Charles Butler’s Post

Reverse Mortgage Myths and Misconceptions 👉Many myths regarding reverse mortgage loans circulate and can steer homeowners away from a great loan option. Unlike typical home loans, reverse mortgages allow you to convert part of your home equity to cash, as long as you are 62 or older. 👉One of the few questions that I get asked is, the bank or lender takes ownership of my home since I am not making any mortgage payments. Myth: The Lender Takes Ownership of My Home ✅ Fact: You retain title to your home as long as you meet the loan guidelines and requirements such as: maintaining the property, paying all property charges such as property taxes, homeowners insurance, flood insurance, and homeowners association dues (if applicable), and avoiding extended absences from the home longer than six months.  As with any other mortgage, a lien is placed on the property to secure future repayment of the loan. 👉When it comes to reverse mortgage loans, the fact is that they are a powerful financial tool that can be an important part of your overall financial plan. From paying off an existing mortgage to delaying social security, or even creating an emergency line of credit, it’s a flexible product that gives you options. In fact, many financial planners have begun to discuss reverse mortgages with clients who need additional sources of retirement funding. ✅ If you would like to learn more about reverse mortgages or if you would like a free consultation and proposal, please contact me directly. ✅️Here at New American Funding Reverse Mortgage I can assist those in Washington, Oregon, Texas and California states to find a solution to your financial needs. I will help you move from opinion to knowledge, and then from knowledge to understanding so you can be confident that the solution you choose will be an educated one. New American Funding Reverse Mortgage CHARLES BUTLER Reverse Loan Consultant NMLS# 2262315 Website: https://lnkd.in/gNYRd3b4 #moneytips #howmoneyworks #financialadvisors #seniorliving #reversemortgages #financialplanning #retirementplanning #hecm Charles Butler #homeequitylineofcredit #heloc #washingtonrealeastate #californiarealestate #oregonrealesate #trending #inflationreductionact #mortgages

Reverse Mortgage Myths Clearing up Common Misconceptions Reverse mortgage myths are very common and reverse mortgages are different than a traditional forward mortgage, therefore many people are afraid of them. Few people have studied the benefits and the guidelines but are quick to dismiss what they don’t understand.   For some homeowners over 62 years old, a reverse mortgage can be a great option for improving retirement finances and quality of life. There are, however, quite a few misunderstandings when it comes to these complex financial products.   Here are some of the most common misconceptions about Home Equity Conversion Mortgages (HECMs) also known as reverse mortgages and the truth behind these myths. 👉Myth 1: "I will lose my home" ✅False: As the borrower, your name remains on the title and the home is still yours just as it would be with any mortgage. You’re required to continue paying real estate taxes, homeowner’s insurance, and providing basic maintenance to your home.   👉Myth 2: "I could wind up owing more than my house is worth with a reverse mortgage and leave my heirs with debt." ✅False: A reverse mortgage is insured by the Federal Housing Administration. This insurance feature guarantees that you will never owe more than the value of your home when the loan becomes due. No debt will be left to your heirs. 👉Myth 3: "Reverse mortgage should only be used as a last resort." ✅False: It’s never a good idea to make a financial decision under stress. Waiting until a small issue becomes a big problem reduces your options. If you wait until you are in a financial crisis, a little extra income each month probably won’t help. Reverse mortgages are best used as part of a sound financial plan, not as a crisis management tool.   👉I believe that knowledge is power and that you should make your decisions based on facts rather than myths. If you have any questions, I am here to help! If you would like to learn more about reverse mortgages or if you would like a free consultation and proposal, please contact me directly. ✅Here at New American Funding Reverse Mortgage I can assist those in Washington, Oregon, Texas and California states to find a solution to your financial needs. I will help you move from opinion to knowledge, and then from knowledge to understanding so you can be confident that the solution you choose will be an educated one! New American Funding Reverse Mortgage Charles Butler Reverse Loan Consultant NMLS# 2262315 #howmoneyworks #reversemortgages #financialadivsors #californiarealestate #washingtonrealestate #seniorliving #retirementplanning #trending #moneytips #oregonrealestate #texasrealestate #finance #wealthmanagement #economy #investing #financialfreedom https://lnkd.in/gUKQM7Qq

