How can we possibly leave Mom in that place? If you have asked yourself that question then you must be in the unfortunate position of trying to find a suitable senior care facility for a loved one. Coming to the realization that your Mom is no longer able to live on her own and selecting a facility for her is probably one of the hardest decisions you will ever have to make.
West Bloomfield, MI--Stop looking for a “facility” and give your Mom all of the comforts of a private residential home specifically designed to provide personalized care for up to six senior women. This is a resident to care giver ratio of 6 to 2.
Nannie’s Inn is a 3300 sq. ft. ranch style home nestled in a country setting among mature trees in a quiet subdivision in West Bloomfield Township, Michigan. This clean and beautifully decorated home is wheelchair accessible and every detail is designed to accommodate the various levels of care needed by our residents. Furnished private and semi-private rooms are available to accommodate up to six female residents. Semi-private rooms are equipped with privacy walls. An open floor plan that includes a large living room and sun room provides plenty of opportunity for either socializing in a group setting or finding a quiet place to read or reflect. A front porch and spacious rear patio surrounded by large pine trees are available to enjoy a sunrise or a tranquil sunset. Dementia, Parkinson’s, Alzheimer’s or other memory impairments can rob your loved one of their independence. Nannie’s Inn can provide an environment of encouragement and social activities in a home equipped to manage those that may wander. All bathrooms are equipped with ADA approved fixtures.
The home is staffed 24/7 with experienced and certified direct care givers. The staff to resident ratio in this intimate environment is such that any changes in health, behavior or eating habits will be quickly recognized and addressed. The level of care is always relative to the needs of each individual, even as their care requirements change. Monthly care coordination meetings with the home founder, family members, in home care providers and health care professionals is key in assuring the physical and emotional health and safety of the residents. All residents are encouraged to add special touches such as pictures, photographs or mementos to personalize their bedroom.
Some of the amenities to be found at Nannie’s Inn are, three well balanced home cooked meals with provisions for specialized diets along with snacks and a closely monitored hydration program. Also available; housekeeping and personal laundry service, bed and bath linens, bathing and dressing assistance, medication management, incontinence management, diabetes and hypertension management, tube feeding, bedside emergency call system, basic hygiene products, transportation services, on call physicians and nurses providing in home care, short and long term respite care. Provisions can be made for skilled nursing care, hospice care and physical therapy for rehabilitation from an illness or a fall.
Providing comfort for seniors has been a life long passion of the home founder, Lori Tenney. It is Lori’s goal to provide your loved one with safe, attentive and dignified care while they enjoy the comforts of a home like atmosphere.
The staff at Nannie’s Inn are caring, dedicated, highly skilled and committed to excellence. Each member of the staff have had comprehensive criminal background checks, health screenings and are carefully selected based on possessing the proper credentials of a certified nursing assistant (CNA) and/or direct care worker (DCW). All team members must be trained and have at least 3 years of hands on experience with the daily care needs of both ambulatory and non-ambulatory seniors.
Senior care in a residential home such as Nannie’s Inn is fast becoming the preferred alternative to private in-home health care services, foster care facilities, adult day care, nursing or convalescent homes, group homes for the elderly, and continuing care retirement communities (CCRC). Currently, Medicaid does not cover the costs of staying in a private residential home. However, many long term care insurance plans will cover the room and board fees in a home such as Nannie’s Inn.
