Kung manonood ka ng TV, malamang na nakakita ka ng mga pamilyar na boses tulad ng aktor na si Tom Selleck na nagpapakilala ng mga reverse mortgage bilang isang napakahalagang tool para sa sinumang retirado. Gayunpaman, ang bawat produkto sa pananalapi ay may dalawang panig, kaya maingat na timbangin ang mga kalamangan at kahinaan ng isang reverse mortgage.
Ano ang reverse mortgage?
A reverse mortgage allows homeowners over the age of 62 to convert real estate capital into cash.
Ang karamihan sa mga reverse mortgage ay insured ng Federal Housing Administration (FHA), na nangangahulugan na kung ang nanghihiram ay hindi nagbabayad sa utang, ito ay babayaran gamit ang FHA reserves.
Tinutukoy ng gobyerno ang mga reverse mortgage bilang “HECMs,” o home equity conversion mortgage, at ang mga borrower ay dapat magbayad ng upfront insurance premium at taunang premium na 0.5% ng natitirang loan para makasali. Ang mga premium na ito ay ginagamit upang pondohan ang mga reserba ng FHA.
Bilang karagdagan sa mga reverse mortgage na ginagarantiyahan ng FHA, may dalawang iba pang uri:
Proprietary Reverse Mortgages – Available ang mga ito sa pamamagitan ng mga pribadong nagpapahiram at hindi napapailalim sa mga linya ng kredito ng FHA.
Single Purpose Reverse Mortgages – Ang mga ito ay hindi gaanong karaniwan at ang perang nakukuha mo mula sa isa sa mga mortgage na ito ay magagamit lamang para sa isang partikular na layunin, hal. B. I-renovate ang bahagi ng bahay o magbayad ng buwis sa ari-arian. Mahahanap mo ang mga opsyong ito sa pamamagitan ng ilang estado at lokal na pamahalaan at nonprofit.
Paano gumagana ang isang reverse mortgage?
Ang isang reverse mortgage ay nagpapahintulot sa iyo na makakuha ng pera nang hindi nagbabayad kaagad ng iyong mga bayarin.
Consider this math: In a traditional mortgage, if you borrow $100,000 at a fixed rate of 6.71% for 30 years, you would pay $648 per month (principal and interest). If you borrow $100,000 in a reverse mortgage, your required monthly principal and interest payments are zero.
Too good to be true? OK then. You will still owe money. You don’t have to pay back the money until you sell the house, move out, or die. If the latter is the end of your reverse mortgage, the responsibility for paying the debt rests with your spouse or heirs, who may have to sell the home.
In our $100,000 mortgage example, the borrower pays about $648 per month. Of that, about $69 is paid in the first month to reduce the loan balance. The rest of the payment — about $447 — is interest, or what the lender charges you to borrow money — plus an estimated average property tax, which varies by region. The payment plan continues monthly, with more principal payments and less interest over time, until the loan term expires.
Reverse mortgages reverse this process. Instead of paying monthly, you don’t have to pay anything. However, that doesn’t mean the loan is free. The cost of interest is added to the mortgage balance, so the balance increases in the second month. Since the loan balance is now slightly larger and the interest cost is slightly higher, this process continues until the loan is repaid. This repayment is usually made within a year of moving out or death.
Mga kalamangan ng isang reverse mortgage
Mas mapapamahalaan mo ang iyong paggastos sa pagreretiro
Maraming nakatatanda ang may malaking pagbaba sa kita pagkatapos ng pagreretiro, at ang buwanang pagbabayad ay maaaring ang kanilang pinakamalaking gastos. Ang reverse mortgage ay nagpapahintulot sa iyo na madagdagan ang iyong nabawasang kita at patuloy na magbayad ng iyong mga bayarin.
Hindi mo kailangang lumipat
Rather than leaving your home, a reverse mortgage allows you to grow old in place (and possibly stay close to friends and family). While reverse mortgages have costs, in the long run, getting a reverse mortgage can be cheaper than moving and buying another home or renting in a new location.
Hindi mo kailangang magbayad ng buwis sa iyong kita
The income you get from a reverse mortgage isn’t taxed because the IRS considers the money “from the loan.” However, tax regulations can be complex, so be sure to consult a tax professional before taking a reverse mortgage.
Ikaw ay protektado kung ang balanse ay lumampas sa halaga ng iyong tahanan
As the reverse mortgage balance grows over time, it has the potential to exceed the fair market value of the property. However, the amount of debt to be paid cannot exceed the value of the property, as a reverse mortgage is an example of non-recourse financing. As a result, in this case, the mortgage lender cannot make any claims against your other assets or your heirs.
May pagpipilian ang tagapagmana mo
Pinahihintulutan ng mga reverse mortgage ang mga nanghihiram na magbayad nang maaga, ngunit kadalasang nagtatapos kapag lumipat ang nanghihiram, nagbebenta ng bahay, o namatay. Sa kaso ng probate, ang mga tagapagmana ay may ilang mga pagpipilian: maaari nilang ibenta ang ari-arian upang mabayaran ang utang at dalhin ang equity sa itaas ng balanse ng pautang; kung ang ari-arian ay sapat na halaga, maaari mong panatilihin ang bahay at i-refinance ang balanse ng reverse mortgage o, kung ang utang ay lumampas sa halaga ng ari-arian, maaaring bayaran ng tagapagmana ang utang sa pamamagitan ng pagbabalik ng ari-arian sa nagpapahiram. Ang tagapagpahiram ay maaaring magsampa ng isang paghahabol laban sa kumpanya ng seguro (halos palaging ang FHA) para sa hindi nabayarang balanse.
