Zack Childress Tips For Home Equity & Reverse Mortgage"

The most frequently asked question when purchasing a property is about home equity. Home equity is one of the biggest sources for investors in their retirement period. The potential income is transferred to IRA and once the investor reaches his retirement age, the funds can be used to purchase a home or can be used to opt for a rental property.

How to maximize your profit?

·         Sell the existing home and shifting to a micro sized apartment or an apartment that fits your family size. Small homes are easier to maintain.

·         It requires lot of effort to shift to a new location as one would have got used to the living space and coming out of the comfort zone is one of the toughest tasks.

·         Selling a home is as expensive as moving to a new location as it involves several fees.

For couples married, $500,000 in profit is deducted when you sell your home. If you are single $250,000 is deducted from capital gains. Retirees go for a condo or a town home to live their last few years in community lifestyle provided, retirees must adhere to HOA rules.

 Zack Childress real estate reviews throws light on reverse mortgage drawbacks.

Reverse Mortgage

Reverse mortgage which are exclusively offered to 65 plus aged people. It allows the investors to avail loans against home equity.  Being old, you can avail more loans against home equity which is one of the plus points. There is HELOC scheme as well as you can withdraw in lump. Beware of mortgage scam; recently there are many advertisements which are propagating in a wrong manner. Consult a financial adviser or a mortgage lender in prior to know about the suitable financial scheme to avail for purchasing a property.  The amount is usually not subjected to any form of taxation and Medicare benefits are not affected. The scheme is considered to be expensive and lender gets a fractional portion as fees. The lender is having few advantages like; he gets the property after your demise. The property is not transferred to your heirs. The family members should pay off the loan in order to fetch the home. Consult an experienced adviser to know in and out about the scheme. Home Equity Loan is the simplest way to avail mortgage by home owners. They are applied for college education or buying a car apart from home improvements. HELOC can be availed for a period of 30years.  To know more about reverse mortgage and scams, browse REI quick cash system. 

 Zack Childress review discusses about how to upgrade your homes.

Energy efficient homes

Older homes were designed efficiently by keeping the residents cool in the summer months and warm in the winter months. Thick walls, windows and shutters can be used to control sunlight. The investors should focus on return on investment.  To perform energy efficient home upgrade,

·         Conduct an Energy Audit - Municipalities provide energy audits for free or hire a professional. During the audit, an auditor will visit your home and identify the areas where upgrade is required.

1. ·         Upgrade HVAC System
2. ·         Upgrade Water Heater
3. ·         Add Programmable Thermostat

First-time homebuyers can spend your money by investing on home insurance as a part of loan agreement. Learn how to choose an insurer and understand about insurance coverage.

Zack Childress, a real estate professional has been conducting training programs for aspiring and young investors.  Investors can browse through REI success academy to know about  automated wholesaling.