This State licensed home is located in Oakland County and is convenient to hospitals and emergency care facilities. Nannie’s Inn is within 45 minutes or less of the following communities:
Oakland County - Addison Township, Auburn Hills, Berkley, Beverly Hills, Bingham Farms, Birmingham, Bloomfield Township, Clawson, Commerce Township, Farmington, Farmington Hills, Ferndale, Franklin, Hazel Park, Highland Township, Holly, Holly Township, Huntington Woods, Independence Township, Keego Harbor, Lathrup Village, Lyon Township, Madison Heights, Milford, Milford Township, Northville, Novi, Oak Park, Oakland Township, Orchard Lake, Orion Township, Oxford Township, Pleasant Ridge, Pontiac, Rochester, Rochester Hills, Royal Oak, Southfield, South Lyon, Troy, Walled Lake, Waterford Township, West Bloomfield Township, White Lake Township, Wixom. Macomb County - Bruce Township, Center Line, Chesterfield Township, Clinton Township, Eastpointe, Fraser, Harrison Township, Lenox Township, Macomb Township, Mt. Clemens, New Baltimore, Ray Township, Roseville, Richmond, Shelby Township, St. Clair Shores, Sterling Heights, Utica, Warren, Washington Township. Wayne County - Belleville, Brownstown Township, Canton Township, Dearborn, Dearborn Heights, Grosse Isle Township, Grosse Pointe Shores, Grosse Pointe Woods, Hamtramck, Inkster, Livonia, Northville Township, Plymouth, Redford Township, Riverview, Romulus, Taylor, Trenton, Wayne, Westland, Wyandotte.
Friday, March 28, 2008
Tuesday, March 18, 2008
Nannie’s Inn of West Bloomfield Provides Individualized Care For Seniors In A Comfortable And Safe Home Environment
Take the first step toward this unique care opportunity for your loved one
West Bloomfield, MI--Nannie’s Inn is a 3,300 sq. ft. ranch style home nestled among mature trees in a quiet subdivision in West Bloomfield Township, Michigan. This clean and beautifully decorated home is wheelchair accessible and every detail is designed to accommodate the various levels of care needed by our residents. Private and semi-private rooms are available to accommodate up to six female residents. An open floor plan that includes a large living room and sun room provides plenty of opportunity for either socializing in a group setting or finding a quiet place to read or reflect. A front porch and spacious rear patio surrounded by large pine trees are available to enjoy the outdoors.
The staff to resident ratio in this intimate environment is such that any changes in health, behavior or eating habits will be quickly recognized and addressed. The level of care is always relative to the needs of each individual, even as their care requirements change. Monthly care coordination meetings with the home founder, family members, in-home care providers and health care professionals is key in assuring the health and safety of the residents. All residents are encouraged to add special touches such as pictures, photographs or mementos to personalize their bedroom. Friends and family are always welcome to visit.
Some of the amenities to be found at Nannie’s Inn are three home cooked, well balanced meals each day, with provision for specialized diets, snacks and drinks, daily housekeeping and personal laundry services, bathing and dressing assistance, transportation to and from community activities, wireless internet and in home activities including exercise, crafts, BBQ, birthday and holiday celebrations. Nannies Inn provides bed and bath linens, basic hygiene products and beauty/barber services. They also have on call physicians and nurses who provide in home care, medication management, incontinence management, tube feeding, diabetes management, respite care-short and long term and a bedside emergency call system.
Providing comfort for seniors has been a life long passion of the home founder, Lori Tenney. It is Lori’s goal to provide your loved one with safe, attentive and dignified care while they enjoy the comforts of a home like atmosphere. The home is fully staffed, 24/7 with experienced and certified direct care givers.
Contact Lori at 734-812-8746 or visit http://www.nannies-inn.com/default.asp
For more information.
West Bloomfield, MI--Nannie’s Inn is a 3,300 sq. ft. ranch style home nestled among mature trees in a quiet subdivision in West Bloomfield Township, Michigan. This clean and beautifully decorated home is wheelchair accessible and every detail is designed to accommodate the various levels of care needed by our residents. Private and semi-private rooms are available to accommodate up to six female residents. An open floor plan that includes a large living room and sun room provides plenty of opportunity for either socializing in a group setting or finding a quiet place to read or reflect. A front porch and spacious rear patio surrounded by large pine trees are available to enjoy the outdoors.
