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For more informationand videos, visit us SELLECKACTOR AND AAG PAID SPOKESPERSONYour Guideto a BetterRetirementUnderstanding ReverseMortgage (800) 608-6004

“AAG is solelydedicated to helpingolder Americans usetheir home equity fora better retirement.I know they care andwant to help. I trustthem and I thinkyou can, too.”

Dear homeowner,For all that a home gives us—things like safety, stability, security and a place to create and store ourmemories—one gift we tend to overlook is the future it can also give us.You can begin to unlock that future by using some of your home’s equity, which has likely increasedover time, becoming your most valuable asset.There are, of course, different ways to access your home equity, but if you’re 62 or older, you may wantto consider a reverse mortgage. Not only can you use it to access tax-free cash, but you don’t have torepay your loan until you leave the home.This way, you’ll have the financial freedom and flexibility to design the retirement you want, whetherthat’s paying off bills, fixing up the house, traveling or investing more, or helping out your children.Use this helpful guide to bring greater clarity and certainty to your future, with the open invitation tocall American Advisors Group anytime about whether a reverse mortgage—or another of their homeequity solutions—can help you achieve a better retirement.Regards,TOM SELLECKACTOR AND AAG PAID SPOKESPERSONYour Guide to a Better Retirement3

What Is a Reverse Mortgage Loan?Quick FactsUnlike a traditional home equity loan, such as anFHA or refinance loan that you begin paying backsoon after your loan closes, a reverse mortgagedoesn’t have to be repaid until you leave yourhome*. In addition to having no monthly mortgagepayments, you will receive tax-free proceeds fromyour reverse mortgage, and you can designate howyou want to receive them. Reverse mortgages werespecifically designed to help those 62 and oldersupplement their retirement.More than 1 million homeowners 62 and over have useda HECM reverse mortgage to age in place.The most widely available reverse mortgage loanis a Home Equity Conversion Mortgage (HECM),insured by the Federal Housing Administration(FHA). For higher-value homes that exceed the limitset by the FHA, borrowers may be better suitedwith a non-HECM loan, also known as a jumbo orproprietary reverse mortgage.* You must continue to maintain your property, pay property taxes and homeownersinsurance, and otherwise comply with all loan terms.(U.S. Dept. of Housing and Urban Development,HECM Endorsement Summary Report, 2017)Since obtaining a reverse mortgage, 8 out of 10AAG customers said their lives have improved.(Based on AAG customer surveys betweenJune 1, 2013 and October 30, 2018)Home equity levels for homeowners aged 62 and oldergrew to 7.1 trillion in the fourth quarter of 2018.(NRMLA/RiskSpan Reverse Mortgage Market Index (RMMI) Q1 2000 - Q4 2018)9797% of American Advisors Group customersare pleased with our (800) 608-6004%Based on American Advisors Group customer surveysbetween June 1, 2013, and January 31, 2019

Your Guide to a Better Retirement5

How Do You Qualify?To be eligible for a reverse mortgage, you must:Be 62 years or older (a non-borrowing spouse may beunder age 62)Own and live in your home as your primary residence.Undergo a financial assessment to ensurea reverse mortgage can serve you as asustainable, long-term retirement solutionReceive counseling by an independent,HUD-approved third-party to confirm youunderstand your obligations andresponsibilities with a reverse mortgageMaintain the property and continuepaying property taxes, homeownersinsurance, homeowner association andany other applicable (800) 608-6004Does YourProperty Qualify?For HECMsSingle-family homes or2-4 unit homes (You mustoccupy one of the units)HUD-approvedcondominiums*Manufactured homes thatmeet FHA requirements* AAG Advantage loans do notrequire FHA approvalTo learn more, call:(800) 608-6004

How Much MoneyCould You Qualify For?1. Your Age:The age of theyoungest borrower oreligible non-borrowingspouse—the older youare, the more fundsmay be availableThe size of your loan amount is basedon three primary factors.2. Your Home’s Value:The higher your home appraisesat, and the more equity you havein your home, may make morefunds available3. Current Interest Rate:Fixed and adjustable rate optionsare available—the lower theinterest rate, the more fundsmay be availableYour Guide to a Better Retirement7

