NEW FINANCIAL OPTIONS FOR BABYBOOMERS

Greetings MCC members,

I'm sure everyone out their has seen their investment and retirement portfolios crushed during the past 2 years. This is particularly true for baby-boomers who were planning for retirement, and senior citizens already in retirement.

With 401K's depleted and the stock market down, a Home Equity Conversion Mortgage (aka, a Reverse Mortgage) can help solidify a homeowners portfolio until the stock market recovers.

A Reverse Mortgage works by allowing homeowners with substantial equity, or who own their home outright, to access up to $625,500 of cash from their home equity. The money never needs to be paid back, and the homeowner retains ownership of their property. AARP endorses Reverse Mortgages, and reported that 90% of homeowners who had a reverse mortgage reported the process as beneficial.

I mention this to help those of you who know someone who is planning for retirement, who is having financial difficulities, or who needs to supplement their income while the stock market is down. This truly is a great product for those over the age of 62 who need access to cash. Any questions or comments, please feel free to contact me.

James Macon

Mac-Clair Mortgage

www.mac-clair.com

586-447-9781 ext. 31

586-447-9795 fax