The staff to resident ratio in this intimate environment is such that any changes in health, behavior or eating habits will be quickly recognized and addressed. The level of care is always relative to the needs of each individual, even as their care requirements change. Monthly care coordination meetings with the home founder, family members, in-home care providers and health care professionals is key in assuring the health and safety of the residents. All residents are encouraged to add special touches such as pictures, photographs or mementos to personalize their bedroom. Friends and family are always welcome to visit.
Some of the amenities to be found at Nannie’s Inn are three home cooked, well balanced meals each day, with provision for specialized diets, snacks and drinks, daily housekeeping and personal laundry services, bathing and dressing assistance, transportation to and from community activities, wireless internet and in home activities including exercise, crafts, BBQ, birthday and holiday celebrations. Nannies Inn provides bed and bath linens, basic hygiene products and beauty/barber services. They also have on call physicians and nurses who provide in home care, medication management, incontinence management, tube feeding, diabetes management, respite care-short and long term and a bedside emergency call system.
Providing comfort for seniors has been a life long passion of the home founder, Lori Tenney. It is Lori’s goal to provide your loved one with safe, attentive and dignified care while they enjoy the comforts of a home like atmosphere. The home is fully staffed, 24/7 with experienced and certified direct care givers.
Contact Lori at 734-812-8746 or visit http://www.nannies-inn.com/default.asp
For more information.
Monday, March 17, 2008
How a 62 Year Old Senior from Wayne County with Lousy Credit and a Fixed Income was Able to buy a $125,000 Home with No House Payment
Gerald Morgan had been living in the 1 bedroom apartment in downtown Detroit for the past 7 years. The 62 year old semi-retired truck driver was making ends meet but the apartment wasn't where he wanted to live and relax when he officially retired and got off the road next year. Looking out his apartment window to the vacant building across the street wasn't his idea of a room with a view. Constantly hearing other tenants in his building flushing toilets and slamming doors, he knew he wanted someplace better to live. But what could he afford on his part-time income other than where he was? he frequently asked himself.
Gerald dreamed of owning a home. He was never in a good position financially to ever afford a home of his own. Plus, being gone on the road trucking for days didn't make it feasible for many years. But those days were now behind him and he really wanted something better for himself, something he could call his own when he retired.
One day recently Gerald was reading an article from AARP. The article went on to mention a fantastic mortgage program subsidized by the government for seniors called a reverse mortgage. The article talked about the Michigan real estate doldrums and how this program was really a benefit to seniors in Michigan's Wayne, Macomb and Oakland counties who always wanted to own a home but never had an opportunity to do so before. Now they could. The more Gerald read the more excited he got. He could get into a home with lots of built-in equity that he'd never have to make a house payment on for as long as he lived in the home, and, he could use that equity to supplement his income anytime he wanted and all he ever had to do was be able to afford to pay the taxes and insurance on the house every year. He could even use some of that money to take a vacation to Arizona every winter to visit his kids and grandkids.
Gerald picked up the phone and called the number at the end of the article. He was told that one of the requirements was he had to first meet with a certified HUD counselor as a formality, he had to be at least 62 years old, and his credit wasn't an issue because the Mortgage Company isn't looking to get payments on the home. The loan is based on the equity in the home, which must be a single family residence (up to a four-unit) and be the primary residence of the senior homeowner.
Gerald was told it takes roughly 60-90 days to close the deal once he finds a home he likes. The home must meet HUD's minimum standards, of course, and he was told he was already pre-qualified for a reverse mortgage that was guaranteed by the Federal Housing Administration and funded by Fannie May.
His day couldn't get any better. At 62, Gerald's hopes and dreams were becoming a reality before he even hung up the phone that day. The representative on the phone told him the same thing he read in the AARP article. He confirmed there were no out-of-pocket expenses, no house payments, no loan payments, and no income requirements. His Social Security and Medicaid benefits wouldn't be affected either. All the benefits of a reverse mortgage were becoming clear to Gerald now and why he read they were becoming one of the fastest growing financial products in the country. All his questions were answered and he was now a man with a new purpose in life. No more paying rent, no more feeling sorry for himself for his past credit mistakes. It no longer mattered. With this reverse mortgage program for seniors over 62 he was finally able to buy a house after years of struggling just to pay the rent.
