Home Equity Conversion Mortgage Specialists
Responding to
Senior Homeowners who want to remain living in their homes and are concerned about their future.
Our mission is to educate those senior homeowners who have available home equity how to convert some of that equity into cash money they don't know they may have available while continuing to live at home.
by using
MONEY IN THEIR WALLSTM
to help them create a Piggy Bank for meeting many current and future financial needs and desires,
while continuing to live in their home
with a more secure future and
more comfortably than they thought possible.
Website Focus
This website is an introduction to
a flexible financial strategy for senior
homeowners to consider when wanting to continue living in their home as long as possible with a minimum of financial challenge.
Website Recommended Reading Strategy
The first four menu bar categories, HOME, HOME EQUITY, CAN BE USED FOR and QUALIFICATIONS, are educational and can apply to many Home Equity Conversion Mortgages.
The fifth and sixth categories, HOME REMODELING and HEALTH CARE SELF-PAY, are two top market areas in a growing need for available Home Equity funds. The information at each drop down highlights these growing needs.
Two additional areas are highlighted in the seventh and eighth menu bar categories, FINANCIAL PLANNING and HOME FOR PURCHASE (H4P).
Welcome...
Thank you for your interest in learning about converting your Home Equity MONEY IN YOUR WALLS to accessible cash, referred to as a Home Equity Conversion Mortgage, also known as a HECM and a Reverse Mortgage.
We are not only specialists in Home Equity Conversions, but we are also customers and users of this life-changing option for senior homeowners.
As your Home Equity Conversion (HECM) specialists, we will personally walk you through the process, make sure you are fully informed, follow up after the fact and even go a step further to recommend trusted suppliers if you should have a need.
Allan Berger
Company Founder
HECM Loan Specialist
What Is A Home Equity Conversion And Is It Right Fit For You?
An option specifically for homeowners who are age 62 and older with home equity that may help you reframe and strengthen your overall long-term financial planning.
A Home Equity Conversion Mortgage (HECM) converts a portion of your home equity into easily accessible tax-free cash for meeting your needs and dreams. For many, it is their Emergency Fund Life Line, their "just in case", their Piggy Bank...
You Own Your Home...
You continue to own your home as long as you live in it!
The accrued HECM loan balance becomes due if you pass away; sell your house; no longer live there as your primary residence, or fail to meet your responsibilities to maintain the property, purchase homeowners insurance, and pay your property taxes. Whereas a HECM is an advanced loan from the equity in your home, the good news is that it does not have to be repaid until being deducted from the selling price of your home at the time you no longer claim your home as your permanent residence.
No Monthly Mortgage Payments and a Growing Money Tree...
That's right, no more monthly mortgage payments!
Unlike a traditional mortgage or typical bank home equity loan, when converting home equity MONEY IN YOUR WALLS to easily accessible cash with a Home Equity Conversion Mortgage, there are no required payments while you live in your home. Any interest and fees applicable to borrowed equity funds are added to the equity loan balance so that the loan balance increases over time. However, the available unused equity funds also grow monthly throughout the time you live in your home.
Homeowner "Piggy Bank" Dollars Grow with a
Home Equity Conversion Mortgage
Home Equity Conversion Comparative Examples...
What does your available cash with a HOME EQUITY CONVERSION MORTGAGE (HECM) look like at closing? Below examples compare the same home first with a mortgage required to be paid off from the available equity, if enough equity is available, and when the home does not have a mortgage needing to be paid off.
The above Cash Proceeds Remaining Available are the piggy bank's initial funding. This funding did not require personal deposits from the homeowners available cash. The homeowners already had this Money in the Walls, available equity just sitting there, not growing.
Without a HECM, the homeowners won't have access to this money until the house is sold. With a HECM, the piggy bank money begins growing at closing, currently approaching 7.0 % annually, and doubles in approximately 10 years.
