Information For Advisors

Great Info for Financial and Legal Advisors in Tampa FL

A reverse mortgage is not for everyone. Our mission is to work with trusted financial and legal advisors in Tampa Florida to be able to help evaluate if a reverse loan meets the requirements of your Tampa Florida client. We’re able to achieve this by supplying in-depth mortgage scenarios for you (with the client’s approval) as well as consultation together with out staff to be able to arrive at a determination that is in the best interest of all of the individuals, this includes adult children. I am straightforward with all of our clientele with regards to the positives and negatives of a reverse mortgage.


Reverse mortgages offer numerous benefits for the senior borrower. Here is a short list of just a few:

  • Tax free proceeds will not have an affect on Social Security or Medicare
  • Releases an illiquid asset (home equity)
  • Can allow a senior to acquire a new property without a monthly mortgage payment
  • Could provide a source of income while the borrower makes it possible their investment funds to recover as a result of market losses
  • Betters a senior’s everyday life or allows them to live out their dreams
  • Repays current loan, quite often liberating thousands in mortgage payments or preventing foreclosure.
  • No more monthly mortgage payments
  • Makes it possible for the senior to preserve their self-reliance while residing in the property
  • Can provide money for in home health-care or medical expenses


  • Uses part of the home equity that would be passed on to the estate or children
  • Growing reverse mortgage amount, decreased home equity over time
  • Can affect eligibility for need based services such as Medicaid
  • For individuals itemizing tax write-offs, a reverse mortgage gets rid of the write-off for mortgage loan
  • Settlement costs and upfront mortgage insurance are costly which means the borrowers really should plan on living in the home for a number of years to reduce overall costs

The Perfect Borrower For A Reverse Mortgage in Tampa

Even though there is not any stereotypical reverse mortgage client in Tampa, there are common characteristics you are able to look for in a prospective reverse mortgage borrower.

  • Cash flow poor, house wealthy
  • Desires to improve lifestyle and they have no worry about using home equity which would pass to the estate
  • Has taxable income source they wish to delay, while accessing tax-free source of income from a reverse house loan
  • Knows that the house is a retirement asset in which they live and would prefer to take advantage of their home to improve their present lifestyle