Even though home equity is the largest asset of most homeowners age 62 and older, very few people understand how to access that equity without selling their home. A reverse mortgage allows homeowners to convert some of their equity into useable retirement cash while continuing to live in their home. There are many planning opportunities available with today’s reverse mortgage, but the issues can be complex and emotional. Whether you are a potential borrower, a professional advisor or a family member of a potential borrower, The Complete Guide to Reverse Mortgages empowers you with the right information to make confident decisions. The book begins by addressing five common misconceptions about reverse mortgages:

1. The lender gets the house.
2. People only get reverse mortgages as a last resort.
3. There will be no estate and my heirs might even owe money.
4. I can’t qualify.
5. The costs are too high.

From there, The Complete Guide to Reverse Mortgages is broken down into five parts that cover the facts about reverse mortgages. Part One explains basic eligibility requirements, costs, and payment options. Part Two goes into more detail about the three most common types of reverse mortgages, namely:

• the Home Equity Conversion Mortgage
• the Fannie Mae Home Keeper; and
• the Financial Freedom Cash

Account Advantage Plan. The focus of Part Three is on personal planning and is meant to help borrowers bring out the personal thoughts and financial information needed to decide whether a reverse mortgage is right for their circumstances. It also covers how reverse mortgages work with health care, long-term care and government benefits. Finally, Parts Four and Five discuss how to apply for and close a reverse mortgage.

Throughout the book you will find graphics that demonstrate and reinforce concepts. As lawyers, we have found that a single good graphic image can be worth sixty minutes of explanation. We hope you appreciate the graphics; and we hope you find the entire book to be a valuable resource in making your retirement years as worry free as possible.

The Complete Guide to Reverse Mortgages, Publisher: Adams Business. For more information please visit: www.adamsmedia.com.