Hello. My name is Tamara Burch. I’m with U.S.A Mortgage, I’m a senior loan specialist. We do predominately reverse mortgages and help assist customers in utilizing their equity in their home, to actually take those and live the lifestyle that they would like to live and use those monies to invest in their future, instead of investing in a home.
People should take out a reverse mortgage because they’re not utilizing the equity in their home. It’s just sitting there, and it’s wasting. It’s not gaining them additional income. They can use the equity in their home to get financial needs met, or they can use it to invest in themselves, as well as just to enjoy their retirement.
You do need to be at least 62 years old, in order to obtain, at this time there is no credit checks, there’s no income qualifier. So as long as you’re 62 years old and have at least 50% equity in your home, you can use that money for power for yourself, for your future.
Taking the equity out of your home and utilizing it for the Hidden Wealth System just makes sense. Right now, your income in your home is earning you nothing. You can take that money, put it into the Hidden Wealth system, and you will have more capital than if you just left it sitting in your home. It’s a good thing to place the money in the Hidden Wealth system versus just leaving it in your home because, at this time, there’s no advantages to leaving the money in your home. If you’re just letting it sit there, you’re not gaining any additional income, but if you place it in the Hidden Wealth system, now your money is earning money, versus it just sitting in your home and just being stagnant.
A lot of people haven’t thought to use the equity in their homes. One of the main reasons they haven’t thought to use it is they come from a time period where it wasn’t socially acceptable to have a mortgage on your home. You were to take a mortgage for 30 years, pay it off, and then live there the rest of your life with no mortgage in it. They never thought to use that cash equity to actually further advance their portfolios with the Hidden Wealth system.
So, by doing so, this is actually going to gain them additional income. The number one concern I get with the reverse mortgage is the misconception that once you take the mortgage, you don’t own your home anymore. You do own your home. It is simply just a lien against your property. You leave it to your heirs. You will it to them, they own the property, at that time decide what to do with it, either live in it or sell it. So that has not changed simply because you’ve taken a lien against it.
Chuck feels that taking the equity in your home and utilizing a reverse mortgage, where you’re not making those monthly payments on your mortgage, but taking the cash capital and gaining additional income from that cash capital just makes sense for you. It does not make sense for it to sit in the home and gain nothing for your future. By placing the money with the Hidden Wealth system it’s going to accumulate over time, not just today, but tomorrow,and onward. So by taking the cash out of your property, you’re going to be able to build more wealth, not only for you, but you’re going to leave a legacy for your children.