55+ Lifestyles / 55 Plus Lifestyles /
Elder Options / Retirement Options
Services We Provide:
When the time comes that you need to consider selling
your home, Tim Molony and Anna Morgan are the ones
to call (608-592-7306). We know how important a
decision like this can be for you.
There are many things to be consider, whether they
are financial or health, downsizing or just moving
closer to the children or medical facilities - we will
help you by giving you all the information you need to
make a comfortable and informed decision.
We explain the services our company offers, the
benefits, and the negatives, all of the features, and all
of the pricing- we won't nickel and dime you all along
the way like some other flat fee programs.
Feel free to contact us for anything:
Call us at 608-592-7306 or our cell 608-445-8464 or
email us at: molonyrealestate@yahoo.com.
Remember, a note will take longer, here is our Address:
Molony Real Estate, LLC
PO Box 194
Lodi, WI 53555
We will come to your home or meet you anywhere
anytime at your convenience.
Just give us a call to start 608-592-7306.
Elder Options / Retirement Options
Services We Provide:
When the time comes that you need to consider selling
your home, Tim Molony and Anna Morgan are the ones
to call (608-592-7306). We know how important a
decision like this can be for you.
There are many things to be consider, whether they
are financial or health, downsizing or just moving
closer to the children or medical facilities - we will
help you by giving you all the information you need to
make a comfortable and informed decision.
We explain the services our company offers, the
benefits, and the negatives, all of the features, and all
of the pricing- we won't nickel and dime you all along
the way like some other flat fee programs.
Feel free to contact us for anything:
 | Consulting | |
| Analysis | |
| Advice | |
| "REMEMBER THE ONLY DUMB QUESTION IS |
- THE ONE YOU NEVER ASK, SO PLEASE ASK!"
Call us at 608-592-7306 or our cell 608-445-8464 or
email us at: molonyrealestate@yahoo.com.
Remember, a note will take longer, here is our Address:
Molony Real Estate, LLC
PO Box 194
Lodi, WI 53555
We will come to your home or meet you anywhere
anytime at your convenience.
Just give us a call to start 608-592-7306.
REVERSE MORTGAGE - Not as good
as the Commercials say they are...
Reverse Mortgages = Elder Abuse
Dear Editor,
The most disgusting form of ELDER ABUSE is going on
on TV and on the radio right now. Adult Children are
being encouraged to pressure their Elderly Parents to
give up all of their security in their homes by getting a
“Reverse Mortgage”.
“Need money for a down payment on your home?” “Have
credit cards & bills that you cannot payoff?” “Need
money for your Child's College?” “Well, tell YOUR
parents that they can help you by taking out a loan on
their already paid for home! It’s called a “Reverse
Mortgage and it was designed by the Federal
Government – so you know it’s safe!”
SAFE!!! Remember parents, the Federal Government
designed the ARM’s (Adjustable Rate Mortgages) too!
These greedy thieves are encouraging desperate adults
to tap their parents dry without telling them the serious
pitfalls of the Reverse Mortgage. Remember, these are
not your Local Bank Tellers offering you these options.
These players are an 800# and their location is usually in
Florida, Nevada, or boldly even a location not in the
United States. If your adult children need money and are
being encouraged to put the guilt trip on you – just
remember when they were young and you could have
“saved money” by just renting an apartment to raise
them in…instead you saw the intelligence of owning to
raise your children in a home of your own, to grow equity
for the future, to have a Safety Net after retirement.
If you are still considering making the transaction,
please ask yourself these five questions before you
sign on the dotted line:
5 QUESTIONS TO ASK BEFORE CONSIDERING A REVERSE
MORTGAGE:
1) DO YOU REALLY NEED A REVERS MORTGAGE?
Why are you interested in these loans? What would you
do with the money you would get from one? Are the
needs you intend to meet really worth the high total cost
of these loans? If you want to take a dream vacation, a
reverse mortgage is a very expensive way to pay for it.
Investing the money from these loans is an especially
bad idea, because the loan is highly likely to cost more
than you could safely earn. If anyone is trying to sell you
something and recommending you use a reverse
mortgage to pay for it, that’s generally a good sign that
you don’t need it and shouldn’t be buying it.
2) CAN YOU AFFORD A REVERSE MORTGAGE?
These loans are very expensive, and the amount you
owe grows larger every month. The younger you are
when you take out a reverse mortgage, the more the
compound interest will grow, and the more you will owe.
On the other hand, due to high up-front costs, these
loans can be especially costly if you sell and move just a
few years after taking one out.
3) CAN YOU AFFORD TO START USING UP YOUR HOME
EQUITY NOW?
The more you use now, the less you will have later when
you may need it more, for example, to pay for future
emergencies, health care needs, or everyday living
expenses. This is especially so if your needs suddenly
grow or your income does not keep pace with inflation.
You may also need your equity to pay for future home
repairs or a move to assisted living. If you are not facing
a financial emergency now, then consider postponing a
reverse mortgage. Homeowners who decide to wait
have “a reasonable expectation of securing a better
product at a lower cost in the not-too-distant future,”
according to a report by the Fidelity Research Institute.
