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Reverse Mortgage is NOT A Bad Word!

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Real Estate Agent with Brokers Guild Cherry Creek Ltd IA100052670

Reverse Mortgage is Not a Bad Word!  

Did you know that MANY things have changed in the Reverse Mortgage world in the past 7 years? 

Come find out how POWERFUL this financing tool can be with financial planning for those who are experiencing some retirement changes. 

The world is evolving and combining families and freinds into #NextGen homes is proving to be a great help with transitioning into life's changes.  This financing tool might be the answer to long term care in your own home.  

The Reverse mortgage changes are helping "Classic Citizens" be able to stay in their own home as long as they need to be there.  

Meet Shelley Bayne of MAC5 Mortgage:

Shelley Bayne

Shelley Bayne is a licensed Colorado Mortgage Broker with 9 years experience in the reverse mortgage industry.

Don’t miss this opportunity to receive honest and accurate information about Reverse Mortgage to be able to make educated decisions on what this financing tool offers.  

  • Tuesday, July 12, 2016 from 10:00 am to 11:30 am.  
  • Heritage Todd Creek Community Center 8455 Heritage Dr. Thornton, CO off Hwy 7 or C470 and Quebec 
  • Please RSVP  for space and room location  720-416-1984 text or call

See what the new changes can mean for you in a possible re-finance or buying new!

Any Colorado Real Estate Agents or service providers are invited to attend and bring clients for PURE education. 

This event is part of the ongoing series of events with the "Transition Living Real Estate Team™ that are aimed at providing helpful information as people "Transition" into new chapters of life.  

Learn the answer to these questions: 

  1. What is a reverse mortgage?
  2. Does the bank own my home?
  3. What are the costs associated with a Reverse Mortgage?
  4. Are there special requirements?
  5. Can I purchase AND refinance with a Reverse Mortgage?
  6. Does a Reverse mortgage change Social Security or Medicare benefits?
  7. How is a Reverse Mortgage repaid?
  8. What can the funds from a Reverse Mortgage be used for? Are the funds taxable income?
  9. How do I qualify for a Reverse Mortgage?

Contact information:

Shelley Bayne NMLS #418867 CO #100037861

Regulated by the Division of Real Estate

MAC5 Mortgage NMLS #199325

400 E. Simpson Street, Suite 107, Lafayette CO 80026

Phone: 303-476-1253 Direct

Fax: 720-864-1515

sbayne@mac5m.com

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Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Carra- this is such good information for everyone.  We've heard of a reverse mortgage but many don't understand how it works. I'm sure this will be well attended. 

Jul 07, 2016 12:55 AM
Carra Riley & Declan Kenyon

Kathy,  thank you for the words of encourgement.. it is so important to know how this tool can be used as many have had retirment fincial plans dissapear with stock changes.  It's not for everyone but great for those in need of staying in their home with limited income.  

Jul 07, 2016 12:58 AM
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I'm going to have to disagree on this one.  I've watched handicapped children evicted, I've watched spouses evicted, I've watched children with investment in the home foreclosed on.  I will never participate in a purchase involving a reverse mortgage.  

Jul 07, 2016 06:59 AM
Carra Riley & Declan Kenyon

Tammy Lankford,  I know you are very strong in your beliefs and I agree with you on the situations you have described!


However,  someone with handicapped children, and spouses that need a place to live after one passes away that was not 62 under old Reverse Mortgage standards.... (This rule has changed hence the need for more education on Reverse Mortgages)  and kids who have invested in parents homes should NEVER have taken out a Reverse Mortgage.  



There are seniors out there now that have no one that will inherit the home and have low income that can use the equity in the home to survive and be able to eat and do a few things than just get by or get food supplements from the county they live in.  


The new guidelines have really helped the consumer from the sad situations of Reverse Mortgages of the past that you have mentioned.  


Kids looking to inheret the family home are not going to like mom and dad using the equity to live better but it is a choice and this event offers an oppoutnity to find out if the new changes in the Reverse Mortgage can fit into the future plans of each individual.  


Great to have your honest comment as that is the attitude of many not aware of the changes.  I have a client that did a reverse mortgage under the old rules and they were trying to sell their home as the younger wife was going to be out in the cold if he passed before she did.. they have been able to refinance with a new Reverse Mortgage and the new guidelines will NOT evict her for being younger.. she can stay the rest of her life as well.  Some stories have good endings and it's all about knowing the right mortgage for each individual situaiton.  

Jul 07, 2016 08:16 AM
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Used properly, a reverse mortgage can be helpful but they are not right for everyone. It is important to know and understand the costs involved so you can make an informed decision based on facts, not emotion.

 

Jul 07, 2016 01:08 PM
Carra Riley & Declan Kenyon

You are right on Diana Zaccaro  they are NOT right for everyone but for those that need it to survive they are perfect!  

Jul 18, 2016 12:05 AM
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