She’s begging to live! Please don’t let her walked to the kill room and be let down by people

If you are at least 62 years of age with equity in your home, a reverse mortgage specialist can help you access the cash in your biggest asset without ever having to make a housing payment. It is no secret that this unique option has become many seniors' best opportunity to enjoy their nest egg while remaining in their home throughout their golden years. A reverse mortgage specialist can guide you in retaining your Medicaid eligibility throughout the process while protecting your heirs from future estate liability.

After working hard for many years to pay down your house note, residential property often becomes your biggest asset, especially during the retirement years. After age 62, many seniors choose to stop working in favor of enjoying the benefits of years-often decades-of hard work that they've put into their residence. This type of cash flow is otherwise known as a Home Equity Conversion Mortgage (HECM) and is designed to put money in your bank account by tapping into the available equity you have in your investment.

In order to determine whether you are eligible to obtain this unique FHA-insured product, your reverse mortgage specialist will consider a variety of factors including the amount of equity available and your age. Unlike a traditional loan process, a your credit and income requirements are not a factor, and there are no monthly payments whatsoever. In fact, with this unique product, it is just the opposite-the bank sends money to you while you enjoy retirement and remain in your own home for years to come.

What you may not know about these government-insured home equity payouts, however, is that they can sometimes make budgeting for retirement even more difficult if you or your spouse are dependent on Medicaid for some or all of your medical care. This is where a reverse mortgage specialist can provide expert advice once again. These highly specialized banking professionals will guide you through the various options for withdrawing your money that can affect not just your lifestyle but also your Medicaid healthcare eligibility. In particular, certain assets are exempt from eligibility scrutiny up to a specific dollar amount-and the equity in your primary residence is one such asset.

You can choose to receive monthly payments in a few ways: a lump sum at closing, regular annuity payments, a line of credit, or some combination of the three. As long as the payout from your line of credit is being accessed and used in the same month, there is no conflict with government Medicaid requirements. The idea is to keep your cost of living in line with the payouts in order to avoid an excess of cash in your bank account during any given month. In short, if you only withdraw what you need to live on and what you plan to spend, your eligibility should be unaffected by your annuity proceeds.

Since Medicaid eligibility can be affected by the size of your bank account and your disposable income, many seniors opt to access their equity in the form of a line of credit, which provides them with what they need to live comfortably every month without sacrificing their medical care or having to come out of pocket for healthcare expenses. A carefully chosen reverse mortgage specialist can help you choose your payout plan so you can retain your Medicaid eligibility and enjoy the financial security of your greatest asset while remaining in your home for years to come.

She’s begging to live! She is on borrowed time and can be euthanized at any moment - shelter is full and she is next on the list. Please don’t let her die...don’t let her walk out of that kennel thinking she’s finally free and adopted only to be walked to the kill room and be let down by people one last time. A39888907

* Tessa is dog friendly and wasn’t interested in meeting the cats.

Mesquite TX

We are NOT the City Shelter to where pictures were taken. FOR MORE INFO ON THIS PET please contact:
Mesquite City Animal Shelter at +1 972-216-6283
1650 Gross Rd, Mesquite, TX 75149
Ask for information about animal ID #A39888907

STATUS : - read comment for update from crossposter
Reverse mortgages are seen as a way for seniors to tap into their current homes as a source of income. By drawing from the equity they already have, they can pay off bills, make improvements to their current residence, or even take a well-earned vacation. There is one option that most do not even consider: using a reverse mortgage for the purchase of a newer property.

Understanding a Home Equity Conversion Mortgage

In order to see how using a reverse mortgage for purchase of a newer property works, you first must understand the Home Equity Conversion Mortgage (HECM). The HECM is still relatively new, but it provides a way for those who are 62 years or older to borrow against the value of the home. With approval, the borrower gains access to funds without having to make monthly payments. Repayment of the loan does not occur until the borrower either passes away or sells the property.

This loan is not an option for everyone. In fact, the guidelines stipulate a minimum age of 62 years old. The borrower must also either own their home outright or have a large amount of equity built up.

Using Reverse Mortgage for Purchase

For some older Americans, the idea of living closer to family members is ideal, but they do not necessarily want to give up their existing home. If this is the case, they may apply for a reverse mortgage. The borrower must occupy this second home for a set portion of the calendar, and the original residence, which the loan is against, must be the borrower's primary residence.

When using a reverse mortgage for purchase, there are some limitations. For example, this type of loan only covers 47 to 52 percent of the purchase price. It is the borrower's responsibility to make up the difference. This money can come from a retirement account, savings, or a gift. The actual amount borrowed depends on the age of the youngest borrower, current interest rate, mortgage insurance premium, and the home's value at appraisal.

Additionally, only certain types of residences qualify for a reverse mortgage. These include single-family homes and two to four unit homes where the borrower occupies one of the units. For condominiums, the U.S. Department of Housing and Urban Development requires preapproval. In addition, manufactured homes must also have FHA preapproval. The borrower must also obtain a certificate of occupancy for any new construction.

A reverse mortgage is a great way for seniors to get a second home closer to family. As with a traditional HECM, there are no monthly payments due. A single, balloon payment, is due at the sale of the home, when the last borrower moves out or passes away. This payment is a total of the principle plus interest. If the home sells for more than this amount, the borrower, heirs, or the estate retains the remaining equity. Should the home appraise and sell for less than the amount owed, there is a guarantee of no personal liability. Lenders are insured against this type of loss.

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