How CanYou AccessYour Funds?LUMP SUMPAYOUT:Maximize yourcash payoutTERM:Receivemonthlypayouts fora fixed termChoose the payout planthat works best for you:TENURE:Receivemonthlypayouts forlife*GROWINGLINE OF CREDIT:Use as needed, interestcharged only on theportion you access* Available with Tenure-Based or Modified Tenure plans, so long as Borrower does not default on the loan. Borrower mustmaintain home as principal residence, pay all taxes, insurance, maintain the home, and comply with all other loan terms.With Modified Tenure plans, lender will set aside a specific amount of money for a line of (800) 608-6004MODIFIED PLANS:Combine options foreven greater control;an AAG reversemortgage professionalcan show you how

“The entire processwas very smooth andconcise. It was just theboost in cash flow weneeded to live a goodlife without dippinginto our stocks andbonds. This was theperfect solution for us.”BRUCE AND LINDA C.Your Guide to a Better Retirement9

Your Reverse Mortgage ResponsibilitiesAlthough a reverse mortgage can eliminate monthly mortgage payments (principal and interest), you mustcontinue to maintain your property, pay all property taxes, homeowners insurance and comply with yourloan terms, as you would with any mortgage. To ensure that you can meet these ongoing financial responsibilitiesyou can establish a set-aside account that can be financed into your reverse mortgage to limit your initial,out-of-pocket expenses.If you don’t comply with your loan terms, however, your home could go into default, which could lead to foreclosure.It’s also important to note that while you cansell your home and pay off your loan balanceany time without a prepayment penalty, reversemortgages make more sense financially the longeryou plan to stay in your home, as you’re spreadingyour initial loan costs out over a longer period.Receiving funds from a reverse mortgage will notaffect your Social Security or Medicare. A reversemortgage, however, could impact Medicaid orSupplemental Security Income (SSI), so pleasespeak with your accountant or tax advisorfor more (800) 608-6004

Learn more or speakwith one of ourreverse mortgageprofessionals today.(800) 608-6004We are:CARINGDRIVENETHICALYour Guide to a Better Retirement11

Advantages& StrategiesHomeowners are using theadvantages of a reversemortgage in multiple waysto achieve a better (800) 608-6004

Reverse Mortgage AdvantagesWith a reverse mortgage, you not only remain the owner of the home, but you can live in your home for as longas you want, with no monthly mortgage payments*The home equity you access is tax free (Consult your tax advisor)Use your proceeds almost any way you wish (See Strategies) HECMs are federally insured, meaning if yourlender defaults, you still receive your payments Because reverse mortgages are non-recourse loans,neither you nor your heirs will ever owe morethan your home is worth* In addition to maintaining your property, you must continue to pay property taxes,homeowners insurance, HOA fees, and otherwise comply with all loan terms.Your Guide to a Better Retirement13

10 Reverse Mortgage StrategiesThe ways people are responsibly using theirreverse mortgages for a better retirement arevirtually unlimited.1Pay off my existing mortgageto increase cash flow.Paying off your current mortgage is a reversemortgage requirement. By removing yourmonthly mortgage payments, your cashflow increases*.2Renovate my home to make it saferand more enjoyable.The right home improvements can also helpmaintain or even increase the value of your home.34We’re here to help. Call us today:(800) (800) 608-6004Give my retirement savings accountsmore time to grow.By tapping home equity and leaving your investmentaccounts intact, your assets can continue to growthrough the magic of compounding interest.Delay taking my Social Securityfor larger payouts later.Social Security benefits increase by a certainpercentage each year if you delay your retirementbeyond full retirement age. That’s an effectivesavings plan.

