CHICAGO, IL -- 'And you'll never have to make another mortgage payment for the rest of your life!' With foreclosures gripping the nation, many "baby boomers" & senior citizens are finding themselves also falling-behind on their monthly mortgage payments. Sometimes it's due to an upwardly-adjusting interest rate on their existing "forward," or "regular" mortgage. Or, maybe they simply don't have enough money saved for their retirement.
Well, in speaking with Scott Tucker, reverse mortgage expert & author, I learned that baby boomer & senior citizen home owners can actually save their homes from foreclosure, by paying-off their existing "forward mortgage," with a reverse mortgage. And that reverse mortgages never have a monthly mortgage payment to make!
"What's so exciting about reverse mortgages, is that you can use them to 'knock-out' your existing 'forward mortgage!' The mortgage that you have now, that's causing you to have to make an expensive monthly mortgage payment!" said Tucker.
Tucker continued, "See, with a reverse mortgage, you borrow a sum of money, that can pay-off your existing 'forward mortgage,' 'knock-out' its monthly payment, and the reverse mortgage never has a payment for you to make! You'll never have to make a mortgage payment for the rest of your life!"
"Some think they risk their house with a reverse mortgage, but that's not so! In fact, it couldn't be further from the truth! A reverse mortgage can never cause you to lose your house. And you can still pass your house on to your heirs with a reverse mortgage too!" says Tucker.
"With a reverse mortgage, your heirs get the house, with equity still left in it! See, this is federally-insured & regulated by the FHA, so you can never go 'upside-down' with a reverse mortgage, like you could with a 'forward,' or 'regular' mortgage! And your heirs can pay-off the reverse mortgage from a simple life insurance policy you set-up! Or they can sell the house, and still have money left-over in your home's equity to pay the realtor!" says Tucker.
Tucker continued, "Besides, who among us thinks it's a great idea to spoil our kids with a free & clear house nowadays? I don't want a dime from my mom's house. And I think it's great that now there is a no-risk way for folks to better handle their financial affairs! And to live better in retirement! All via a tax-free, no-payment reverse mortgage! One that's federally-insured & regulated, and that can never cause their Social Security, pension, and/or MediCare to be reduced either!"
Tucker is available for TV & radio interviews nationally, same-day. Please contact him at http://www.reversemortgageguest.com/ with your interview request. Scott Tucker is the author of Reverse Mortgages ... from Z to A, set for release spring 2009.
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Source: Scott Tucker
CONTACT: Scott Tucker, Author, Reverse Mortgages ... from Z to A,
+1-773-230-2682, Fax, +1-773-327-2842, Scott@ReverseMortgageGuest.com
Web site: http://www.reversemortgageguest.com/
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