets to Retire at 74 | p. 47 |
| David and Kathy Finally Go on that Cross Country Vacation | p. 48 |
| Bill Remodels Their Home for Nancy | p. 49 |
| Taking Cave of Those Nagging Daily Expenses | p. 49 |
| Reverse Mortgages and Long-Term Care | p. 50 |
| Using Reverse Mortgages to Reduce Taxes | p. 51 |
| Summary | p. 52 |
| What to Expect in an Actual Reverse Mortgage Proposal | p. 55 |
| Reverse Mortgages in the Financial Plan | |
| Reverse Mortgages, Taxes and Other Financial Products | p. 67 |
| Using Reverse Mortgage as a Tool to Reduce Income Tax | p. 75 |
| Value and Net Appreciation | p. 87 |
| Asset and Liability | p. 90 |
| Cost | p. 92 |
| Value | p. 95 |
| In Conclusion | p. 97 |
| The Brave New World | p. 99 |
| Federal Regulation Z | p. 103 |
| Subpart E-Special Rules for Certain Home Mortgage Transactions 226.33 Requirements for Reverse Mortgages | p. 103 |
| Appendix K to Part 226-Total Annual Loan Cost Rate Computations for Reverse Mortgage Transactions | p. 105 |
| HUD Handbook Appendix 22 | p. 115 |
| HUD Field Offices | p. 119 |
| Glossary | p. 125 |
| Table of Contents provided by Ingram. All Rights Reserved. |
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