5Build a stronger safety net.The best defense against unexpectedexpenses, such as medical emergencies,sudden market downturns and other lifeevents, is to ensure you have financialresources standing by to deal with them.6Gain greater peace of mind for mylong-term healthcare needs.By creating a reverse mortgage line ofcredit, which grows over time, you can havemoney for your care when you need it.7Purchase another homethat will better fit my needs.Instead of using all cash, put down onlya portion of the purchase price (fromyour previous home’s sale or from othersavings and assets) and use a HECM tocover the rest, leaving you with no futuremonthly mortgage payments*.*You must continue to maintain your property, payproperty taxes and homeowners insurance, andotherwise comply with all loan terms.8910Protect my portfolio in a down market.Instead of being forced to sell an investment ina down market, you could wait for the market torebound by using proceeds provided by a reversemortgage to make up any shortfall.Create a lifetime income streamfor my family and me.A reverse mortgage gives you multiple paymentoptions, including monthly disbursements for lifeas long as you live in your home**.Pay off other debt, like high-interest credit cards.Using a reverse mortgage to pay off credit cardsor other high-interest debt may prove a soundfinancial strategy. What a reverse mortgage shouldn’tbe used for, is an excuse to overspend or avoidaddressing what caused the debt in the first place.**Available with Tenure-Based or Modified Tenure plans, solong as Borrower does not default on the loan. Borrower mustmaintain home as principal residence, pay all taxes, insurance,maintain the home, and comply with all other loan terms. WithModified Tenure plans, lender will set aside a specific amount ofmoney for a line of credit.Your Guide to a Better Retirement15

A HECM Line of Credit Can Be a Better Retirement SolutionThan a HELOC (compare the two charts)Home Equity Line of Credit (HELOC)16PaymentsA HELOC requires you to pay a monthly interest payment, at a minimum, often for 10 years, thenamortize the principal over the remaining 20, which can substantially increase your payment.Line of Credit GrowthDoes not grow under normal circumstances. You must request increase and often require fullcredit application, appraisal, income verification, and associated fees.AccessibilityLine of credit can be decreased or closed without warning.Due DateTypically due at the end of 10, 20, or 30 years.Pre-Payment PenaltyMay have a penalty.Government-InsuredNot insured by the Federal Housing Administration.Annual FeeA HELOC often requires an annual fee to keep the loan (800) 608-6004

Most homeowners are aware of the benefits and downsides of a home equity line of credit (HELOC). Though onlyavailable to those over the age of 62, a HECM Line of Credit can offer greater advantages. Compare the two charts.HECM Line of CreditNo PaymentsNo monthly mortgage payments are required (Borrowers must continue to pay propertytaxes, homeowners insurance, and maintain the property.)Line of Credit GrowthUnused line of credit grows at the same rate the borrower is paying on the used credit,thus the LOC amount increases.AccessibilityLine of credit remains open as long as the borrower lives in the home and complies with all loan terms.Due DateTypically due when the last borrower or eligible non-borrowing spouse leaves the homeor does not comply with the loan term.No Pre-Payment PenaltyNo pre-payment penalties.Government-InsuredInsured by the Federal Housing Administration.No Annual FeeThere are no fees to keep the HECM line of credit open.Your Guide to a Better Retirement17

Stronger Safeguardsand ProtectionsReverse mortgage loans come with many safeguards foryour financial protection.Limited FeesHECM origination fees are regulated by the U.S.Department of Housing and Urban Development (HUD).HECM loan costs may vary among creditors and loan types.First-Year Withdrawal CapHUD established limits on the amount of money youcan access your first year to help you better balance yourshort- and longer-term financial needs.Credit Line GrowthThe unused portion of your credit line continues togrow—giving you an incentive to responsibly accessonly the credit you (800) 608-6004

Financial AssessmentFHA Mortgage Insurance:Before you can formally apply for a reverse mortgage, you willundergo a financial assessment to determine whether a reversemortgage or another financial option can best serve you.What You Need to KnowCounseling1.S hould you opt for a tenureplan, and you exceed your lifeexpectancy, insurance coversthe difference so you continueto be paid.2. Should the lender default, you willcontinue to be paid, regardless.3. Should the balance of the loanbe larger than the value of thehome when payment is due,the insurance fund coversthe difference.You will receive counseling by an independent, HUD-approvedthird-party to help you explore and address whether a reversemortgage or another alternative may offer you the best financialsolution for your needs and goals.No Pre-Payment PenaltyYou can choose to repay your reversemortgage anytime without penalty.Non-Recourse LoanWhen repayment is due, neither younor your heirs will ever owe morethan your home is worth.Your Guide to a Better Retirement19