He fell in love with a remodeled 3 bedroom, fenced in yard with his own garage in a quiet neighborhood on a tree-lined street. The best part is it came with over $50,000 in built-in equity that Gerald can tap into whenever he wants, for whatever he wants, and he never has to worry about paying anything back.
Next winter Gerald has made plans to spend 2 months in Arizona, something that would never have been an option for him living in his tiny apartment just a few short months ago, thanks to the relatively new reverse mortgage program for seniors over 62 guaranteed by the FHA, HUD and Fannie May.
This article was written by Glenn Clawson and Mark Maupin. Find out more about reverse mortgages at http://seniorsuhaverights.blogspot.com/
Contact Mark Maupin
Maupin.mark@gmail.com
248-939-6232
Search the following for more information about this Government program for seniors:
Reverse mortgage, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse senior, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, lender mortgage reverse, Michigan reverse mortgage, mortgage reverse Michigan, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure
Gerald dreamed of owning a home. He was never in a good position financially to ever afford a home of his own. Plus, being gone on the road trucking for days didn't make it feasible for many years. But those days were now behind him and he really wanted something better for himself, something he could call his own when he retired.
One day recently Gerald was reading an article from AARP. The article went on to mention a fantastic mortgage program subsidized by the government for seniors called a reverse mortgage. The article talked about the Michigan real estate doldrums and how this program was really a benefit to seniors in Michigan's Wayne, Macomb and Oakland counties who always wanted to own a home but never had an opportunity to do so before. Now they could. The more Gerald read the more excited he got. He could get into a home with lots of built-in equity that he'd never have to make a house payment on for as long as he lived in the home, and, he could use that equity to supplement his income anytime he wanted and all he ever had to do was be able to afford to pay the taxes and insurance on the house every year. He could even use some of that money to take a vacation to Arizona every winter to visit his kids and grandkids.
Gerald picked up the phone and called the number at the end of the article. He was told that one of the requirements was he had to first meet with a certified HUD counselor as a formality, he had to be at least 62 years old, and his credit wasn't an issue because the Mortgage Company isn't looking to get payments on the home. The loan is based on the equity in the home, which must be a single family residence (up to a four-unit) and be the primary residence of the senior homeowner.
Gerald was told it takes roughly 60-90 days to close the deal once he finds a home he likes. The home must meet HUD's minimum standards, of course, and he was told he was already pre-qualified for a reverse mortgage that was guaranteed by the Federal Housing Administration and funded by Fannie May.
His day couldn't get any better. At 62, Gerald's hopes and dreams were becoming a reality before he even hung up the phone that day. The representative on the phone told him the same thing he read in the AARP article. He confirmed there were no out-of-pocket expenses, no house payments, no loan payments, and no income requirements. His Social Security and Medicaid benefits wouldn't be affected either. All the benefits of a reverse mortgage were becoming clear to Gerald now and why he read they were becoming one of the fastest growing financial products in the country. All his questions were answered and he was now a man with a new purpose in life. No more paying rent, no more feeling sorry for himself for his past credit mistakes. It no longer mattered. With this reverse mortgage program for seniors over 62 he was finally able to buy a house after years of struggling just to pay the rent.
He fell in love with a remodeled 3 bedroom, fenced in yard with his own garage in a quiet neighborhood on a tree-lined street. The best part is it came with over $50,000 in built-in equity that Gerald can tap into whenever he wants, for whatever he wants, and he never has to worry about paying anything back.
Next winter Gerald has made plans to spend 2 months in Arizona, something that would never have been an option for him living in his tiny apartment just a few short months ago, thanks to the relatively new reverse mortgage program for seniors over 62 guaranteed by the FHA, HUD and Fannie May.