4) DO YOU HAVE LESS COSTLY OPTIONS?
Do you have other financial resources that you could
use instead of taking out a loan? If you don’t, and if you
could easily make the monthly repayments on a home
equity loan or home equity line-of-credit, these
alternatives are much less costly than a reverse
mortgage. Many state and local governments offer very
low-cost loans for paying your property taxes or making
home repairs. Have you seriously looked into the costs
and benefits of selling your home and moving to a less
expensive
one?
5) DO YOU FULLY UNDERSTAND HOW THESE LOANS
WORK?
Reverse mortgages are quite different from any other
loans, and the risks to borrowers are unique. Before
considering one, you need to do your homework
carefully and thoroughly.
I just wished that my friend up north would have done so
before she lost everything she saved so long to have
(Oh, and the kids didn’t use the money as they promised
they would - and now they still have nothing). Sometimes
tough love is the only answer – I believe that financial
counseling for the adult kids would have saved them all
from financial devastation.
Sincerely,
Anna Morgan
608-592-7306
PO Box 194
Lodi, WI 53555
as the Commercials say they are...
Reverse Mortgages = Elder Abuse
Dear Editor,
The most disgusting form of ELDER ABUSE is going on
on TV and on the radio right now. Adult Children are
being encouraged to pressure their Elderly Parents to
give up all of their security in their homes by getting a
“Reverse Mortgage”.
“Need money for a down payment on your home?” “Have
credit cards & bills that you cannot payoff?” “Need
money for your Child's College?” “Well, tell YOUR
parents that they can help you by taking out a loan on
their already paid for home! It’s called a “Reverse
Mortgage and it was designed by the Federal
Government – so you know it’s safe!”
SAFE!!! Remember parents, the Federal Government
designed the ARM’s (Adjustable Rate Mortgages) too!
These greedy thieves are encouraging desperate adults
to tap their parents dry without telling them the serious
pitfalls of the Reverse Mortgage. Remember, these are
not your Local Bank Tellers offering you these options.
These players are an 800# and their location is usually in
Florida, Nevada, or boldly even a location not in the
United States. If your adult children need money and are
being encouraged to put the guilt trip on you – just
remember when they were young and you could have
“saved money” by just renting an apartment to raise
them in…instead you saw the intelligence of owning to
raise your children in a home of your own, to grow equity
for the future, to have a Safety Net after retirement.
If you are still considering making the transaction,
please ask yourself these five questions before you
sign on the dotted line:
5 QUESTIONS TO ASK BEFORE CONSIDERING A REVERSE
MORTGAGE:
1) DO YOU REALLY NEED A REVERS MORTGAGE?
Why are you interested in these loans? What would you
do with the money you would get from one? Are the
needs you intend to meet really worth the high total cost
of these loans? If you want to take a dream vacation, a
reverse mortgage is a very expensive way to pay for it.
Investing the money from these loans is an especially
bad idea, because the loan is highly likely to cost more
than you could safely earn. If anyone is trying to sell you
something and recommending you use a reverse
mortgage to pay for it, that’s generally a good sign that
you don’t need it and shouldn’t be buying it.
2) CAN YOU AFFORD A REVERSE MORTGAGE?
These loans are very expensive, and the amount you
owe grows larger every month. The younger you are
when you take out a reverse mortgage, the more the
compound interest will grow, and the more you will owe.
On the other hand, due to high up-front costs, these
loans can be especially costly if you sell and move just a
few years after taking one out.
3) CAN YOU AFFORD TO START USING UP YOUR HOME
EQUITY NOW?
The more you use now, the less you will have later when
you may need it more, for example, to pay for future
emergencies, health care needs, or everyday living
expenses. This is especially so if your needs suddenly
grow or your income does not keep pace with inflation.
You may also need your equity to pay for future home
repairs or a move to assisted living. If you are not facing
a financial emergency now, then consider postponing a
reverse mortgage. Homeowners who decide to wait
have “a reasonable expectation of securing a better
product at a lower cost in the not-too-distant future,”
according to a report by the Fidelity Research Institute.
4) DO YOU HAVE LESS COSTLY OPTIONS?
Do you have other financial resources that you could
use instead of taking out a loan? If you don’t, and if you
could easily make the monthly repayments on a home
equity loan or home equity line-of-credit, these
alternatives are much less costly than a reverse
mortgage. Many state and local governments offer very
low-cost loans for paying your property taxes or making
home repairs. Have you seriously looked into the costs
and benefits of selling your home and moving to a less
expensive
one?
5) DO YOU FULLY UNDERSTAND HOW THESE LOANS
WORK?
Reverse mortgages are quite different from any other
loans, and the risks to borrowers are unique. Before
considering one, you need to do your homework
carefully and thoroughly.
I just wished that my friend up north would have done so
before she lost everything she saved so long to have
(Oh, and the kids didn’t use the money as they promised
they would - and now they still have nothing). Sometimes
tough love is the only answer – I believe that financial
counseling for the adult kids would have saved them all
from financial devastation.
Sincerely,
Anna Morgan
608-592-7306
PO Box 194
Lodi, WI 53555
We know HONEST BANKERS that have successfully
helped many Homeowners and buyers in the "Golden
Years" of their lives.
