My New Blog

Dear Homeowner,

Everyday the cost of living goes up. Fuel prices are through the roof and the cost of consumer goods has increased. Prescription drug prices and medical care costs are astronomical and yet Medicare and Medicaid funds are shrinking.

However, there is one government sponsored program in effect and working for millions of senior citizens; the reverse mortgage. The Home Equity Conversion Mortgage (HECM) allows seniors to tap into their one greatest single asset; the equity they have in their homes. This helps seniors maintain a truly dignified style of living. By using the HECM program, you can access funds without giving up your home. You can pay off existing loans, do home improvements, cover the cost of home health care or transportation, enjoy a vacation, help grandkids with college tuition, or just pay the grocery and utilities bills without wiping out the checking account. Many seniors who do not need the additional funds use a reverse mortgage as a tool in their estate planning.

The reverse mortgage business had a bad reputation in the past, but strict government regulations and the influence of the AARP has made the reverse mortgage a fantastic tool that has helped millions of American seniors. We are required to provide counseling, through an independent third party, like the AARP, to all borrowers before your loan is completed. We recommend that you include all interested parties; including heirs, or financial advisors.

HECM loans are easy to qualify for with: no credit and no income requirements. You must be over 62 years of age, have a valid SSN, have photo ID, live in the property as the primary residence and maintain the insurance, taxes and physical property. There are no out of pocket expenses for the borrower all costs can be paid from escrow. Then the best part of this program: as long as the borrower lives in the home they never make any payments and a reverse mortgage does not affect your Medicare or Social Security benefits.

Sounds too good to be true, doesn’t it? To find out more call or e-mail us today.

Please feel free to contact us even if you just have questions.

Thank you,

Lou Fifield LFifield@TrueCompassLending.com

Brian Pierce Brian@TrueCompassLending.com

Toll Free 888.432.6101 888 HECM.101

TrueCompass Lending Corp

8215 SW Tualatin-Sherwood Road, Ste 200-35, Tualatin, OR 97062