This article was written by Glenn Clawson and Mark Maupin. Find out more about reverse mortgages at http://seniorsuhaverights.blogspot.com/
Contact Mark Maupin
Maupin.mark@gmail.com
248-939-6232
Search the following for more information about this Government program for seniors:
Reverse mortgage, HECM, HECM reverse mortgage, reverse mortgage for seniors, mortgage reverse, mortgage reverse senior, mortgage reverse taxes, lender mortgage reverse, calculator mortgage reverse, lender reverse mortgage, lender mortgage reverse, Michigan reverse mortgage, mortgage reverse Michigan, home mortgage reverse, aarp mortgage reverse, hud mortgage reverse, seller financing, private mortgage, seniors in foreclosure
Saturday, February 16, 2008
Local Real Estate Entrepreneur is Looking for Partners for a Joint Venture Program to Make Money in Today’s Real Estate Market in Michigan
Introducing a new technique to the Michigan Market
Southfield, MI—Mark Maupin has developed a technique for working the real estate market as we know it today. “This is a buyer’s market, therefore, we have to cater to the buyer, and offer something they just cannot turn down,” says Mark. “I’m offering a program for anyone interested in taking action in today’s market,” Mark explains.
Mark Maupin has over 25 years experience in the real estate business. He began investing in real estate in 1981, and purchased over 3,500 properties by 1984. He has owned rental properties, serviced land contracts, purchased and sold commercial property and more. He understands the current market and he works with whatever the market has to offer. Mark is able to view real estate from a unique perspective, allowing him to identify and grasp the potential in real estate and develop new and innovative ways to maximize its potential.
“Reverse mortgages for seniors are gaining popularity today,” says Maupin. “With business cutbacks and less opportunity for pension programs, seniors are having trouble making ends meet,” Mark explains. A reverse mortgage allows a senior to borrow from the equity in their home, continue to own the home, and live it as long as they want to, without making mortgage payments. Their only obligation is to maintain insurance on the property, pay the property taxes, and maintain the home. Find out more about Reverse Mortgages at http://seniorsuhaverights.blogspot.com/
Other topics being discussed at this event include finding buyers before purchasing property, exit strategies to sell property for top dollar, taking over a foreclosure with no financial risk, wholesale properties, tax foreclosures, advertisement agreements, sandwich options and more.
Attend this event and see current examples where money has been made with these tools and techniques on February 19, 2008, from 7:00pm to 9:00pm. The event is free to attend and it will be at 24855 Southfield road, Southfield, MI 48075, on the west side of the street, just south of 10-Mile.
Southfield, MI—Mark Maupin has developed a technique for working the real estate market as we know it today. “This is a buyer’s market, therefore, we have to cater to the buyer, and offer something they just cannot turn down,” says Mark. “I’m offering a program for anyone interested in taking action in today’s market,” Mark explains.
Mark Maupin has over 25 years experience in the real estate business. He began investing in real estate in 1981, and purchased over 3,500 properties by 1984. He has owned rental properties, serviced land contracts, purchased and sold commercial property and more. He understands the current market and he works with whatever the market has to offer. Mark is able to view real estate from a unique perspective, allowing him to identify and grasp the potential in real estate and develop new and innovative ways to maximize its potential.
“Reverse mortgages for seniors are gaining popularity today,” says Maupin. “With business cutbacks and less opportunity for pension programs, seniors are having trouble making ends meet,” Mark explains. A reverse mortgage allows a senior to borrow from the equity in their home, continue to own the home, and live it as long as they want to, without making mortgage payments. Their only obligation is to maintain insurance on the property, pay the property taxes, and maintain the home. Find out more about Reverse Mortgages at http://seniorsuhaverights.blogspot.com/
Other topics being discussed at this event include finding buyers before purchasing property, exit strategies to sell property for top dollar, taking over a foreclosure with no financial risk, wholesale properties, tax foreclosures, advertisement agreements, sandwich options and more.
