5 Requirements to Get a Reverse Mortgage To Fund Your Retirement

5 Requirements to Get a Reverse Mortgage To Fund Your Retirement

5 Requirements

to Get a Reverse Mortgage

To Fund Your Retirement

You’ve worked hard all your life and your planning for your retirement. The best way to do that is to have a solid, practical plan in mind. This calls for financial planning that is specific to you and your life.


First off, start with a list. Not unlike a grocery list. You know what you need and you know the few things that are a splurge you’ll get if the budget allows.

Ask yourself a few questions when making your list:

– What are your biggest priorities to have a comfortable retirement?

– What is your budget going to be like?

– Will you want to travel? If so, where and how often?

– How much do you want to leave your kids?

– What is your health like? Do you anticipate medical bills or increased insurance?

One financial product that can help you achieve your retirement goals is a reverse mortgage. If you qualify and if your home meets the criteria it can be a powerful financial planning tool for some families and individuals.

Just don’t be fooled by television commercials and magazine ads. There is much more to it than those sources suggest. Basically, owning a piece of property that is your primary residence can give you excellent options for funding your retirement.


It may be that you can leverage the equity you have in the home to make wise investments and ultimately help secure your desired lifestyle in retirement. You may even be able to do this without selling your home and moving elsewhere.

If you want the straight up details on reverse mortgages and wonder whether you should even consider one, here are 5 critical factors to know about a reverse mortgage:

1) A Reverse Mortgage is a Type of Home Equity Loan

The use of the term “mortgage,” which can be misleading. In reality, a reverse mortgage is a type of home equity loan. The amount borrowers can receive depends (to some extent) on how much equity is in their home.

With a reverse mortgage you are borrowing your own home’s equity. However, unlike regular home loans, no loan payments are due until the loan becomes due.

**To qualify for a reverse mortgage the home owner must have homeowner’s insurance, pay the property taxes and keep regular maintenance on the home.

These are things you probably already do but because the lender now has an interest in the property it’s a requirement to receive the loan.**


2) The Primary Borrower MUST Be 62 or over

The fact is, reverse mortgages aren’t right for or even available to everyone. One of the first questions you’ll be asked is how old the homeowner is. The borrower must be at least 62 years old.

Recent changes, according to the Consumer Financial Protection Bureau, now allow the younger (non-borrowing) spouse to live in the home should the borrower pass away first.

Although, it would be wise to have an attorney advice before moving forward with the signing.

3) The home MUST be the borrower’s primary residence

You can own additional property such as a vacation house. However, it means the home the reverse mortgage will be taken out on must be where the borrower lives most of the time.

4) One Day… The Loan Will Be Due

A reverse mortgage lets you live on (and enjoy) the equity you’ve built up in your home.

You can choose to use this loan for your living expenses in retirement or use it for other types of investments. Including, real estate and various financial products.

However, as with any loan, it must be paid back in the end. This happens when the owner dies or moves away from the home.

5) The Heirs

It’s important to note that your heirs have rights to the equity in the home. They can choose between keeping the home or selling it. There are conditions to each option though.

There are 2 options:

#1 – If the loan balance is less than the property value, they can take over the property by paying-off the loan balance. They can do this using cash or a new mortgage.

#2 – The heirs can sell the home and keep the equity remaining after paying off the loan.

However, if the loan balance is equal to or more than the value of the home, then the bank keeps the difference.

Your heirs then have the choice of paying 95% of the appraised value or the balance owed to keep the home, whichever is less. Or, they can choose to sell the home or let the bank keep it and owe nothing.

Is a Reverse Mortgage Right for You?

Statistically, less than half of all Americans are adequately prepared for their retirement.

That’s why the time is now to talk to someone who can help you figure it all out. You deserve to have a happy and stress free retirement.

The fact is this, you’ve spent years of accumulating equity in your home and it’s one of the most accessible sources of cash for retirement.

A secure future is within your grasp and Real Property Money Associates can help.

