Michael Birk at Mutual of Omaha Reverse Mortgage

🎃"It's just a bunch of hocus pocus!" – Winifred Sanderson
Wishing you a night full of magic, mystery, and maybe a little mischief! Happy Halloween to all the ghosts, ghouls, and goblins out there!

🎃"When black cats prowl and pumpkins gleam, may luck be yours on Halloween!"🕷️Wishing everyone a spooky and safe night filled with tricks, treats, and a little magic in the air!

🌟By tapping into your home equity, a reverse mortgage provides a steady stream of income or a lump sum, allowing you to cover living expenses, pay off existing debts, or manage rising costs without dipping into your savings. This financial flexibility can help you maintain your lifestyle and retire when you’re ready, even in the face of inflation.

Explore how a reverse mortgage could help you retire comfortably—reach out to me today!

Unlike traditional mortgages, which usually have terms of 15 to 30 years, reverse mortgages do not have fixed term lengths. The loan must be repaid if the homeowner permanently leaves the home, either by selling it or in the event of their passing.

🔑Want to learn more about how reverse mortgages work? Contact me today for more information!

To qualify for a reverse mortgage, the property must be your primary residence. This means the home you wish to use for the reverse mortgage needs to be where you live most of the time.

📣Ready to explore if a reverse mortgage is right for you? Contact me today for more information!

💡Reverse mortgages involve various costs and fees, which can differ among lenders. Homeowners should be aware of the following typical expenses:

Origination Fees: Paid to the lender, these fees are capped at $6,000.

Closing Costs: These are fees paid to third-party vendors and may include charges for appraisals, recording, title searches, credit checks, surveys, mortgage taxes, and inspections.

Mortgage Insurance Premiums: Charged at the loan's inception and annually throughout its duration, these fees go to the FHA. They ensure that homeowners receive their loan advances and are protected against owing more than the property’s value. The annual premium is 0.5% of the loan balance.

Servicing Fees: These fees are charged by the lender for managing the loan, including sending monthly statements, disbursing funds, and monitoring compliance with loan terms.

These costs can either be paid upfront or deducted from the loan proceeds.

Ready to learn more about reverse mortgages and how they might benefit you? Contact me today!

Did you know that what you eat can significantly impact your brain function and overall health as you age? 🧠The 2020-2025 Dietary Guidelines for Americans recommend a diet rich in fruits, vegetables, whole grains, healthy fats, and lean proteins.

Studies show that following the Mediterranean-style diet, MIND diet, or DASH diet can offer numerous benefits, including lower blood pressure, reduced risk of heart disease and type 2 diabetes, and improved cognitive function.

Ready to make a change? Start by incorporating small tweaks into your daily diet, like choosing more leafy greens or fatty fish. Even small steps can make a big difference!

❓️Think you know everything about reverse mortgages? Think again! Here are three facts that might change the way you view this financial tool.

Have more questions? I am here to provide the answers. Contact me today!

Accessing home equity can provide tax-free funds during retirement, particularly if a significant portion of your wealth is invested in your home. Funds obtained through a reverse mortgage are considered loan proceeds rather than income, so they are not subject to taxes. A notable benefit of a reverse mortgage is that it can pay off your existing mortgage and does not require monthly mortgage payments* to repay it. This can help eliminate what is often the largest monthly expense for homeowners.🏡

Curious how a reverse mortgage could benefit you? Contact me today to explore your options!

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👉️Don’t let myths hold you back from making informed decisions about your retirement! Contact me to learn more about how a reverse mortgage could benefit your financial future.

📌One of the main eligibility criteria for a reverse mortgage is the borrower's age. The minimum age required to qualify for a reverse mortgage is 62 years. For joint borrowers, the age of the youngest borrower is used to determine the loan amount. If you are 62 or older but your spouse is younger, you can still get a HECM if you designate your spouse as a non-borrowing spouse.

Want to learn more? Contact our team today for a consultation!

