Phillip Cannella Media: Phil Cannella Enumerates the Ideal Candidate for a Reverse Mortgage

Phil Cannella – Phillip Cannella Media: Phil Cannella has helped thousands upon thousands of retirees with all manner of concerns about their retirement. After 40 years of working with seniors, it is safe to call Phil Cannella one of the nations leading experts on retirement when it comes to dealing with their finances.

Phil Cannella’s work is focused on seeing to it that a retiree has the means to live out their golden years as they dreamed of within the framework of the assets they have been able to accumulate over the years. The reverse mortgage, Phil Cannella explains, is a tool that is sometimes appropriate for a retiree to take advantage of.

Phil Cannella explains that the ideal candidate is somebody who intends to live in the home for at least another five years, due to closing costs associated with selling it.  And the higher the age above 62, the more equity one will be allowed to tap into.  According to Phil Cannella, the reason is simple:  A reverse mortgage is an agreement made between a mortgage company and you in which you receive a portion of your equity in the home in cash (or a credit line) and in exchange, the mortgage company receives either the sum they paid you plus interest and fees, or the value of the home itself, whichever is less, when you and your spouse pass away or sell the home.


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  • Phil Cannella

    Phil Cannella – Champion of Consumer Advocacy
    With the uncertainty and volatility of the market, Phil Cannella, with First Senior Financial Group, prides himself on ensuring a safe retirement future for senior consumers. With an unparalleled devotion to educating seniors, Phil Cannella works endlessly to know and understand the ever changing tax laws and economic changes that can adversely affect one’s nest egg. Thousands of senior citizens have gone through First Senior Financial Group’s education process and learned how to have up to an 85% tax free retirement income.
    As if that isn’t reason enough to respect Phil Cannella, the truly amazing thing about how he runs First Senior Financial Group is that he never takes a dime from the seniors who come to him to be educated. Everything he teaches and everything he offers comes free of charge. That is the true mark of a consumer advocate, someone who cares enough to help you without asking for anything in return.

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