Did you know that a reverse mortgage is a non-recourse loan? 👉Reverse mortgages have become an increasingly popular financial tool for seniors age 62+ looking to tap into their home equity without the burden of monthly mortgage payments. One crucial aspect that distinguishes reverse mortgages from traditional home loans is the concept of “non-recourse.” 👉The non-recourse feature offers an additional layer of protection for seniors and their heirs and can safeguard homeowners’ financial well-being. 👉In the context of reverse mortgages, non-recourse means that if the loan balance becomes greater than the value of the home when it is sold to repay the loan, the lender cannot seek additional repayment from the borrower, their estate, or heirs. This protects borrowers and their families from being held financially responsible for any shortfall between the loan balance and the home’s sale proceeds. This feature is not included on many traditional mortgages. If someone passes away with a mortgage balance greater than the value of the home, the lender can go after other assets to make up the difference. This is an additional reason why seniors who carry a mortgage balance into retirement should consider a reverse mortgage. Benefits of Non-Recourse in Reverse Mortgages: ✅Asset Protection: Non-recourse ensures that the homeowner or their heirs other assets are not at risk in the event of a decline in home values or an increase in the loan balance. ✅No Debt Burden for Heirs: The heirs of the borrower are not responsible for repaying any remaining loan balance that exceeds the home’s value. They can inherit the home without the burden of mortgage debt. ✅Market Fluctuations: In a volatile housing market, non-recourse provides a safety net, shielding borrowers from the negative impact of a decline in property values. ✅Foreclosure: If the home falls into foreclosure and the lender takes control of the sale of the property, if the home is sold for more than the balance of the loan, any additional funds will go to the homeowners’ heirs as spelled out in their will or trust. The lender is only able to collect the loan balance and no additional funds. 👉Non-recourse is a vital safeguard in reverse mortgages, offering peace of mind to seniors seeking to unlock their home equity. ✅Here at New American Funding Reverse Mortgage I can assist those in Washington, Oregon, Texas and California states to find a solution to your financial needs. ✅Contact me today to learn more! Website: https://lnkd.in/gUKQM7Qq New American Funding Reverse Mortgage Charles Butler Reverse Loan Consultant NMLS# 2262315 #howmoneyworks #financialfreedom #seniorliving #financialplanning #retirementplanning #oregonrealestate #washingtonrealestate #texasrealestate #californiarealestate #moneytips #wealthmanagement #financialadvisors #reversemortgages Charles Butler #homeequitylineofcredit

Funding long-term care with a reverse mortgage: Why more elder care attorneys are recognizing the benefits. 👉Did you know that a reverse mortgage can be used to pay for long-term care, such as home care, assisted living, memory care, nursing home care, and out-of-pocket medical expenses. Married couples can use the monthly payments from a joint reverse mortgage to offset long-term care costs. 👉Seven in 10 of today’s 65-year-olds are expected to need some type of long-term care before the end of their life. The larger challenge is that most Americans lack long-term care insurance to finance growing health needs, which can devastate their retirement savings. 👉Because of the costs, reverse mortgages are also best suited for a situation where you plan to stay in your home long-term. They don’t make sense if your home isn’t right for aging in place or if you plan to move in the next three to five years. 👉The $6.5 trillion in home equity owned by households with a member age 62 or older can serve as a viable funding source through a Home Equity Conversion Mortgage (HECM), also referred to as a reverse mortgage loan. ✅ If you would like to learn more about reverse mortgages or if you would like a free consultation and proposal, please contact me directly. Website: https://lnkd.in/gUKQM7Qq ✅Here at New American Funding Reverse Mortgage I can assist those in Washington, Oregon, Texas and California states to find a solution to your financial needs. I will help you move from opinion to knowledge, and then from knowledge to understanding so you can be confident that the solution you choose will be an educated one! New American Funding Reverse Mortgage Charles Butler Reverse Loan Consultant NMLS# 2262315 #howmoneyworks #financialplanning #longtermcare #trending Charles Butler #seniorliving #estateplanning #retirementplanning #retirementliving #inflationreductionact #healthcare #aginginplace #washingtonrealestate #californiarealestate #oregonrealestate #texasrealestate #reversemortgages