🏃‍♂️Happy Healthy Aging Month! Studies show that taking just 8,000 steps a day can significantly reduce your risk of death from all causes by 51%. It's time to lace up your shoes and get moving! Find ways to incorporate more steps into your daily routine, whether it's gardening, taking the stairs, or simply walking around the neighborhood.

When your investment portfolio drops, you may face the choice of withdrawing more or reducing spending, risking running out of money. A reverse mortgage lets you access funds from a line of credit, lump sum, or fixed monthly payments, without needing to sell investments at a loss. Plus, there are no mandatory monthly payments, preserving your cash flow. Those with reverse mortgages can avoid selling investments during downturns and rely on these funds for stability.

🎯Curious how a reverse mortgage might fit into your retirement plan? Contact me today to find out!

HUD establishes minimum residual income requirements. These criteria are essential in the lender’s review process, ensuring that you, as a borrower, have sufficient funds to cover ongoing property-related expenses such as property taxes, homeowner’s insurance, and maintenance costs after obtaining a reverse mortgage.

Want to know what the minimal residual income requirement would be for you? Contact me today.

💫Yes, you can obtain a reverse mortgage even if you have an existing mortgage on your home. The funds from the reverse mortgage will be applied first to pay off your current mortgage balance, and any remaining proceeds can then be used for other purposes.

Ready to explore your options? Contact me today to learn more!

Are you looking for a way to enhance your financial stability during retirement? A reverse mortgage could be the solution you’ve been searching for. Swipe to see three of the many benefits a reverse mortgage offers, and explore how this unique financial tool can support your retirement goals.

💡Ready to learn more? Contact me today to see if a reverse mortgage is right for you.

👉️Reverse mortgages typically involve upfront closing costs, similar to a traditional mortgage. You don't make monthly mortgage payments. Instead, you receive payments from the lender. While interest does accrue on a reverse mortgage, you're not required to make interest-only payments. The interest is deferred until the loan is repaid, typically when you sell your home or move out.

Want to learn more about reverse mortgage costs and benefits? Contact me today.

Want to learn how a reverse mortgage could work for you? Contact me today to explore your options!

🏠️For both reverse and traditional mortgages, the appraisal ensures the home’s value justifies the loan amount. However, with a reverse mortgage, the appraisal helps determine the maximum loan amount you can access based on your home's value.

Curious about how a reverse mortgage could benefit you? Contact me today to learn more!

💙We unite in remembrance and gratitude. Let’s take a moment to reflect on the courage of the first responders, the strength of the survivors, and the spirit of unity that defines us. Together, we honor the legacy of those who were affected. 🇺🇸

We honor the bravery of those who risked everything to help others and the enduring spirit of unity that emerged from the tragedy. Let’s never forget the sacrifices made and the strength shown.🇺🇸

Managing medical expenses can be a significant challenge during retirement. According to the 2018 Health and Retirement Study, 12% of the median retiree’s total retirement income goes towards medical expenses, and 25% of their Social Security benefits are spent on healthcare costs.

If you're looking for a way to ease this financial burden, a Reverse Mortgage could be the solution. By tapping into your home’s equity, you can create an additional source of income to help cover medical expenses and ensure your retirement years are as comfortable and stress-free as possible.

Take control of your retirement finances today. Contact me to learn how a Reverse Mortgage can work for you.



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Happy Labor Day to all the incredible workers who give their all every day! May your day be filled with relaxation and pride in all you've accomplished. 🎉

Labor Day is a tribute to the contributions of all workers who keep our country moving forward. From the factory floors to the office desks, your efforts are the backbone of our nation. Wishing everyone a well-deserved break and a joyful Labor Day! 🌟

🙌On this National Senior Citizens Day, we celebrate the incredible contributions and achievements of our seniors. They’ve paved the way for future generations with their wisdom and resilience.

Let's take a moment to thank and appreciate the seniors in our lives for everything they’ve done.