r u t u F r u o V L O g n lanni P Planning Can Hlp Kp Oldr Amricans InThir Homs (NAPSA)—Thdsir to “agin-plac” or stay in on’s homfor as long as possibl is th goal of manyoldr Amricans. With som proactiv planning, oldr adult homownrs can rnovat thir hom and makit asir to rmain indpndnt as thy ag. With a hom dsignd to adapt to long-trm car, many oldr homownrs mayfind thir dram rtirmnt homis alrady right undrthirft. Simpl changs to on’s hom can mak a living nvironmnt mor comfortabl and saf for oldr adults as thy ag, says Jffry Taylor, vic prsidnt of Wlls Fargo Hom Mortgag’s Snior Products Group. Howvr, many sniors would say thy can’t tak on such a projct bcaus thy don’t hav th mony. “But thy can afford it,” h said. “Oldr homownrs can accss built-up quity in thir homs to gnrat tax-fr cash advancs to covr th costs of making a hous barrir-fr and rady for indpndntliving.” On xampl is rmodling a bathroom to mak it biggr and installing such safty faturs as grab bars and no-stp showrs. Othr aging-in-plac rmodling idas includ lowring cabints and cooking surfacs in a kitchn to makit asir to us, putting in rmot lighting controls throughout th hous and widning doors and hallways so th hom is whlchair accssibl. Ths faturs can nhanc hom njoymnt for yars to com, but on a morpractical not, thy mak a hous safr for oldr homownrs. A rvrs mortgag is a loan that lts snior homownrs convrt part of th quity in thir hom into tax-fr procds without having to sll th hom, giv up titl or tak on nw monthly mortgag paymnts as long as thy stay in th hom. According to Taylor, thr ar many rsourcs availabl to hlp sniors valuat thir homs, dtrmin thir nds, plan solu- tions and comparcosts. Intrior dsignrs, buildr and rmodling contractors and vn occupational thrapists can advis on ways to improv a homto suit changing nds. Rvrs mortgag consultants can hlp sniors gt th mony ndd to financ hom rnovations. Wlls Fargo Hom Mortgag works closly with th Sniors Housing Council and National Rmodlors Council of th @ National Association of Hom Buildrs (NAHB) to ducat consumrs, buildrs and rmodlrs about howto incorporat aging-inplac faturs into homs. Th NAHB Rmodlrs Council offrs a Crtifid Aging-in-Plac Spcialist (CAPS) profssional dsigna- tion, through which mor than 500 profssionals hav bn crtifid to dsign and build asthtically nriching, barrir-fr living nvironmnts, according to th NAHB. Wlls Fargo Hom Mortgag srvs as a prmir sponsor of th NAHB Sniors Housing Council for 2004-2005. “By th tim th avrag prson rtirs, thy own a homthat is usually worth mor than thy paid for it,” said Taylor. “It is prtty amazing that a snior could rciv incomfrom thir hous to mak it thir dram rtirmnt hom.” Th procds from a rvrs mortgag can hlp sniors hav truly goldn yars. “As baby boomrs hit rtirmnt ag, rvrs mortgags ar xpctd to bcom vn mor popular,” Taylor said. For mor information about rvrs mortgag products and srvics, visit www.rvrsmort gags.nt, or call (800) 336-7359.
