Most Powerful Reverse Mortgage Feature

The most powerful feature of a reverse mortgage would certainly be the line of credit. In todays video, we will discuss what makes the reverse mortgage line of credit so powerful and explain exactly how it works.
Links to videos mentioned:
Reverse Mortgage VS HELOC
• Reverse Mortgage VS HELOC
Reverse Mortgage VS Cashout Refinance
• Reverse Mortgage vs Ca...
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If you or someone you know has questions about a reverse mortgage, give me a call. I'm always happy to educate you about your options and help you determine if a reverse mortgage is a good fit.
We are currently licensed in Arizona, California, and Colorado.
Taryn Proctor
[phone]
rheadvisors.com
[e-mail]
NMLS: 1457445 | DRE: 02116203
Branch NMLS: 2134579

[@BlueSageJake]

I hate pushy salesmen. The harder that someone tries to sell me something, the faster I run away. What I LOVE about your highly informative videos is this: You are not pushing your business. Instead, you simply explain in plain English the various features of the reverse mortgage. I am seriously considering a reverse mortgage, but since I am at the beginning stage of my research, I know absolutely nothing about it. Your videos have been a tremendous help in my education. I truly appreciate that. Thank You!

[@reversemortgageeducation]

Thank you! I’m so glad the videos have been helpful.😊

[@marymaryquitecontrary]

Your videos are so helpful-and just the right amount of information at a time, not too much, not too little. Thank you!

[@reversemortgageeducation]

My pleasure! And thank you! Great to get positive feedback like this. And happy you are enjoying the videos.😊

[@christham7852]

This is by far the best explanation I’ve heard regarding the line of credit growth. I heard Dr Wade Pfau explained it and it was so confusing. I really appreciate it.

[@reversemortgageeducation]

Hi Chris! My pleasure! Glad you found it helpful.😊

[@user-yd8gq3hn8l]

Thank you very much for this presentation. Many of the points are not understood by loan officers who are asked about reverse mortgages and how they fully work. Borrowers: be sure to work with a loan officer who has experience with reverse mortgages and be sure to present your questions you want to hear answers about. Going through these great videos will give you a very good basics understanding about reverse mortgages and good questions to ask your loan officer. This is to see if he or she really understands reverse mortgages. You want a loan officer who understands the more than the basic roots of the loan and can explain the best amount you can qualify for and what is the best rate your possibly can get.
I thank you Taryn Proctor for the GREAT JOB you do not just for the public but for us in the Mortgage Business!!!

[@reversemortgageeducation]

My pleasure! Thank you for the feedback!😊

[@tagabaaoto4679]

Thank you for another very informative video on Reverse mortgage line of credit its getting me closer and closer to closing the deal on HECM reverse mortgage . You are so far the most knowlegeable when it come to this topic Rod

[@reversemortgageeducation]

Appreciate that Rod. And my pleasure!😊

[@the-hollywood-dog-says-6072]

Thank you, Taryn! You answered some questions I have been wondering about.

[@reversemortgageeducation]

My pleasure! Always happy to know these videos are helping.

[@christopheraquino9214]

You say that the line of credit grows, but you don't say why it grows. Also if the line of credit doubles in 10 years, when it doubles, can I take it all out pay off the loan and still have the same sum that I borrowed , left over, free and clear?

[@reversemortgageeducation]

Hi! The line of credit grows because that is how the federal regulations require the loan work. It’s probably due to the fact that your home is assumed to appreciate over time. So, they are comfortable having your credit line grow because of that assumed appreciation. To your other question, keep in mind that as you pull a sum of money out of the line of credit, it gets added to your loan balance. So, if you were to pull all of the money and the growth out, all of that money would be added to the amount you owed. If you turned around and just paid that back into the loan, you would simply just be paying the money back that you just withdrew. It would be a wash. The line of credit growth isn’t interest. It is just the credit limit increasing by a certain percent each year. Hope that helps!