Use Your Home Equity Without Giving Up Your Home (with Michael Standard)
Most retirees have more money in their home than in their savings account, and most of them never touch it. Many are afraid that using their home equity means losing the house. This week on Safe Money Radio, Brett Blake sits down with Michael Standard, a former stockbroker who now helps homeowners understand the home equity conversion mortgage, a government-insured program built for people 62 and older.
Description:
Most retirees have more money in their home than in their savings account, and most of them never touch it. Many are afraid that using their home equity means losing the house. This week on Safe Money Radio, Brett Blake sits down with Michael Standard, a former stockbroker who now helps homeowners understand the home equity conversion mortgage, a government-insured program built for people 62 and older.
Michael explains what the program actually does, why no monthly payment is required, and what happens to the home after you pass. He walks through the biggest misconception he hears, that the government takes your house, and why the home still goes to your children. He is also clear about the two times he tells people not to do it. This is a plain-language look at an option most retirees have never had explained to them.
Run your own numbers with the free WIYN calculator at brettblake.annuity.com, about three minutes. Or book a Retirement Clarity Session with Brett. Not a sales call. Your numbers, not ours.
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About the host
Brett A. Blake hosts Safe Money Radio and is the CEO of Annuity.com. He is 58, a Harvard MBA who will tell you the degree taught him almost nothing about retirement income. Before Annuity.com, he helped scale a business to nearly $1 billion in annual sales. He lives in Gilbert, Arizona with his wife Erin, and asks the questions every retiree would ask if they had access to the right rooms.
About the guest
Michael Standard is a former stockbroker who now focuses on helping older homeowners use their home equity in retirement. He is the president and founder of Hero Loans, LLC, and he specializes in the home equity conversion mortgage (HECM), the government-insured program overseen by the Federal Housing Administration. He is licensed in Oregon, Texas, Washington, and Florida.
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DISCLAIMER:Safe Money Radio is for educational purposes only and does not constitute investment, tax, or legal advice. Products discussed may not be appropriate for everyone. Always consult a licensed professional before making financial decisions. Product availability varies by state. The home equity conversion mortgage is a loan program overseen by the Federal Housing Administration and is not offered by Annuity.com, Inc. Our Agents are licensed to sell insurance products, including annuity products that guarantee retirement income based on the financial strength of the insurance company providing the product. Annuities may not be suitable for everyone. Guarantees are not government-backed or provided by Annuity.com, Inc. Annuity.com, Inc. is a licensed insurance agency. National Producer Number (NPN): 21086345. Licensed in all states where required by law. Doing business in Florida and California as "Annuity.com Insurance Marketing," CA License No. 6013124. In New York, licensed as Annuity.com Insurance Solutions, License No. LA-1860109.
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