Some of these Buyers & Sellers were told by other
Bankers that they cannot get a loan or would have to take
a higher interest rate because they are now retired or
cannot produce pay stubs - yet they have enough income
invested in their Banks to pay income taxes on it, not to
mention a great credit rating and a lot of equity in their
home.
Molony Real Estate can refer Good and Honest people
to you = we just cannot pay these Good & Honest
People or receive pay from these Good & Honest
People for referring you to them.
Molony Real Estate, and other Real Estate Brokers
and Real Estate Agents, BY LAW, cannot take or
give money or anything of value (Yes, that includes the
pony) to anyone for giving or getting business from
anyone who is not currently holding a Valid Real Estate
License.
We greatly value your referrals, but the law is the law. You
will always have our thanks and our friendship and the
knowledge that your family and friends will be treated as
courteously and professionally as we treated you.
Remember, when someone makes a referral to you
relating to the purchase or sale of your real estate and
they receive something special in return, who's best
interests do they really have in mind?
Real Estate
Settlement Procedures Act -
Section 8: Kickbacks,
Fee-Splitting, Unearned
Fees and more...
Section 8 of RESPA prohibits anyone
from giving or accepting a fee, kickback
or any thing of value in exchange for
referrals from settlement service businesses
involving a federally related mortgage loan
(most loans are).
In addition, RESPA prohibits Fee Splitting
and Receiving Unearned Fees for Services
Not Actually performed.
Violations of Section 8's anti-kickback,
referral fees and unearned fees
provisions of RESPA are subject to criminal
and civil penalties. In a criminal case a
person who violates Section 8 may be fined
up to $10,000 and imprisoned up to one
year. In a private law suit a person who
violates Section 8 may be liable to the
person charged for the settlement service an
amount equal to three times the amount of
the charge paid for the service.
HERE IS THE LINK:
Settlement Procedures Act -
Section 8: Kickbacks,
Fee-Splitting, Unearned
Fees and more...
Section 8 of RESPA prohibits anyone
from giving or accepting a fee, kickback
or any thing of value in exchange for
referrals from settlement service businesses
involving a federally related mortgage loan
(most loans are).
In addition, RESPA prohibits Fee Splitting
and Receiving Unearned Fees for Services
Not Actually performed.
Violations of Section 8's anti-kickback,
referral fees and unearned fees
provisions of RESPA are subject to criminal
and civil penalties. In a criminal case a
person who violates Section 8 may be fined
up to $10,000 and imprisoned up to one
year. In a private law suit a person who
violates Section 8 may be liable to the
person charged for the settlement service an
amount equal to three times the amount of
the charge paid for the service.
HERE IS THE LINK:
Molony REAL ESTATE 377 CLARK STREET PO BOX 194, Lodi, WI 53555 608-592-7306 & 608-445-8464 Website: MolonyRealEstate.com Email: MolonyRealEstate@Yahoo.com |
Molony Real Estate, LLC
| Molony Real Estate,LLC |
55+ Plus Lifestyles
55 Plus Lifestyles
Elder Options
Options for 55+
Lifestyles and
Retirement Options
Retirement Options
Your Favorite Real Estate Company
in Lodi Wisconsin
in Lodi Wisconsin
MOLONY REAL ESTATE, LLC
377 CLARK STREET
PO BOX 194, Lodi, WI 53555
608-592-7306 & 608-445-8464
Website: MolonyRealEstate.com
Email: MolonyRealEstate@Yahoo.com
| Wheelchair Ramp Available In order to achieve the goal of expanding the availability of housing opportunities for persons with disabilities, Molony Real Estate has acquired the use of a Wheelchair Ramp. Please let us know when setting up your appointment if you will need the use of the Wheelchair Ramp or any other special accommodation. |
Elder Options 55 Plus Lifestyles
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Beware of Reverse Mortgages
- (Parade Magazine - Tuesday,
November 10, 2009)
Read about the scams here:
Is The Reverse Mortgage
Industry Strong Enough
To Overcome Change?
by Dennis Haber 1 April 2010
The reverse mortgage industry started
out as a fulfiller of dreams to the
greatest generation. For its first 17
years of existence, regulators outside
of HUD, showed little interest in the
burgeoning industry. However, it
seemed that once we broke through
the 100,000 unit plateau of yearly
closed loans, everyone started to take
notice.
(Click Here for more Info)
Industry Strong Enough
To Overcome Change?
by Dennis Haber 1 April 2010
The reverse mortgage industry started
out as a fulfiller of dreams to the
greatest generation. For its first 17
years of existence, regulators outside
of HUD, showed little interest in the
burgeoning industry. However, it
seemed that once we broke through
the 100,000 unit plateau of yearly
closed loans, everyone started to take
notice.
(Click Here for more Info)
The IRS Volunteer Income Tax Assistance Program (VITA). To locate the nearest VITA site, call 1-800-906-9887. The Tax Counseling for the Elderly (TCE) For more information on TCE, call 1-800-829-1040. Programs offer free tax help for taxpayers who qualify. |