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"Do-It-Yourself" ("DIY")
the activity of doing something without professional training or assistance from certified experts.
broadly: an activity in which one does something oneself or on one's own initiative and time.
Do-It-Yourself Reverse Mortgage ®
Who should use this website?
- A Prospective Borrower - homeowner(s) 55 years of age or older,
- The Prospective Borrower's family - usually the Borrower's children or siblings,
- The Prospective Borrower's "Trusted Advisors" (friends, attorneys, tax professionals, financial planners, financial institutions, caregivers, et al.).
Now you can learn about Reverse Mortgages and the benefits for a specific Prospective Borrower and their home on your own time and at your own speed, and with no pressure from salespeople. And there is never any cost or obligation.
A Reverse Mortgage is not mysterious – it is just a different type of refinance or purchase mortgage loan, about which many people are curious and here is an easy way to learn.
A Reverse Mortgage may not be for everybody, but everyone should know about it, and this is an easy way to learn.
The modern Reverse Mortgage is a highly evolved, flexible and comprehensive financial planning tool and some of its features and benefits include:
- Pay off the current mortgage(s) (if any) with no monthly payments required,
- Take cash-out, and/or set up a line-of-credit, or receive monthly payments,
- Use the cash-out and/or the line-of-credit without limitations:
- Have a financial safety net for medical expenses or other emergencies,
- Eliminate financial support from family members,
- Pay for home improvements (to "age in place"),
- Pay-off non-mortgage debt,
- Extend retirement assets by not selling in a down market,
- Fund a family member's education (grandchildren?),
- Refinance an existing Reverse Mortgage,
- Take vacations (finally!)
- Fund a lifelong dream or other things.
The following Reverse Mortgage Education Section provides basic knowledge which is needed to work with and understand the Reverse Mortgage Simulator™ Section that follows.
Then, the Reverse Mortgage Simulator™ Section provides educational information about a Borrower's estimated Reverse Mortgage on their primary residence.
To get started, please CLICK BELOW to Register as a User so that you can come back into the website in the future and start up where you have left off in a prior session or to obtain a current estimate of a Borrower's specific Reverse Mortgage using the Reverse Mortgage Simulator™.
