Generation Mortgage Company has announced the launch of its nu62 website at www.nu62.com, an online destination that helps homeowners understand the ways that their home equity may serve as a source of additional income and financial options during retirement. The site features borrower scenarios using real market economics to illustrate four home equity consumption strategies and showcases Generation’s cutting-edge, patent-pending nu62 technology. The nu62 software allows potential borrowers to input information related to their personal situation, so they can determine which consumption strategy is best for their unique circumstances.
“Many Americans who are retired or are approaching retirement have much of their net worth tied up in home equity, but they don’t realize that strategically utilizing this asset can be an important element of a retirement plan,” said Generation President and CEO Colin Cushman. “We developed www.nu62.com to show homeowners exactly how they can strategically use their home equity. It was incredibly important to us that the site be interactive; visitors enter their own financial information and can visualize for themselves the positive impact strategic utilization of home equity could have on their financial future.”
The nu62 website presents visitors with four borrower scenarios built using real market economics. The scenarios demonstrate how homeowners would have benefitted from unlocking their home equity over 12 years (2000 – 2012), including during the most significant recessionary period since the Great Depression. The examples also show how a conversion mortgage may help borrowers increase portfolio longevity by preventing early distribution of other investments, maintain their current lifestyle or increase financial options throughout retirement.
Site visitors may also enter their own information into the nu62 application to see how they could utilize two specific home equity consumption strategies: the Income Optionality Strategy, which involves making monthly payments into a line-of-credit in order to take advantage of the compounding growth for potential use in later retirement years, and the Supplemental Income Strategy, which involves drawing consistent monthly payments from home equity in lieu of drawing down on a portfolio. The application uses an algorithm comprising real-time financial analytics, giving users access to top-notch forecasts of market economics, and demonstrates how both of these strategies can help homeowners plan for a better retirement.
“We introduced the nu62 tool to our wholesale network earlier this year, and based on the success experienced by our partners, we are taking the next steps to promote the application to potential borrowers,” said Generation Chief Sales Officer Cheryl MacNally. “The home equity conversion mortgage industry is going through a period of significant transition, and we believe that www.nu62.com is the key to connecting Generation and our partners with a new audience of financially savvy borrowers.”