Your Reverse Mortgage:

Five Steps for Safety

A reverse mortgage is a powerful tool to help eligible homeowners obtain tax-free cash flow. Thousands of people have already used them to enhance their retirement lifestyle. Even so—like anything else where money is involved—it is wise to be prudent and informed about how to protect your own financial interests.

What is a Reverse Mortgage?

Reverse mortgages enable eligible homeowners to access the money they have built up as equity in their homes. They are primarily designed to strengthen seniors' personal and financial independence by providing funds without a monthly payment burden during their lifetime in the home. The major eligibility requirements are that the applicant must be at least 62 years of age and own and occupy a home whose mortgage has been paid in full (or with only a very low mortgage balance remaining).

The Benefits of a Reverse Mortgage include:

• Tax-free funds for as long as you live in your home
• No loan repayment for as long as you live in your home
• No income, medical or credit requirements
• Retain ownership of your home for life; this is guaranteed as long as you maintain your home, and pay insurance and real estate taxes
• Choose a cash flow plan tailored to your needs
• No restrictions on how you may use the funds
• A tax-advantaged way to pass on part of your estate today

How to Play it Safe?

The following five steps will help you ensure a successful reverse mortgage experience:

1. Learn the basics of how reverse mortgages work

Because reverse mortgages offer unique benefits, it is important for you to get a solid grasp of how they work. Among other things, you need to understand the full array of reverse mortgage products available to determine which one is best suited to your financial priorities.

2. Decide for yourself if a reverse mortgage is right for you

It's your house, and it should be your decision whether to apply for a reverse mortgage. Sometimes advice from family members or others can be helpful — but don't let anyone else make up your mind for you.

Once you apply, we hope you'll feel very happy about it. But you still have the right to change your mind until 3 days after the loan is closed.

3. Make your own choice about how to use your reverse mortgage funds

How to use the money is entirely up to you. Among other possibilities, you could:

• Supplement your retirement income;
• Buy a new car;
• Make home repairs;
• Use it as a financial planning tool;
• Travel more frequently;
• Help pay for a grandchild's education; or
• Cover medical expenses.

4. Insist that all reverse mortgage funds be paid directly to you

The funds from your reverse mortgage (after closing-related transaction costs) are yours alone, as the owner(s) of your home. Even if you plan to use the money to pay someone else later, the

 funds should always come to you first.

5. Feel free to call Mike Briscoe or any of our reverse mortgage specialists with any questions you have regarding this program.

• Reverse Mortgage Calculator: http://www.reversecalculator.com/Calc.asp?Co=entralBank2056437811age calculator Untitled 1