Reverse Mortgage Fund Your Golden Years Reverse Mortgages Offer FreedomYou deserve to enjoy your retirement years. A Home Equity Conversion Mortgage (HECM)also known as a reverse mortgagecan help you find the financial freedom you need.Well cover the basics to help you decide if its right for you.What is a HECM and how does it work?A HECM is a federally insured reverse mortgage that offers borrowers more protection than non-HECM loans. HECMs use home equity to pay your outstanding mortgage while eliminating your monthly mortgage payments.* Depending on how much equity you have, a HECM can also provide extra funds as a lump sum or line of credit.        Available to borrowers 62 and older (non-borrowing spouses may be younger)        Available for primary residences        Borrower retains full ownership        Doesnt prevent the home from being passed to heirs       Loan repayment is never more than the value of the property*Borrower must continue to pay property taxes, homeowners insurance and maintenance costs.Will HECM income affect my retirement benefits? HECM funds are considered loan proceeds, not income, so they wont affect Social Security payments. However, needs-based programs such as Medicaid and Supplemental Security Income may be affected.How can you use a HECM? A HECM isnt just for those experiencing financial hardshipalthough it can certainly help in those situations. These loans can also help those doing well achieve more.You can use a HECM to:       Pay off existing mortgage and eliminate monthly mortgage payments*       Pay for everyday living expenses and or       Pay for a home remodel       Cover health care costs and/or provide for in-home care       Pay for the trip of a lifetime        Fund a grandchilds school tuition       Fund investments and/or long term care policy       There are no restrictions on how you can use the funds       Silver divorce       Fund the purchase of a new home  What if Im ready for a new home?We also offer a HECM for Purchase loan that lets you buy a new home without incurring monthly mortgage payments. This is a great option if you need to move to a smaller home, find one that is single-level or upgrade to a home with room for family. Who repays a HECM loan? A HECM doesnt need to be repaid until the borrower (and non-borrowing spouse) permanently leave the home. In most cases, HECMs are repaid by selling the home once the borrowers no longer live there. Neither you nor your heirs will be responsible for repaying more than the value of the home. We now have new proprietary (non-government) reverse mortgage options (minimum home value $400K) available to borrowers age of 55+ with some very exciting new benefits!A reverse Mortgage can improve your life, but there are many considerations.  If youd like to learn more about how a reverse mortgage can help you or a loved one meet financial goals, contact us today.  **This ad is not from HUD or FHA and was not approved by HUD or any government agency.**The loan is subject to foreclosure for failure to pay taxes and insurance to maintain the property and insurance and to comply with the terms of the loan.**Consumers remain responsible for property taxes, homeowners insurance, and home maintenance.  

8 Ways to Pay for Assisted Living in Denver ColoradoFiguring out how to pay for assisted living can be terrible, but its also unavoidable. A little preparation can go a long way. If you arent prepared to pay out of pocket, then you should probably reach out to our team of local experts who can help you explore in more detail the ways you can pay for Assisted Living.Eight Ways to Pay for Assisted living in DenverAt Stacy's Helping Hand, Inc we advise families with the following eight ways to cover the costs of assisted living in Denver:1.Plan Ahead and BudgetWhile this seems smart, most people do not put the money aside. Life can be hectic and unexpected. For those who are planning on the unexpected well ahead of time might also consider2.Long Term Care Insurance (LTCI)Long term care insurance is for the lucky few people whove prepared and put the money aside for the specific purpose of needing it for long term care in the future. While this is a great benefit to have built-in to your plans, the benefits vary dramatically from one plan to another. Payouts range from $50 to $300 a day and are contingent on meeting certain diagnoses. LCTI may not be an option due to policy requirements, but many people have another form of insurance that can be useful.3.Your Existing Life Insurance PolicyMany life insurance policies allow you to cash-in for accelerated benefits that you can use while you are still alive. Even for plans that dont have this option, you can transfer the plan to another policyholder that will offer cash out option. Your life insurance is like a deferred Annuity that you created a long time ago and forgot about, but if you didnt get life insurance when you were young, you can still get an4.Immediate AnnuityAnnuities can be pretty tricky business. You shouldnt consider one unless you are using the guidance of a financial advisor who is looking out for your best interests. In the case that an annuity isnt an option, many people can still5.Sell, Rent or Reverse Mortgage a HomeMany middle class Americans dont have much retirement savings to speak of, but they do own homes. Home ownership has been an especially valuable source of retirement savings for seniors in the Denver Metro area. As a result of appreciating home values and rising rent, seniors can sell, rent or reverse mortgage their homes to help pay for assisted living. If the need for money is more immediate and assets havent sold yet, people can get a6.Bridge LoanFor those who need cash now, but need time for their valuable assets to sell, such as their home, a bridge loan can help seniors pay for Assisted Living Facilities to fill the gap between when they need cash and when they have cash from their sale. For those who dont have as much cash or income, there are still options such as7.SSI/Medicaid/InnovAgeMedicare and regular Medicaid doesnt cover long term care such as Assisted Living, but if you dont have savings or assets, you can apply for a Home and Community Based Services (HCBS) waiver through Medicaid. In the Denver area, there is an organization that can help people who need Colorado-specific Medicaid through the government-backed non-profit InnovAge. You apply for Medicaid through the InnovAge program, and they handle your case. For more complicated cases or if you want someone to hold your hand through the process, a Medicaid specialist such as a local Colorado company, Helping Hands Consulting is a good idea.The typical Medicaid payout is $700/month but assistance goes as high as $2,250/month and supplements SSI and SSDI. Medicaid wont entirely cover the cost of Assisted Living, but it can make a large dent. Only some assisted living communities will accept Medicaid, and Medicaid beds are usually limited, but either way, seeking professional help throughout the Medicaid process can alleviate the stress and ensure that all the information is provided when the application is submitted.8.VA BenefitsVeterans benefits can be used to pay for residential care in a variety of situations. One set of benefits is available to those with service-related injuries or disabilities; another set of benefits, known as Aid and Attendance, is available to any veteran or surviving spouse whos disabled and whose income is below a certain limit.Receiving Medicaid and VA Benefits can be a tricky and time-consuming process. If you reach out to us today, we can help you navigate these complex systems and find you the right Assisted Living facility for your needs in the Denver Metro area.Finding the best Assisted Living community options for seniors is our specialty. If you have a question about Assisted Living in Denver CO metro area, give us a call at the number above.