Reverse Mortgages and Long-Term Care for Seniors 👉Planning for the care of a loved one can be a daunting task. Families typically start to consider what type of long-term care may be needed whether their loved one can remain at home with a caregiver or if they’ll need to move to an assisted living or memory care community. But oftentimes, the difficult part comes when figuring out how to pay for it. While selling a home is commonly used to pay for long-term care, a reverse mortgage may be more helpful if your loved one plans to remain in their home. 👉For many, your home is your greatest asset, so it only makes sense to tap into your equity to cover expenses like in-home care or compensating loved ones who care for you. A reverse mortgage could be a great way to get the money you need! Did you know that Reverse mortgage proceeds are tax-free and can be used to cover the cost of your care while you continue to live in your home. ✅️FACTS ABOUT AGING 👉70% of those 65+ will need assistance at some point 👉43.5 million family members provide unpaid care for loved ones 👉25% fewer doctor visits occur when home care is in place 👉Aging in place has been shown to have health and emotional benefits over institutional care. 👉Many incorrectly believe that medical insurance will cover in-home, long-term care. ✅️REVERSE MORTGAGE BASICS 👉You must be 62 or older 👉The reverse mortgage must be for your primary residence 👉You pay no monthly mortgage payments as long as you continue to pay property taxes, homeowners’ insurance, and home maintenance costs. Contact me today to learn more about our reverse mortgage options! ✅️Here at New American Funding Reverse Mortgage I can assist those in Washington, Oregon, Texas and California states to find a solution to your financial needs. I will help you move from opinion to knowledge, and then from knowledge to understanding so you can be confident that the solution you choose will be an educated one. "I'm not just a Reverse Mortgage Consultant, I'm also your neighbor!" New American Funding Reverse Mortgage CHARLES BUTLER Reverse Loan Consultant NMLS# 2262315 Website: https://lnkd.in/gUKQM7Qq #howmoneyworks #retirementplanning #seniorliving #seniorcommunity #seniorhousing #financialfreedom #financialplanning #financialadvisors #reversemortgages #nafreverse #naf360 Charles Butler #homecareservices #inhomecare #inflationreductionact #hecm #washingtonrealestate #texasrealestate #californiarealestate #oregonrealestate #washingtonrealtor #reversemortgage #newamericanfunding #investment #investmentrealestate #refinancemortgage #trendingnow

Financial setbacks in the past? That doesn’t mean homeownership is out of reach! ✨ We get it, life happens. Credit card debt, late payments, high-interest loans… we’ve all been there. But don’t let those bumps in the road keep you from achieving your dream of owning a home.  Here’s the good news: With the right plan and a bit of patience, homeownership is still possible! Focus on boosting your credit score, cutting down debt, and setting aside savings for a down payment. We’re here to help you navigate the process step-by-step. From custom strategies to improve your credit to finding the best loan options, we’ve got your back!  Don’t let past financial challenges hold you back from the future you deserve! Your dream home is within reach. ✨ DM us or give us a call to see how you can qualify for a mortgage; even if you’ve faced financial setbacks before! #FinancialFreedom #HomeOwnershipJourney #CreditRepair #FirstTimeHomeBuyer #DreamHome #MortgageHelp #HomeGoals #YourHomeAdvisor #YourFavoriteLenders #OrangeCounty #Anaheim #PropertyInvestment #Troubles #HomeBuyingJourney #LoanOfficers #DontWorry #TheresAChance

Whether you're looking to lower your monthly payments, reduce your loan term, or tap into your home equity, there's no better time to make your move. Did you purchase your home with Atlantic Bay on or after 10/17/22? You may be eligible for Atlantic Bay’s Lend It Back program! Contact me to learn more about this saving opportunity. #LendItBack #Refi #Refinance #RefiReady

🌟🙏🏾Blessed Evening Everyone, 🏡🗒️Announcing the next Buy Your Home Program soon. 😥 we are are more reactive than anything else. 🧭💵 Only when we lose our jobs do we then appreciate what earning a consistent income means. 🏚🧱Only when we stand the chance of being evicted because we didn't pay our increasing home loan do we now feel like we should've owned our own home. 🌐📱Time to stop reacting and start planning better. ⏳ It's time to shift from reacting to planning for a secure future! 💪🏡🏢 #BuyYourHome #FinancialPlanning #Stability #DreamHome #ReactLessPlanMore #FutureReady #HomeownershipJourney 🏡🙏🏾🙏🏾

Unlocking a different path to homeownership! 🏡 In this video, we’re breaking down Asset Depletion Loans – perfect for those with significant assets but irregular income! 💰 Whether you’re self-employed, retired, or have non-traditional income, this loan could be your key to the home of your dreams. 🙌 Curious about how it works and if it’s right for you? Watch the full video to get the inside scoop! 🎥 Tag someone who might benefit from this or drop your questions in the comments! ⬇️ #AssetDepletionLoans #HomeBuying #Mortgage101 #BoiseRealEstate #YourBoiseGuide #RealEstateTips

Presidents Day is a reminder that hard work pays off. Fortunately, we do that hard work for you. As you search for your perfect home, I'll search for competitive loan options to ensure a fast and easy homebuying process for you. Let's get started today! #thesmoothlender