The New Reverse Mortgage Formula: How to Convert Home Equity Into Tax-Free Income

by T.R. Kelly

Book Overview

Many seniors have trouble making ends meet after retirement. Often their homes are their most valuable assets, but they can't access the equity they've accrued unless they sell. If you find yourself... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0471679569
• ISBN13: 9780471679561
• Release Date: March 2005
• Publisher: Wiley
• Length: 266 Pages
• Weight: 1.15 lbs.
• Dimensions: 0.6" x 7.5" x 9.2"

Customer Reviews

Be in the know with this book

This is a very comprehensive book about reverse mortgages. Important reading for senior looking to use the equity in their home with a reverse mortgage and for the individuals advising seniors on these loans. I highly recommend Tom Kelly's book.

A must read for any family member considering a Reverse Mortgage

The book is well reseached and written. It answered many questions I had. I was doing the research for my mother because I did not want her to be taken advantage of. I would highly recomend this book. It gives a good explanation of the features and benefits and if a reverse mortgage is right for you in your particular situation. We hardly had any questions when the reverse mortgage expert came out.

If you're a senior or know a senior you should read this book!

Putting the emphasis on "THE NEW" REVERSE MORTGAGE Mr. Kelly provides a comprehensive review of this valuable financial tool available to seniors. He lays out the cost and compares the options, dispelling the fears and myths that it is "too expensive". While pointing out that it may not be the best option for some, there are many seniors and mortgage professionals who can benefit from this information. There is a lot of misinformation and misunderstanding in the press and in the marketplace about this program. This book will help to set the record straight. With this good information seniors and their adult children can discover that they have more options and can make better choices. The New Reverse Mortgage programs now make it possible for seniors to stay in their homes long term while enjoying tax free income with no fear of foreclosure. If you are a senior or have parents who are seniors you should get this book and read it carefully to explore your options.

** A Must Have Book ** for any mortgage professional

You can't find many books on Reverse Mortgage's, let alone that are recent enough to talk about the changes that have gone on with the product. Tom Kelly does an excellent job explaining how they work, pro's and con's, customer stories and interviews with people in the industry. I recommend his book to everyone that is looking to get a Reverse Mortgage or prospecting entering the Reverse Mortgage field.

"MUST READ" for Anyone Considering a REVERSE MORTGAGE!

Think about it: tens of thousands of seniors are house rich and cash poor: they have all this equity locked up in their homes. Most people don't realize that they can't even qualify for a home equity loan -- not enough income or assets. TOM KELLY's new book HAS THE ANSWER FOR THE PARENTS OF BABY BOOMERS WITH THIS NEW BOOK! The dangers of the first REVERSE MORTGAGES ARE GONE: no one will EVER lose their home because of a reverse mortgage. THIS IS THE SOLUTION to allow MOM OR DAD to stay in the homes they love until their final days. They can cash in on the equity in their home and either have it available in a lump sum to draw down or get a steady stream of monthly income -- TAX FREE! Where I live many seniors are giving up their waterfront homes that they have lived in for 30 years or more because they can't afford the real estate taxes. THIS IS A GREAT BOOK, EASY TO READ AND TO UNDERSTAND - IT IS TODAY'S REVERSE MORTGAGE MADE EASY. Mr. Kelly lays it out honestly and directly and pulls no punches. Sure Reverse Mortgages can cost $10,000-$15,000 in closing costs -- but what would it cost your Mom or Dad to sell the home they love, move and buy a new one? A heck of a lot more! KUDOS FOR TOM KELLY on an ABSOLUTE MUST READ for anyone who is considering or helping someone consider a REVERSE MORTGAGE.