Real Property Money Associates has a group of dedicated individuals waiting to help you figure it out. Our consultations are always free.

We can help you plan a retirement strategy and help you understand exactly what a reverse mortgage is and whether it is right for you. Why? Because it’s not right for everyone.

We’ve lived and worked in the tri-state area all our lives.

We know the market. We know the mortgage business.

We’ve got connections with lawyers, realtors, insurance brokers and all the other professionals needed to get the loan done right.

Contact Bob Anselmo today –  516-850-1399


Crowdfunded Real Estate – Is it a Good Deal?

Crowdfunded Real Estate

Did you catch the latest episode of Shark Tank (Jan. 30/2015)?

Did you notice the pitch for a crowdfunded real estate company? The Sharks shut him down and accused it of being a scam. But is it?

Crowd funding and the internet now make it very convenient for people with a small amount of money and knowledge to get their piece of the property pie.

However, let’s look at some facts about the real estate industry and see the opportunities crowd-funded real estate really presents.

The industry which surrounds the financing of property is stuck in its ways and doesn’t like to change unless its forced to. It’s the underlying structure (the underwriting, if you will) that’s the foundation from which all property deals are built.

So, how exactly does traditional real estate investing work?

Well, at it’s core, the real estate industry is segmented and very inefficient. Investors have very few ways in which to access private real estate or the money necessary to buy it.

Most real estate investing deals come through word of mouth. The “old boys network” if you will. Of course, there are some women in that network but absolutely everyone privy to those deals has a lot of money.

Unfortunately, most investors don’t have $50,000 to $100,000 to put into just one property. This would prevent diversification.

So, how does the crowdfunding model apply to a real estate deal?

Most companies that offer crowdfunded real estate deals will have a website set up for potential investors to browse details on properties available for investing. Once a potential investor decides to invest the minimum required amount is usually between $1000 and $10,000.

Is crowdfunding particularly good for real estate investing? If so, why?

One of the main things crowdfunding does is eliminate most of the barriers and problems generally involved with traditional real estate investing.

However, you are also exposed to greater risk and less transparency of the real estate deal. The small investor in particular needs to be cautious with crowd funded deals.

Real estate investing is a time consuming endeavor. It’s expensive and requires skill and knowledge of the local property market. Do your due diligence thoroughly. If you don’t get your questions answered… don’t invest.

So, unless you’re willing to drop $100,000 into a single property and then actively manage and operate it, most properties are not a viable investment possibility for most people.

However, most crowdfunding platforms offer access that’s not always possible with traditional deals. It also greatly reduces the time and money requirements needed to invest in larger, traditionally funded deals.

Is crowdfunding the future of real estate financing and investing?

The real estate industry has a reputation of being slow to adapt to new technology. This has contributed to the fragmented, cumbersome and inefficient nature of dealings within the industry. That trend is changing.

However, we’re now seeing real estate become more adept at integrating technology into its transaction process.

As a result, we’ll continue to see greater efficiency, more transparency and much greater access in the real estate and finance industries. Crowdfunding will play a big part in that.

Recently,there have been interesting amendments passed and discussed within the JOBS Act in regard to crowding funding and real estate investment in general.

There is a monumental change happening within the real estate industry right now. It’s goal is to not only protect consumers but make buying property more accessible as well.

Contact us and learn more now… Email: admin@realpropertymoney.com

Deal or No Deal? Top 3 Questions to Ask…

Deal or No Deal? Top 3 Questions to Ask…

 Deal or No Deal?

Top 3 Questions to Ask…

Deal or no deal?!! Here are the top 3 questions to ask yourself and potential prospects about their property and financial situation to determine whether it’s a viable deal or not.

It all boils down to this…

For any real estate investment or financial transaction it all starts with THE 3…

#1 Buy or Refinance:

Did you want to buy a property or refinance an existing property?

#2 The Description:

What type of property is it? Where is it located?

Last but not least…

#3 The Money Questions:

How much money do you need? What will these funds be used for?