Attend this event and see current examples where money has been made with these tools and techniques on February 19, 2008, from 7:00pm to 9:00pm. The event is free to attend and it will be at 24855 Southfield road, Southfield, MI 48075, on the west side of the street, just south of 10-Mile.
"How To Quickly Move Properties in the Current Market While Fulfilling the Dreams of 62 Year Young Seniors"
Greetings!
Has anyone figured out a good way to move properties profitably in our current market here in Michigan?
There are a lot of opinions out there, but are they actually working? And who’s really benefiting in the long run, the investor or the homeowner?
How about a program that actually benefits both parties?
If you're a senior citizen over the age of 62 and you live in the Tri-County area, you can now get into a new home with zero out-of-pocket expense and zero house payments for as long as you're living in the house.
This program works anywhere nationwide but for the benefit of this article we're concentrating on the Tri-County area.
The program is a federally-insured mortgage loan backed by the government called a Home Equity Conversion Mortgage, or HECM for short. It is the ONLY reverse mortgage insured by the federal government and the FHA, which is part of HUD.
Who is eligible for this program you ask?
Anyone 62 years old or older is elibible. The house must be the individual's primary residence, it must meet HUD's minimum property standards and all they have to do is discuss the HECM loan program with a HUD approved counselor. That's it!
Do you think there is an opportunity here? Absolutely.
This is a fantastic way to get seniors into a house with no out of pocket expense and no house payments for as long as they reside in the house.
What are the benefits to the 62 and up homeowner?
Let me give you a simple example: We purchase a property at a steep discount on the NW side of town in a nice area. The ARV is $100k. We rehab the property. One of our clients, Joe Homeowner, aged 63, was introduced to the program and instantly became interested. He just happens to want to live on the NW side of town next to his grand-kids. We show him the property and he wants it. Our selling price is $65k.
That's $35k in built-in equity right off the bat for those of you keeping score at home.
HUD has already approved the property as meeting their minimum standards so that's no problem.
All Joe Homeowner has to do is discuss the program options with a HUD counselor and he's approved. No down payment, no out-of-pocket expenses, and no house payments for as long as it remains his principal residence.
He has $35k he now has access to anytime he wants, for anything he wants, as a 1) single lump sum. 2) for cash withdrawls set up as a "creditline" or 3) as a monthly cash advance for a specific period of time. Or any combination of the three cash advances.
And he never has to pay it back as long as he continues to live in the house!
That $35k will come in very handy in his golden years. Of course, he can only get as much as the house is appraised for.
But if property values go up eventually, so will his loan advances.
If the property appraises for $110k 2 years later, his $35k equity just turned into $45k that he can tap into whenever he needs to at whatever amount suits him.
No loan payments, no house payments. Ever.
The only stipulation to all this, and that's part of your HUD counselor discussion, is Joe Homeowner pays only the taxes and insurance on the property every year – that's it!
The counselors will make sure Mr. Joe Homeowner is able to afford the property taxes and insurance long before he closes on the house of his dreams. If that isn't going to be a problem, he's golden.
Obviously HUD and the government don't want to place people in homes they can't afford the taxes and insurance on; then nobody wins.
Are there any disadvantages to a reverse mortgage? Sure, there are pros and cons to every situation. We'll touch on those in the next email.
But in this real estate market right here right now in Michigan, this program is hands down a winner for seniors over 62 and for investors sitting on empty properties they can't move, now they have a great option.
If you have senior clients over 62 that you weren't sure what to do with before, now you know you can with a HECM reverse mortgage.
If you're a senior reading this article and are in the Tri-County area of Detroit, send us an email or give us a call and we'll be more than happy to walk you through the steps of the process.
You're under no obligation, but we can educate you on how a reverse mortgage can work to your advantage so your dream of owning your own home can become a reality no matter what your income is or how poor your credit currently is.
