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financial services

Clarifying the Financial Picture

Need assistance with sorting out the complex decisions and figuring out what role your real estate investment plays in your overall financial picture? Those considerations include taxes, retirement savings withdrawal schedules, long-term care needs, inheritance issues and others.
SRES® Designees Have Financial Expertise for Seniors

SRES® designees understand managing capital gains and the tax implications of owning real estate. They can provide information that addresses a host of issues, such as the uses of pensions, 401K accounts, and IRAs in real estate transactions, and how Medicare, Medicaid, and Social Security affect real estate decisions for senior citizens. Are you or a loved one ready to talk real estate?


Assistance Programs


Whether you decide to sell your home and move on, or remain in it, you may qualify for programs that can help reduce your expenses. Many seniors who qualify never apply, because they do not know the programs exist.

Your SRES® may be able to direct you to community, government and private programs designed to provide additional financial assistance. Many senior agencies can be found on the Internet, but your SRES® can save you time by supplying you with contact phone numbers.

Some examples of assistance that might apply are:

  • Supplemental Security Income (SSI), a program administered by the Social Security Administration. Designed for Americans over age 65 who meet certain income and savings guidelines, it provides monthly cash benefits to augment existing income. Learn more about SSI or call (800) 772-1213.

  • Those who qualify for SSI may also be eligible in some states for additional state supplements and other public benefits.

  • Benefit programs exist to help seniors with medical and prescription costs. AARP’s Web site is an excellent resource for finding programs, or call AARP at (888) 687-2277.

  • Many states offer property tax relief for seniors remaining in their own homes. For more information, contact your local property tax office.

  • To find information on other programs that help with expenses such as utility bills, home weatherization, home health care, transportation and food, you can contact the U.S. Administration on Aging at (800) 677-1116; the National Council on the Aging; and AARP. Canadian seniors can contact CARP or (888) 363-2279. Taking a reverse mortgage may impact your eligibility for certain programs. Talk to your reverse mortgage counselor about how it might affect your situation.


Taking a reverse mortgage may impact your eligibility for certain programs. Talk to your reverse mortgage counselor about how it might affect your situation.


Senior Reverse Mortgage Information


A reverse mortgage allows a homeowner over the age of 65 to tap home equity for cash without the burden of making monthly repayments. A reverse mortgage:

  • Is a loan against your home’s equity.

  • Requires no repayment as long as you reside permanently in your home.

  • Is repaid at death, the sale of the home, or if the owner permanently moves out.

  • Can be made as a lump sum, used as a credit line as needed, or can be paid out as monthly supplemental income.

  • Can never exceed the value of the home. If at the time of repayment, the home is worth less than the amount borrowed, the lender can never demand more than the market value of the home.

An SRES® works with reverse mortgage counselors and lenders to provide clients with financial alternatives to selling their home. These professionals can help senior homeowners determine their eligibility for reverse mortgage programs and assess the amount available based on the home value, age of the homeowner and area of the country in which the owner resides.

Seniors should consider if borrowing against their home with a reverse mortgage is a subject they want to discuss with adult children. A reverse mortgage will result in less home equity left to heirs. 

For more senior reverse mortgage information, contact us today!




Many factors affect how much money you will realize from the sale of your home, as well as how the proceeds will impact your future financial situation. Looking at tax issues before listing the home is preferable to receiving an unexpectedly large tax bill later.

Tax and estate planning can help you maximize sales proceeds and anticipate the consequences to future income. Your SRES® can help recommend legal, accounting and tax professionals to assist you

             Michael Daryanani

             Reverse Operations

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