Rose Hill Realty, Your Partner in Senior Living Transitions
Rose Hill Realty, Your Partner in Senior Living Transitions
1- Early inheritance/Down Payment Gift – Many of clients can use proceeds to provide a down payment for their (grand)children to buy their first home or just giving them funds while they can see them enjoy it.
2- Asset /Investment Portfolio Preservation – The Reverse Mortgage is a great alternative that allows clients to access their equity Tax-free, thus preserving liquid assets for longer periods
3- Debt consolidation – Paying off secured and unsecured debt, credit cards, and tax arrears are the most common. Payments are deferred until the client sells their home.
4- Lump sum for renovations/update home or purchase secondary property – the clients need access to a lump sum of money and they do not want to cash in their investments (tax reasons) or simply do not have the funds on hand.
5- Improve cash flow to maintain quality of life – Everyday expenses are increasing, and their fixed income is not. Usually a lump sum amount plus a monthly draw (funds are tax free) are needed to meet client’s needs. This is a huge stress relief for our clients.
6- Health Care costs – Whether it is in-home health care or one of the applicants is in a retirement home, the monthly cost can be significant. In lieu of our client(s) depleting all of their life savings, a monthly deposit plan (with interest deferred) may be an option. Also, our client does not need to sell their home to access cash in what is an already stressful life event.
7- New Purchase – clients can use the proceeds for acquiring a new property whether for Right sizing or investment purposes.
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