Reverse Mortgage

A Reverse Mortgage is a wonderful retirement tool. Often this is the last tool needed for a stress free
retirement!

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Reverse Mortgage - Reverse Mortgage (known as a HECM- Home Equity Conversion Mortgage)
is a FHA (government insured) loan. A Reverse Mortgage is a loan that allows the senior who
lives in the home and qualifies to access a portion of their equity without being required to
make a monthly mortgage payment for as long as they live in the house and keep their property
taxes and homeowners insurance current.

A Reverse Mortgage proceeds are tax free, not considered income and generally do not affect any
benefits. Cash out from a Reverse Mortgage is not considered income, because the homeowner is
paying interest on the loan. However, every financial situation is different and in some cases, cash out
from a Reverse Mortgage can affect Government Benefits, not because of income, but rather balances
in bank accounts. Sierra Reverse Mortgage always encourages a consult with a financial advisor.

1. Eliminate mortgage payment
2. Delay social security
3. Create income for a fixed monthly budget
4. Tax free income
5. Will not affect benefits
6. Still own your home
7. Government Loan – FHA
8. Relaxed qualifying guidelines

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