WHAT IS A REVERSE MORTGAGE? A reverse mortgage is a loan that enables homeowners who are at least 62 years old to convert some of their home equity into cash, or to fi nance a home purchase with the freedom of no monthly mortgage payments. The borrowers continue to live in and own their home. Unlike a traditional home equity loan or home equity line of credit, a reverse mortgage doesn’t have to be repaid until the last surviving borrower no longer lives in the home, or the home is sold.* The homeowners remain responsible for keeping current with property taxes and hazard insurance, and maintaining the condition of the home.

AM I ELIGIBLE? To be eligible for a reverse mortgage:

• All titleholders must be age 62 or older.

• The home must be the borrowers’ primary residence, and must meet Federal Housing Authority (FHA) minimum property standards.

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WILL THE BANK OWN MY HOUSE? No. Just like a traditional mortgage, as long as the terms of the loan are met, the borrowers retain full homeownership and can sell the home at any time.

HOW MUCH MONEY CAN I GET?

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FREQUENTLY ASKED QUESTIONS About Reverse Mortgages

You must have sufficient home equity. A Senior Mortgage Loan Originator

from Luxury Mortgage Corp can tell you if you have enough home equity to

qualify.

This is determined by the age of the youngest borrower, your home value, the

amount of equity, FHA lending limits, the current interest rate, and the reverse

mortgage product and payment option you choose. A Senior Mortgage Loan

Originator from Luxury Mortgage Corp can provide you with a quote that’s tailored

to your specific situation, with no cost or obligation.

HOW DO I RECEIVE MY PROCEEDS? You can take your funds as a lump sum; monthly payments for a specifi ed time period, or for as long as you live in the home; a line of credit; or a combination of these.

AM I SPENDING MY CHILDREN’S INHERITANCE?

WHAT ARE THE COSTS ASSOCIATED WITH A REVERSE MORTGAGE? In addition to interest, the costs can include a property appraisal fee, origination fee, closing costs, mortgage insurance premium, servicing fee and a modest charge for HECM counseling. While closing costs vary based upon the type and size of the loan, they’re the same as those for any traditional mortgage. You can roll most of the up-front costs into the loan, so out-of-pocket expense can be minimized. We will give you a detailed cost breakdown, so you know exactly what to expect.

For answers to all your reverse mortgage questions, contact me anytime:

*If the borrower does not meet loan obligations such as taxes and insurance, then the loan will need to be repaid.

Wendy Salpeter, Luxury Mortgage Corp

Senior Mortgage Loan Originator, NMLS# 118429561-853-2611

wsalpeter@luxurymortgage.com

Luxury Mortgage Corp 150 East Palmetto Park Rd, Suite 450Boca Raton, FL 33432Licensed in CA, CT, FL, GA, MA, MD, NJ, WA, TX and NY

This material is not from HUD or FHA and has not been approved by HUD or any government agency.

Equal Housing Lender. ©2015 Luxury Mortgage Corp. This is not a commitment to lend. Restrictions apply. Some products may not be available in all states. NMLS # 2745. Licensed by theDepartment of Business Oversight under the California Residential Mortgage Lending Act CRMLA # 4130164, Colorado Mortgage Company Registration # 2745-203.327.6000-Check thelicense status of your mortgage loan originator at http://www.dora.state.co.us/real-estate/index.htm, CT Licensed Mortgage Lender, DC# MLB 2745, FL Licensed Mortgage Lender#MLD454, Georgia Residential Mortgage Licensee # 23006-Four Landmark Square, Suite 300, Stamford, CT 06901, Illinois Residential Mortgage Licensee # 6615 by the Illinois Departmentof Financial and Professional Regulation, Division of Banking, 122 South Michigan Avenue, Suite 1900, Chicago, Illinois 60603, (312) 793-3000, ME Supervised Lender License# 6618,Maryland Mortgage Lender #10157, Massachusetts Licensed Mortgage Lender/Broker, License #MC2745, Michigan License # FR0019639 and #SR0019640, Licensed by the NewHampshire Banking Department-#10099MB, Licensed Residential Mortgage Lender -New Jersey Department of Banking & Insurance, New Mexico Mortgage Loan Company License No.03841, Licensed Mortgage Banker- New York State Department of Financial Services-122 East 42nd Street, Suite 4900 New York, NY 10168, North Carolina Mortgage Lender License #L-104218, Licensed by the Pennsylvania Department of Banking - Mortgage Lender License #27662, Rhode Island Licensed Lender #20031560LL/Broker #20092580LB, South Carolina BFIMortgage Lender/Servicer License # MLS 2745, Texas Mortgage Banker Registration-Four Landmark Square, Suite 300, Stamford, CT 06901, Washington Consumer License # CL-2745.Luxury Mortgage Corp.®, luxurymortgage.com® and Luxury Mortgage® are registered service marks of Luxury Mortgage Corp. All Rights Reserved. This material is not from HUD or FHA and has not been approved by HUD or any government agency.

A reverse mortgage may help you plan for a more comfortable retirement, lived with

greater financial independence. At Luxury Mortgage Corp , we encourage you to

involve family members in your decision process—so you can make the choice that’s

right for you. When the home is sold or is no longer your primary residence, the loan

must be repaid. Any remaining equity belongs to you or your estate, and can be

transferred to heirs.