When the first Camaro debuted, Baby Boomers were teenagers. Today, they’re retiring with more wealth than any preceding generation. What could be better than driving a Camaro, eating at Bob’s Big Boy and enjoying a drive in movie? Well…. Those days are long gone, but Chevy has made reintroduced the Camaro and for those of us with excess cash, even from a reverse mortgage consider the possibilities. Press the play button to watch CarTV.com’s interview with the car affecianado and late night talk show host:
Sunwest a mortgage company located in California, has introduced their own proprietery reverse mortgage called the Cash Keeper. Seniors can use this loan for 2nd homes, oh my! Sunwest says, “This special type of home loan lets homeowners convert a portion of his or her home equity into cash providing for a secure financial future. Without selling the home, giving up title, or taking on a new monthly payment senior homeowners have the benefit of maintaining a lifestyle they have earned. The money from the reverse mortgage provides seniors with the financial security they need to fully enjoy their retirement years.”
Cash Keeper™ Features:
If you are in a position to take a loan, I would surmise that the best loan has the most benefits. Of course you want to strive for the best interest rate, lowest fees and best general terms but everyone wants perks. Perks like a a gift card, or cash or even a trip are all nice, but the biggest perk of all is the ability to deduct interest paid. I came across an insightful question in the San Francisco Chronicle asking whether or not Reverse Mortgage interest is deductible or not: (more…)
