Page 1 - AAG042_Senior Care Flyer

Using Home Equity

to Fund In-Home Care

If you’re like many homeowners, your house is your greatest
asset. Like others, you may need access to additional funds to
supplement your health insurance in order to cover expenses like
in-home care. A Home Equity Conversion Mortgage (HECM) loan,
also known as a reverse mortgage, allows you to put your hard-
earned home equity to work for you. HECM loan proceeds are tax
1
free and can be used to cover the cost of your care needs while
you continue to live in your home.

HECM Loan Basics: The Facts:

3 3
Many incorrectly believe that medical insurance will
You must be 62 or better
3 cover in-home, long-term care 2
Your home must be your primary residence
70% of those 65+ will need assistance at some point
3 3 3
You pay no monthly mortgage payments
so long as you continue to pay property 3
Aging in place has been shown to have health and
taxes, homeowner’s insurance, and home emotional benefits over institutional care 4
maintenance costs 3
25% fewer doctor visits occur when home care is in
place 5

For more information contact me today!

Tom Selleck
Actor and AAG Paid Spokesperson

AAG042