Page 15 - NFS_Your Guide to a Better Retirement
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5 Build a stronger safety net. 8 Protect my portfolio in a down market.
The best defense against unexpected
Instead of being forced to sell an investment in
expenses, such as medical emergencies, a down market, you could wait for the market to
sudden market downturns and other life rebound by using proceeds provided by a reverse
events, is to ensure you have financial mortgage to make up any shortfall.
resources standing by to deal with them. Create a lifetime income stream
6 Gain greater peace of mind for my 9 for my family and me.
A reverse mortgage gives you multiple payment
long-term healthcare needs.
By creating a reverse mortgage line of options, including monthly disbursements for life
credit, which grows over time, you can have as long as you live in your home**.
money for your care when you need it. Pay off other debt, like high-interest credit cards.
7 Purchase another home 10 Using a reverse mortgage to pay off credit cards
that will better fit my needs.
or other high-interest debt may prove a sound
Instead of using all cash, put down only financial strategy. What a reverse mortgage shouldn’t
a portion of the purchase price (from be used for, is an excuse to overspend or avoid
your previous home’s sale or from other addressing what caused the debt in the first place.
savings and assets) and use a HECM to
cover the rest, leaving you with no future **Available with Tenure-Based or Modified Tenure plans, so
long as Borrower does not default on the loan. Borrower must
monthly mortgage payments*. maintain home as principal residence, pay all taxes, insurance,
maintain the home, and comply with all other loan terms. With
*You must continue to maintain your property, pay Modified Tenure plans, lender will set aside a specific amount of
property taxes and homeowners insurance, and money for a line of credit.
otherwise comply with all loan terms.
Your Guide to a Better Retirement 15
