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Free DVD About Reverse Mortgages Available Online
Nov. 1, 2004 A free DVD, Reverse Mortgages:
Making an Educated Decision, is now available from Financial Freedom,
which claims to be the largest firm in reverse mortgage lending. A
unique feature of the video is that it has senior citizens telling about
these loans what they are, how they work, etc.
"The biggest champions of reverse mortgages are the
seniors who have them," says Jim Mahoney, CEO of Financial Freedom. "The
sincerity and enthusiasm of the borrowers' stories is compelling, and we
hope it will encourage a broader audience of seniors to consider reverse
mortgages when developing a financial plan for the future."
Two Reverse Mortgage Specialists from Financial
Freedom also provide their
expertise and answer many common questions about reverse mortgages to
help
senior consumers make informed decisions.
The DVD is available free by calling 1-888-738-3773
or by visiting the Financial Freedom Web site at
www.financialfreedom.com. On the Web site, visitors can also find
information about the various reverse mortgage products and use the
simple reverse mortgage calculator.
About Reverse Mortgages
A reverse mortgage is a loan that enables homeowners 62 or older to
borrow against the equity in their home, without having to sell their
home, give up title, or take on a new monthly mortgage payment. The loan
proceeds can be used for any purpose, and the loan isn't repaid until
the borrower moves out of the home permanently. When the loan
is repaid
(the repayment amount can't exceed the value of the home), any remaining
equity goes to the borrower's heirs/estate. Loan proceeds can be taken
out as a line of credit, lump sum payment, fixed monthly payment, or combination.Reverse mortgages have emerged as a significant financial
security tool for senior homeowners because of the broad range of needs
these loans can satisfy, such as:
* Debt reduction
* Estate planning
* Gifting
* Healthcare funding
* Lifestyle enhancement
About Financial FreedomTM
Financial FreedomTM is a founding member of the National Reverse
Mortgage Lenders Association. NRMLA is a nonprofit trade association,
based in Washington, DC, whose mission is to support the continued
evolution of reverse mortgages as an important financial option for
senior homeowners while educating both its members and consumers about
the varied applications of this unique loan. For more information,
visit the Financial Freedom Web site at
www.financialfreedom.com.
NRMLA members sign a Code of Conduct pledging to
abide by guidelines that assure fair, ethical, and respectful practices
in offering and making reverse mortgages to seniors. For more
information, visit the NRMLA Web site at
www.reversemortgage.org.
Financial Freedom Senior Funding Corporation, a
Subsidiary of IndyMac Bank, F.S.B., based in Irvine, California, is the
largest originator of reverse mortgages in the United States. Financial
FreedomTM originated $3.1 billion of home value in reverse mortgages in
2003 and is now the largest servicer of reverse mortgages with a
servicing portfolio of approximately 46,000 loans.
IndyMac Bancorp, Inc. is the holding company for
IndyMac Bank, the largest savings and loan in Los Angeles and the 10th
largest nationwide (based on assets). Through its hybrid thrift/mortgage
bank business model, IndyMac is in the business of designing,
manufacturing, and distributing cost-efficient financing for the
acquisition, development and improvement of single-family homes.
IndyMac also provides financing secured by single-family homes to
facilitate consumers' personal financial goals and strategically invests
in single-family mortgage related assets.
www.indymacbank.com.
Copyright: SeniorJournal.com |