We ask our potential partners these inquiries. Please have this information ready when you call….

Call Bob Anselmo at 1-516-850-1399 For a FREE Consultation

Bob will answer all your questions. He won’t waste your time either. Within minutes he will know if we can help you or not… and we usually can.


Reverse Mortgages Are A Good Choice & Help For Flood Victims

Reverse Mortgages Are A Good Choice & Help For Flood Victims


Do you have a home which is paid off? If so, you can use this to your economic advantage without losing equity or out of pocket costs. For example…

Do you want to finance your daughter and son-in-law’s first home, renovate your basement or invest in the stock market or mutual fund? If so, a reverse mortgage could be the advantage you’re looking for.

It wouldn’t cost you, the homeowner, anything in terms of value on your home and there would be no upfront costs.

We’ve been creating and executing unusual deals like this for 25 years. So, this arrangement is right up our alley.

We have investors and building professionals who can help you get the job done. We can provide 100% financing on a property, as well as, the labor and expertise to execute the job.

Not many companies offer this combination of money and know how. We’re the total package.

So, find out how a reverse mortgage can create an amazing financial opportunity.

Additionally, if you need a private lender to give you a hand let us know. We can help get your financial Life back on track!

Call Bob Anselmo at 1-516-850-1399 For a FREE Consultation

Bob will answer all your questions. He won’t waste your time either. Within minutes he will know if we can help you or not… and we usually can.



Are you still suffering in the aftermath of Hurricane Sandy?

Was your home damaged or completely washed away during the store?

Are you still struggling to get insurance money? Do you have any insurance money coming at all? How are you living? Where are you living?

These are important questions and sadly many of the answers are tragic. We can help rebuild your Life and your home during this difficult time. Contact us to see how we can help you today.

Call Bob Anselmo at 1-516-850-1399 For a FREE Consultation

Bob will answer all your questions about reverse mortgages and hurricane and flood damage recovery. He won’t waste your time either. Within minutes he will know if we can help you or not… and we usually can.

Now Seeking Investors & Partners

Real Property Money Associates has an online outreach program where we seek investors and partners to join with in other states across the country.

If you are an experienced real estate investor we’re interested in connecting with you. Here is what you get from us:

We have relationships with our investment partners that have lasted over 25 years. Together, we have invested over $125,000,000 in small/medium size bridge loans on commercial, multifamily, mixed use and specialty use properties.

We have experienced underwriters. We use multiple criteria to determine a lendable situation. We never lend more that 60% of the as is value or more than 50% on the completed value of any property.

We always do our due diligence. We look at the overall indebtedness and credit worthiness of every borrower who must also have a valid exit strategy (usually within 12 months) for every deal.

If the above describes the type of RE partner you’re interested in then perhaps we should connect…

Call 1-888-370-0698


Email admin@realpropertymoney.com



**Right now, Real Property Money Associates are looking for investors/partners far and away…

First: We’re looking for investors who want to buy local distressed and “under valued” properties in the greater NY area. Then take those properties and use a buy, renovate and rent/hold business plan.

Second: We want to aide investors around the nation looking for funding for their local projects. These projects can be buy and hold or fix and flip options. They can even be strictly funding or refinancing deal as well.

Our Simple Buy/Hold Strategy Explained:

#1 Find distressed properties earmarked for a 20% to 30% return.

#2 Put down 50% up front and borrow the other 50% at a rate of 10%-12% annually (approx. 1% per month during the renovation phase).

#3 We refinance within 9 months and make 20-30% on the initial equity. Then we pick up the spread on the borrowed funds at 9% and net an additional 11%-21% off the loan…

This makes our entire ROI 30-40%. This is very doable. We’ve done it before and with this strategy we can either hold the property or sell and still see big numbers on the back end.

If reading the above strategies and opportunities gets you excited to work with us then give us a call or at the very least leave your email. We’ll get back to you ASAP.

Call 1-888-370-0698


Email admin@realpropertymoney.com