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The New Reverse Mortgage Formula: How to Convert Home Equity into Tax-Free Income
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List Price:
$19.95
Pay Mortgages Price:
$17.95
Your Savings: $ 2.00 ( 10% )
Subject To Change Without Notice
Availability: Usually ships in 24 hours
Manufacturer: Wiley
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Average Customer Rating:  
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Binding: Paperback
Dewey Decimal Number: 332.722
EAN: 9780471679561
ISBN: 0471679569
Label: Wiley
Manufacturer: Wiley
Number Of Items: 1
Number Of Pages: 266
Publication Date: 2005-03-01
Publisher: Wiley
Studio: Wiley
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Editorial Reviews:
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The New Reverse Mortgage Formula explains reverse mortgages in easy language so seniors and their family members can fully understand and benefit from these useful loan products. Reverse loans allow seniors to convert part of their home equity into tax-free income, letting seniors easily borrow against the value of their home without selling it. Safer than ever, today’s reverse mortgages are non-recourse loans and lenders do not share in any appreciation or accrued equity. Safe and simple, reverse mortgages are a valuable option for senior homeowners having trouble living on a fixed income or in need of extra cash for any unforeseen expense.
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Spotlight customer reviews:
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Customer Rating:
Summary: Be in the know with this book
Comment: This is a very comprehensive book about reverse mortgages. Important reading for senior looking to use the equity in their home with a reverse mortgage and for the individuals advising seniors on these loans. I highly recommend Tom Kelly's book.
Customer Rating:
Summary: not a quality reference on the topic
Comment: The only thing good about this book is that at one time it was the only book available on reverse mortgages. That is no longer the case. While I haven't sampled the other titles to say how they compare, I can say that you'll find better quality information freely available on the net.
Among the flaws of this book:
It dedicates about 3 chapters (see the table of contents) to discussing what you can do with your money after you've obtained a reverse mortgage. As there are no real restrictions on how that money can be spent, these are useless, arbitrary chapters that would be far better covered in a book on how to spend your retirement.
The few interesting facts the book does introduce (such as the possibility of reducing fees if the mortgage proceeds are applied to long-term care insurance) are not backed up with references, or - as it turns out - explained as being proposed legislation that may never become reality.
Customer Rating:
Summary: A must read for any family member considering a Reverse Mortgage
Comment: The book is well reseached and written. It answered many questions I had. I was doing the research for my mother because I did not want her to be taken advantage of.
I would highly recomend this book. It gives a good explanation of the features and benefits and if a reverse mortgage is right for you in your particular situation. We hardly had any questions when the reverse mortgage expert came out.
Customer Rating:
Summary: ** A Must Have Book ** for any mortgage professional
Comment: You can't find many books on Reverse Mortgage's, let alone that are recent enough to talk about the changes that have gone on with the product. Tom Kelly does an excellent job explaining how they work, pro's and con's, customer stories and interviews with people in the industry. I recommend his book to everyone that is looking to get a Reverse Mortgage or prospecting entering the Reverse Mortgage field.
Customer Rating:
Summary: If you're a senior or know a senior you should read this book!
Comment: Putting the emphasis on "THE NEW" REVERSE MORTGAGE Mr. Kelly provides a comprehensive review of this valuable financial tool available to seniors. He lays out the cost and compares the options, dispelling the fears and myths that it is "too expensive". While pointing out that it may not be the best option for some, there are many seniors and mortgage professionals who can benefit from this information. There is a lot of misinformation and misunderstanding in the press and in the marketplace about this program. This book will help to set the record straight. With this good information seniors and their adult children can discover that they have more options and can make better choices. The New Reverse Mortgage programs now make it possible for seniors to stay in their homes long term while enjoying tax free income with no fear of foreclosure. If you are a senior or have parents who are seniors you should get this book and read it carefully to explore your options.
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