The Truth About Some PopularReverse Mortgage MythsAlthough simple in concept—converting a portionof your home equity into cash while you continue toenjoy the comforts of living in your own home*—certain myths and misinformation have sprung uparound reverse mortgage loans. Here we address ahandful of these common mistruths:*You mustcontinue tomaintain yourproperty,pay propertytaxes andhomeownersinsurance,and otherwisecomply with allloan terms.The bank owns my home.No. When taking out a reverse mortgage loan, youretain title to the property. The lender puts a lien ontothe title to ensure repayment of the loan. This is thesame for a reverse or a traditional mortgage.I cannot get a reverse mortgage loan if I havean existing mortgage.No. You just need sufficient home equity for the loanto make sense.I won’t qualify because I don’t haveenough income.No. You don’t have to earn a certain amount ofmoney. Rather, you need to show you have thefinancial ability to pay your ongoing property taxes,home insurance and other property-related expenses.The lender receives whatever moneyremains after the home is sold to pay offthe reverse mortgage.No. Any leftover funds go to the heirs or the (800) 608-6004

I will lose my house if I exhaustmy loan funds.No. You cannot lose your home as longas you continue to comply with your loanterms, such as maintaining your homeand paying your property taxes andhomeowners insurance.I will be restricted on how I can usemy reverse mortgage proceeds.No. You can use the proceeds for almostany purpose.I will be taxed on my loan amount.No. Because a reverse mortgage is a loan,your proceeds are not taxed. Consultyour tax advisor for more information,however, as tax laws can change.Pick up the phone and call AAG today.(800) 608-6004The Reverse Mortgage ProcessCall AAGAn AAG licensed reverse mortgage professional will helpyou assess whether a reverse mortgage or another homeequity solution can help you achieve a better retirement.Counseling and ApplicationA HUD-approved counselor is specially trained andcertified to help you understand how a reversemortgage works and further evaluate whether the loanis a good fit for your situation.Processing and ApprovalAAG’s powerful and proprietary system, LendForce , willhelp propel your reverse mortgage loan to the finish line.ClosingAfter all underwriting conditions have been met, a closingagent will contact you to sign the final documents anddiscuss any funding questions you might have.Your Guide to a Better Retirement21

Why AAGWhen we started AAG, we saw home equity as the missing financial piece forthe millions of Americans who wanted to retire better.From that early inspiration, AAG has become one of the nation’s leading homeequity solutions providers and the No. 1 reverse mortgage lender in the nation.A Better Business BureauTorch Awards for Ethics finalistOver that time, we have helped thousands of people gain the financialfreedom to live retirement on their terms. For some, that has meant achievingthe peace of mind that comeswith paying off a large bill, makinga long-overdue home repair orbuilding a bigger rainy-day fund,CARINGDRIVENETHICALA U.S. Department of Housingand Urban Developmentapproved lenderand for others, that has simplymeant getting out more, visiting friends and family, traveling, dining, takinglonger, unhurried walks and pursuing the many joys that a good retirementcan afford.Whichever path you expect to follow for your better retirement, we lookforward to helping you every step of the (800) 608-6004A proud and active member ofthe National Reverse MortgageLenders Association

The PromiseAt AAG, we believe education is empowering and your best course fordetermining whether a reverse mortgage loan, or another home equity solution,can help you achieve the retirement you’ve envisioned. In particular, we’veaddressed how reverse mortgages work and how they have been strengthenedwith additional borrower protections. While reverse mortgage loans offermany advantages, they also come with important borrower obligations andresponsibilities. We’ve worked hard to highlight them all so you can make themost informed financial decision for you and your family.Although we have seen reverse mortgages improve retirements for thousandsof older adults, we realize they are not for everyone. They work best whenthey are used strategically and responsibly as part of a comprehensive andsustainable retirement plan. That’s why, in addition to being the nation’s No.1 reverse mortgage lender, we offer a sweeping array of other home equitysolutions, including FHA, conventional, VA and jumbo options. And if sellingyour home is your best path forward for achieving a better retirement, we canhelp with that, too!For more informationand videos, visit us call us directand see how youcan retire better.(800) 608-6004Working together, we believe we can help find the right solutionfor your retirement!Your Guide to a Better Retirement23