We can help you! Contact me below and I'll be more than happy to assist you with any questions or concerns you might have regarding a reverse mortgage.
In my next article I'll discuss the basic loan features of a reverse mortgage and how to make it work for you.
Glenn J. Clawson
GCCPropertySolutions@yahoo.com
Has anyone figured out a good way to move properties profitably in our current market here in Michigan?
There are a lot of opinions out there, but are they actually working? And who’s really benefiting in the long run, the investor or the homeowner?
How about a program that actually benefits both parties?
If you're a senior citizen over the age of 62 and you live in the Tri-County area, you can now get into a new home with zero out-of-pocket expense and zero house payments for as long as you're living in the house.
This program works anywhere nationwide but for the benefit of this article we're concentrating on the Tri-County area.
The program is a federally-insured mortgage loan backed by the government called a Home Equity Conversion Mortgage, or HECM for short. It is the ONLY reverse mortgage insured by the federal government and the FHA, which is part of HUD.
Who is eligible for this program you ask?
Anyone 62 years old or older is elibible. The house must be the individual's primary residence, it must meet HUD's minimum property standards and all they have to do is discuss the HECM loan program with a HUD approved counselor. That's it!
Do you think there is an opportunity here? Absolutely.
This is a fantastic way to get seniors into a house with no out of pocket expense and no house payments for as long as they reside in the house.
What are the benefits to the 62 and up homeowner?
Let me give you a simple example: We purchase a property at a steep discount on the NW side of town in a nice area. The ARV is $100k. We rehab the property. One of our clients, Joe Homeowner, aged 63, was introduced to the program and instantly became interested. He just happens to want to live on the NW side of town next to his grand-kids. We show him the property and he wants it. Our selling price is $65k.
That's $35k in built-in equity right off the bat for those of you keeping score at home.
HUD has already approved the property as meeting their minimum standards so that's no problem.
All Joe Homeowner has to do is discuss the program options with a HUD counselor and he's approved. No down payment, no out-of-pocket expenses, and no house payments for as long as it remains his principal residence.
He has $35k he now has access to anytime he wants, for anything he wants, as a 1) single lump sum. 2) for cash withdrawls set up as a "creditline" or 3) as a monthly cash advance for a specific period of time. Or any combination of the three cash advances.
And he never has to pay it back as long as he continues to live in the house!
That $35k will come in very handy in his golden years. Of course, he can only get as much as the house is appraised for.
But if property values go up eventually, so will his loan advances.
If the property appraises for $110k 2 years later, his $35k equity just turned into $45k that he can tap into whenever he needs to at whatever amount suits him.
No loan payments, no house payments. Ever.
The only stipulation to all this, and that's part of your HUD counselor discussion, is Joe Homeowner pays only the taxes and insurance on the property every year – that's it!
The counselors will make sure Mr. Joe Homeowner is able to afford the property taxes and insurance long before he closes on the house of his dreams. If that isn't going to be a problem, he's golden.
Obviously HUD and the government don't want to place people in homes they can't afford the taxes and insurance on; then nobody wins.
Are there any disadvantages to a reverse mortgage? Sure, there are pros and cons to every situation. We'll touch on those in the next email.
But in this real estate market right here right now in Michigan, this program is hands down a winner for seniors over 62 and for investors sitting on empty properties they can't move, now they have a great option.
If you have senior clients over 62 that you weren't sure what to do with before, now you know you can with a HECM reverse mortgage.
If you're a senior reading this article and are in the Tri-County area of Detroit, send us an email or give us a call and we'll be more than happy to walk you through the steps of the process.
You're under no obligation, but we can educate you on how a reverse mortgage can work to your advantage so your dream of owning your own home can become a reality no matter what your income is or how poor your credit currently is.
We can help you! Contact me below and I'll be more than happy to assist you with any questions or concerns you might have regarding a reverse mortgage.
In my next article I'll discuss the basic loan features of a reverse mortgage and how to make it work for you.
