Premier Mortgage Associates

Tony Manrique

Tony ManriqueLearn the facts about Reverse Mortgages

If you are a homeowner age 62 or older, a Reverse Mortgage can help you enjoy greater financial flexibility - whether you are in retirement or still working. But misconceptions about how Reverse Mortgages work are all too common, and they can prevent you and your loved ones from getting valuable information on an important financial option.

Let's look at six common misconceptions and then learn the facts so you can better understand this dynamic loan product.

  • FICTION: A Reverse Mortgage will cause me to lose my home.
  • FACT: If you live in your home as your primary residence, pay property taxes, homeowner's insurance, HOA dues (if applicable) and maintain the home, your home will not be foreclosed on.
  • FICTION: Taking a Reverse Mortgage means that my heirs won't inherit anything.
  • FACT: Heirs have the opportunity to repay the loan to keep the home or sell the home and repay the loan. If the home sells for more than is owed, they keep the difference.
  • FICTION: The income received from my Reverse Mortgage will affect my Social Security and other benefits.
  • FACT: it is a loan, and therefore is not considered taxable income. It will not lower important Social Security and Medicare benefits.
  • FICTION: My children will be responsible for the repayment of the loan.
  • FACT: Your heirs or estate only pay back the balance on the Reverse Mortgage, which is the money you used in the program and the accrued interest on that amount.
  • FICTION: If I get a Reverse Mortgage, the bank will own my home.
  • FACT: With a Reverse Mortgage, you retain 100% ownership of your home. When you have the facts, you can make better decisions about your retirement future.

TO FIND OUT MORE ABOUT REVERSE MORTAGES, GIVE ME A CALL TODAY.


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Service Area

Serving all of Florida.

Contact Us

Tony Manrique
Premier Mortgage Associates
NMLS ID# 1456209

Phone: (561) 886-0300 Ext 1520

Phone: (561) 563-5560

4800 N. Federal Hwy. Bldg. E
Suite 200
Boca Raton FL 33431

Web: mms.premiermtg.com/dr/c/uaub

About Tony Manrique

Tony Manrique is knowledgeable in all areas of the Reverse Mortgage industry, including sales, operations and management. He understands how to build a Reverse Mortgage solution perfect for each client's unique needs. he is fully bilingual and can assist clients in Spanish as well. With this, Tony is committed to providing each client with the highest level of service and professionalism. Tony's innovative approach to business, emphasis on working as an integrated team and high standards for customer satisfaction make the Reverse Mortgage process easy for everyone involved. Let Tony bring your retirement dreams come to life!