Reverse mortgages can be a great way to invest in real estate for potential homebuyers who are 62 years and older. You will be able to borrow against the equity to get credit or a line from a lender to purchase your new home. In some cases repayment is only necessary if you or your heirs sell the property and often there are no monthly payments required on the loan.If youre still on the fence about reverse mortgages, or maybe you feel you just dont have all the information, dont worry. We have outlined a list of pros and cons about reverse mortgages to help you make an informed decision.Pros of Reverse MortgagesMeeting different financial obligations can be tough, especially monthly mortgage payments. The reverse mortgage can help one stay afloat in tough economic conditions. Here are some reverse mortgage pros you should know about.1.     Can Help Secure Retirement for YouA reverse mortgage is a great option for any retirees that may not have a lot of investments or cash savings but have wealth built up in the form of the equity in their home.  A reverse mortgage may be able to help you turn your real estate asset into cash or a line of credit. You can use this to cover your expenses during your retirement period.2.     Can Still Stay at HomeUsually, you have to sell off your home if you want to liquefy the asset, but a reverse mortgage can help you stay in the home and receive cash as well. You dont have to downsize or move out with reverse mortgages. For the elderly, moving can be a nuisance as well, which is why getting to stay at home can be great.3.     Can Pay Off Any Existing Home LoansIn many cases you dont have to completely pay off the home if you want to take out a reverse mortgage on your home. You can use the cash or line of credit you get to pay off any loans you have on the home. This can help you free up monthly money that you can use for other expenses.4.     Protection in Case Balance Is More Than Homes ValueSince it is a loan advance, a reverse mortgage typically only needs to be paid off the loan when you or your heirs decide to sell the property. If the homes value ends up lower than the amount you received through the reverse mortgage, you will be protected. Home prices can fall, or the value of the neighborhood could go down. So in a worst-case scenario, (and in most cases) you dont have to worry about your heirs having to pay off the extra amount at all.Cons of Reverse MortgagesWhile there are numerous benefits to taking out a reverse mortgage, you should also be mindful that there are some cons too. Here are some risks that you should consider carefully before taking out a reverse mortgage.1.     Risk of Losing Home Through ForeclosureOne common requirement of qualifying for a reverse mortgage is that the person applying for a reverse mortgage can afford the homeowners insurance, property taxes, HOA fee, and any other costs that come with owning the house. Homeowners also need to live in the house as a principal residence.Homeowners who dont pay all these expenses or dont live at the property are considered to have an increased risk of losing the home in a foreclosure.2.     Can Impact Other Retirement PlansWhile reverse mortgages are typically not taxed since they dont count as income, they can still impact your access to other government plans such as Supplemental Security Income and Medicaid. You should make sure to discuss this with an expert to ensure your eligibility for these benefits isnt compromised.Should Homeowners Get a Reverse Mortgage?Reverse mortgages arent necessarily for everyone, but they can be incredibly helpful in the right situation. They are great for people whose homes are increasing considerably in value, or you if plan on staying in the home in the long run. You should also be able to cover the general costs for the house, which will require some kind of cash flow.Homeowners should weigh the reverse mortgage pros and cons heavily and consult with professionals before taking one out. Give  yourself more options Find out if a reverse mortgage is right for you.   Maria Casado Mortgage Loan Originator | NMLS #1913708 Reverse Loan Solutions Division of Amerifund Office: (805) 296-1470 Direct: (202) 812-3024 Email: maria.casado@reverseloansolutions.com Website: www.reverseloansolutions.com