Page 1 - AAG141_Financial Institution Flyer

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Help Your Members What if you could…
3 Relieve financial stress on your members
Retire Better caused by anticipating retirement income
gaps

3 Provide solutions for your members that are
weighed down by their obligation to sup-
The Challenge port aging parents or family members
1
As 76 million baby boomers near retirement, the nation is facing
an imminent financial crisis. 3 Include strategies for your members around
integrating home equity into retirement
income strategies

Did you know…
Over the past year, 3 out of 10 baby boomers postponed their plans Be the solution to overcoming your
to retire, with 26% anticipating retirement at age 70 or later. members’ retirement crisis
2

The Home Equity Conversion
24% 55% 42% Mortgage (HECM) Loan
3 A strategic financial tool
3 A solution for poor
baby boomers confi- baby boomers have baby boomers market performance,
dent in their savings 2 some retirement have less than supplementing income
savings 2 $100,000 2 for medical care,

bridging the social
These same individuals have over $6.97 trillion tied up in home security gap, and many
equity. The Credit Union National Association reports that 76% of other uses
3
credit union members are homeowners. 4
3 A way to relocate and right-size to a new
At AAG, we receive nearly 50,000 inquiries a month about Home home (HECM for Purchase)
5
Equity Conversion Mortgages. Your members are asking about it, 3 A valuable part of a comprehensive financial
wouldn’t you like to provide them with answers and resources?
plan

The HECM loan is a non-recourse loan insured by
the Federal Housing Administration (FHA) that
enables borrowers age 62 or better to access the
equity in their homes in the form of a lump sum,
monthly payments, or through a line of credit.
Although borrowers are still required to pay
their property taxes, homeowners insurance,
and maintain the condition of the property, they
are not required to make monthly mortgage or
interest payments until the home is sold or the
last borrower or eligible non-borrowing spouse
moves out of the home. AAG Advantage jumbo
reverse mortgage loans are available for high-
value properties.

For industry professionals only - not intended for
distribution to the general public. AAG141