Glenn J. Clawson
GCCPropertySolutions@yahoo.com
Hello Fellow Investors!
With the Michigan real estate market being as dismal as it is right now, believe it or not, I have some great news to pass on to you about a new program I recently became introduced to.
If you've never been ahead of the curve before, I'm not kidding when I say you now have an opportunity to make that happen.
If you're a realtor, or, investor who works the short sale market, or wholesale, or any number of other strategies, you're going to want to sit up and pay attention to what I have to tell you in this email.
We all have homeowners we've run across that there is just nothing we can do to help them out of their situation. They either have bad credit, lost job, can't get qualified….any number of reasons why we can't help them out. Especially seniors.
How many of you have worked with seniors and have faced that dilema?
Well, I want to tell you right now I have found a way to erase that problem here in Michigan in the current real estate market. Yes, it is legal. Actually, it is even backed by HUD and Fanny Mae so it's federally insured and it's available in all 50 states, not just Michigan.
If you work with or know of anyone over the age of 62 years old, no matter how bad their credit is, I can help you put that senior into a home with built in equity, no out of pocket expenses or closing fees, and they'll NEVER have to make a house payment for as long as they live there.
It has to be a single-family residence up to a four-unit dwelling. No mobile homes or co-ops.
It's a win-win-win for everyone involved. It's an excellent strategy right now to seriously consider if you know of anyone 62 and older whose been renting, had a home and lost it in foreclosure, or has never owned a home before and would like to. Now they can.
You can help them out and help yourself out at the same time.
Contrary to what you've heard or been reading about the real estate market in the Great Lake State, all is not gloom and doom. There is a ray of sunshine on the horizon and I'll explain to you how everyone can benefit.
Look for future articles and I'll tell you more about who is eligible and what the criteria is to make this happen.
Have a Successful Week,
Glenn Clawson
GCCPropertySolutions@yahoo.com
If you've never been ahead of the curve before, I'm not kidding when I say you now have an opportunity to make that happen.
If you're a realtor, or, investor who works the short sale market, or wholesale, or any number of other strategies, you're going to want to sit up and pay attention to what I have to tell you in this email.
We all have homeowners we've run across that there is just nothing we can do to help them out of their situation. They either have bad credit, lost job, can't get qualified….any number of reasons why we can't help them out. Especially seniors.
How many of you have worked with seniors and have faced that dilema?
Well, I want to tell you right now I have found a way to erase that problem here in Michigan in the current real estate market. Yes, it is legal. Actually, it is even backed by HUD and Fanny Mae so it's federally insured and it's available in all 50 states, not just Michigan.
If you work with or know of anyone over the age of 62 years old, no matter how bad their credit is, I can help you put that senior into a home with built in equity, no out of pocket expenses or closing fees, and they'll NEVER have to make a house payment for as long as they live there.
It has to be a single-family residence up to a four-unit dwelling. No mobile homes or co-ops.
It's a win-win-win for everyone involved. It's an excellent strategy right now to seriously consider if you know of anyone 62 and older whose been renting, had a home and lost it in foreclosure, or has never owned a home before and would like to. Now they can.
You can help them out and help yourself out at the same time.
Contrary to what you've heard or been reading about the real estate market in the Great Lake State, all is not gloom and doom. There is a ray of sunshine on the horizon and I'll explain to you how everyone can benefit.
Look for future articles and I'll tell you more about who is eligible and what the criteria is to make this happen.
Have a Successful Week,
Glenn Clawson
GCCPropertySolutions@yahoo.com
Saturday, February 9, 2008
Mr. Homeowner Goes From Foreclosure to No House Payment and Huge Equity This Could Only Happen In a Real Estate Market like Detroit Michigan
Seniors in
About the author: Ralph Marcus Maupin, Jr. (Mark) works with bulk buyers and seniors in
Summary:
Reverse Mortgages take a new turn in the
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