Disadvantages of reverse mortgages
Kailangan mong bayaran ito
The cost of a reverse mortgage includes lender fees (up to $6,000 in initial fees, depending on the size of your loan), FHA insurance fees, and closing fees. These costs can be added to the loan balance; however, this means the borrower will have more debt and less equity. You’ll also pay a nasty monthly service fee, which can increase by up to $35 if your interest rate is adjusted monthly.
Hindi mo maaaring ibawas ang interes mula sa iyong mga buwis hanggang sa mabayaran mo ang iyong utang
Mortgage interest can be deducted from taxes when you pay off your mortgage, but you cannot deduct interest on a reverse mortgage each year. You only receive this benefit when you actually pay off the loan.
Maaari mong hindi sinasadyang lumabag sa iba pang mga kinakailangan ng programa
Sa madaling salita, ang isang reverse mortgage ay maaaring magdulot sa iyo na lumabag sa iyong mga limitasyon sa asset ng programa ng Medicaid at Supplemental Security Income (SSI). Ito ay kumplikado, kaya siguraduhing kumunsulta sa isang abogado ng mga karapatan ng geriatric o legal na klinika bago maghanap ng isang reverse mortgage program.
Maaaring nasa foreclosure ang iyong tahanan
Since reverse mortgages do not require monthly principal and interest payments, foreclosure seems impossible. However, this is not the case; foreclosures can occur if you do not comply with property taxes, homeowners insurance, or required HOA fees.
You may not be able to navigate state changes
Reverse mortgages can be complicated, and when your status changes, so can your reverse mortgage options. For example, if you go to a long-term care facility, will you still be considered a resident of your home? If you get married after getting a reverse mortgage, will your spouse have to move out of the property when you die? For more information on these and other issues, you’d be better off talking to a lender, a lawyer specializing in seniors’ rights, or contacting a free legal clinic.
Sino ang isang mahusay na kandidato para sa isang reverse mortgage?
Ang reverse mortgage ba ay talagang magandang ideya dahil sa potensyal na kumplikado at panganib na malagay sa panganib ang bahay? Para sa ilang may-ari ng bahay, ang sagot ay maaaring oo:
If you plan to stay at home long-term – since you will be paying additional closing costs through a reverse mortgage, you will need to stay at home long enough to justify the cost. So if you’re 62, have a history of longevity, and believe that your current location is your forever home, a reverse mortgage might make sense. And if you live in a market where property values are rising rapidly, your property may be worth more when you or your heirs pay off the loan.
When you need more money for day-to-day expenses—if you’re struggling to manage retirement expenses, a reverse mortgage can help you have the cash ready to handle those tasks. With the consumer price index reflecting sharp increases in many spending categories like food and gasoline, this may be your immediate need.
Sino ang masamang kandidato para sa reverse mortgage?
Mayroong maraming mga palatandaan na ang isang reverse mortgage ay hindi isang magandang opsyon:
If you’re planning a move — keep in mind that you’ll need a long runway to make it worthwhile to pay all of your closing costs, mortgage insurance premiums, and other expenses. So if you think you may soon be moving to a new location or downsizing to a smaller location, stay away from reverse mortgages.
Needing to move for health reasons – a reverse mortgage requires you to live at home, which means moving to a nursing home or some sort of assisted living may result in you having to pay off your loan. If you are constantly worried about your health, it may be wise to avoid a reverse mortgage.
But if you are struggling to pay the other costs of your home-one of the most important components of a reverse mortgage is your ability to pay your property taxes and homeowner’s insurance. And if you have been struggling to raise money for these basic expenses, increasing your debt should not be on the table.
Narito Kung Paano Kumuha ng Reverse Mortgage Kung Ito ay Tama Para sa Iyo
Kung natimbang mo ang lahat ng mga kalamangan at kahinaan at sa tingin mo ay mabuti para sa iyo ang isang reverse mortgage, narito kung paano ito makukuha:
Tingnan kung kwalipikado ka. Upang makakuha ng reverse mortgage, dapat mong matugunan ang ilang pangunahing kinakailangan: Dapat ay hindi bababa sa 62 taong gulang ka, nakatira sa iyong sariling tahanan, at may malalaking asset (karaniwang hindi bababa sa 50%).
Makipagkita sa isang pinansiyal na tagapayo na inaprubahan ng HUD. Dahil napakakumplikado ng mga reverse mortgage, kakailanganin mong makipagkita sa isang eksperto na maaaring gumabay sa iyo sa lahat ng iyong mga opsyon.
Ihambing ang maraming nagpapahiram. Ang bawat nagpapahiram ay naiiba at naniningil ng iba't ibang mga bayarin. Siguraduhing tingnan mo ang isang hanay ng mga opsyon upang mahanap ang pinakamababang halaga ng pagpasok at pag-aayos, pati na rin ang mga pinakamahuhusay na rate.
Talakayin ito sa iyong mga tagapagmana. Kung plano mong iwan ang iyong ari-arian sa sinuman sa iyong sambahayan, dapat mong talakayin ang iyong reverse mortgage plan sa kanila. Tiyaking naiintindihan nila kung ano ang ibig sabihin nito at kung ano ang gagawin kapag namatay ka.
Bottom Line: Dapat Ka Bang Kumuha ng Reverse Mortgage?
Reverse mortgages don’t have a perfect reputation due to some scams targeting unsuspecting seniors. Even reputable companies try to trick homeowners into taking out reverse mortgages through dishonest marketing: Consumer Financial Protection Bureau sues and hits American Advisors Group with $1.1 million maximum in late 2021 Penalty for one of the reverse mortgage names. for misleading marketing.
So the simple rule is: be very, very careful about endangering your home.
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