Episode 94: Why Is A Reverse Mortgage A Great 👍 Idea 💡 For Anyone 55+?!

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Today’s Show:

Have you ever heard of a reverse mortgage? Did you know that if you or your spouse are over the age of 55 you could qualify for one? There are a lot of misconceptions about Reverse Mortgages and we are here today to put an end to those. Our expert guest Tara Krieg in the studio to help explain what exactly a reverse mortgage is, what the requirements are, and some of the pros and cons about them. Tara is the Sr. Mortgage Loan Officer at AmeriFirst Financial and has helped many families with Reverse Mortgages including her own!

Want to learn more? Check out this article on Reverse Mortgages: https://integrityallstars.com/top-pros-cons-of-reverse-mortgages/

Listen & Learn:

1:08 – Rebecca intros Tara Krieg
4:00 – Cons of Reverse Mortgages
9:38 – Tara’s outline on Reverse Mortgages
11:00 – Rebecca’s real-life example
13:03 – What is a HECM?
14:45 – What is a NBS?
16:11 – Tara’s real-life example
17:47 – Do you have to be married to get a HECM?
19:45 – What is capacity & willingness?
22:50 – Protecting mature Americans
24:30 – Eligible properties for HECM
25:00 – Who is an ideal candidate for a HECM loan?
27:47 – Tara’s personal example of a reverse mortgage
30:54 – What is the principle limit?
32:05 – What is the difference between a HECM vs a FHA/VA loan?
33:45 – Tenure payment vs line of credit
35:56 – The “catch” to having a reverse mortgage
37:40 – Rebecca’s closing

Special Guest:

Tara Krieg – Senior Loan Officer at AmeriFirst Financial

Licensed to provide mortgages and loan programs for homeowners and buyers within Arizona, she has over 12 years’ experience in all aspects of real estate finance, real estate investing, mortgage planning, and business planning. Her specialties include loan origination, credit education, mortgage related financial consulting and planning, and personal coaching of Junior Loan Officers.

Phone: 480-344-1951
Email: tkrieg@amerifirst.us
Website: www.tkteam.us