NMLS# 9392 ( American Advisors Group (AAG) is headquartered at 3800 W. ChapmanAve., 3rd & 7th Floors, Orange CA, 92868. AAG conducts business in the following states: AK (Alaska Mortgage Broker/Lender License No. AK9392), AL, AR, AZ (BK 0911141), CA (CA Loans made or arranged pursuant to a California FinanceLenders Law license (603F324) and Licensed by the Department of Business Oversight under the California ResidentialMortgage Lending Act (4131144)), CO (Regulated by the Division of Real Estate; to check the license status of yourmortgage loan originator, visit , CT, DCCall AAGtoday!(District of Columbia Mortgage Dual Authority License No. MLB9392), DE, FL, GA (residential Mortgage Licensee#22849), HI, IA, ID, IL (Illinois Residential Mortgage Licensee; Illinois Commissioner of Banks can be reached at 100 WestRandolph, 9th Floor, Chicago, Illinois 60601, (312)814-4500), IN, KS (Kansas Licensed Mortgage Company MC. 0025024),KY, LA, MD, ME (SLM11356), MI, MN, MO (4824 NW Gateway Ave, Suite 201, Riverside, MO 64168), MS (Licensed by theMississippi Department of Banking and Consumer Finance), MT, NC, ND, NE, NH (Licensed by the New Hampshirebanking department), NJ (Licensed by the N.J. Department of Banking and Insurance), NM, NV, NY (Licensed MortgageBanker-NYS Department of Financial Services; American Advisors Group operates as American Advisors Group, Inc. inNew York.), OH (MBMB.850159.000), OK, OR (ML-4623), PA (Licensed by the Pennsylvania Department of Banking 28356),RI (Rhode Island Licensed Lender), SD, SC, TN, TX (Mortgage Banker Registration, 13785 Research Blvd, Ste. 125, Austin,TX 78750), UT, VA (Licensed by the Virginia State Corporation Commission MC – 5134), VT (Vermont Lender LicenseNo. 6384), WA (Consumer Loan # CL-9392),WV, WI, WY (WY-DBA AAG Reverse Mortgage Lender/Broker License No.2331). AAG is an equal housing lender. These materials are not from HUD or FHA and were not approved by HUD or agovernment agency.A reverse mortgage increases the principal mortgage loan amount and decreases home equity (it is a negativeamortization loan). AAG works with other lenders and financial institutions that offer reverse mortgages. To processyour request for a reverse mortgage, AAG may forward your contact information to such lenders for your considerationof reverse mortgage programs that they offer.Reverse mortgage loan terms include occupying the home as your primary residence, maintaining the home,paying property taxes and homeowners insurance. Although these costs may be substantial, AAG does notestablish an escrow account for these payments. However, a set-aside account can be set up for taxes andinsurance, and in some cases may be required. Not all interest on a reverse mortgage is tax-deductible and tothe extent that it is, such deduction is not available until the loan is partially or fully repaid.AAG charges an origination fee, mortgage insurance premium (where required by HUD), closing costs andservicing fees, rolled into the balance of the loan. AAG charges interest on the balance, which grows over time.When the last borrower or eligible non-borrowing spouse dies, sells the home, permanently moves out, or failsto comply with the loan terms, the loan becomes due and payable (and the property may become subject toforeclosure). When this happens, some or all of the equity in the property no longer belongs to the borrowers,who may need to sell the home or otherwise repay the loan balance. (800) 608-6004(800)

10 Reverse Mortgage Strategies The ways people are responsibly using their reverse mortgages for a better retirement are virtually unlimited. Pay off my existing mortgage to increase cash flow. Paying off your current mortgage is a reverse mortgage requirement. By removing your monthly mortgage payments, your cash flow increases*.

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