Can a Reverse Mortgage Help Deal With Debt During Retirement
Tuesday, October 28, 2014

Can a Reverse Mortgage Help Deal With Debt During Retirement

One of the keys to a happy retirement includes not having retirement debt. However, a number of older homeowners may feel financially unprepared when entering retirement. Seniors typically choose to live off their savings with some help from Social Security but for those who do not have substantial savings, facing retirement can be frightening. Fortunately, […]

Things to Consider When Getting a Reverse Mortgage
Friday, October 17, 2014

Things to Consider When Getting a Reverse Mortgage

A reverse mortgage loan can be a great financial tool for homeowners age 62 and older who have built up significant equity in their home. Borrowers who take a reverse mortgage loan may receive payments in the form of a lump sum, monthly payments or a line of credit, and they can use the funds […]

Tips When Considering a Reverse Mortgage Loan
Monday, September 15, 2014

Tips When Considering a Reverse Mortgage Loan

Reverse mortgage loans allow homeowners age 62+, access the equity in their homes while still retaining the title of the home. Borrowers can use the extra income to pay for health care expenses, home repairs or remodels, travel or just to make ends meet through retirement. Homeowners must have significant equity in their home and […]

Survey: Perception of Retirement Savings
Wednesday, September 10, 2014

Survey: Perception of Retirement Savings

Each month Bankrate1 surveys Americans about how secure they feel about their personal finances compared to the previous year. This year, from August 7th through the 10th, the survey included 1,003 adults living in the United States. The participants were contacted by Princeton Survey Research Associates International to give their opinions on their financial state. […]

Which Home Equity Loan is Right For You?
Thursday, August 21, 2014

Which Home Equity Loan is Right For You?

With the many commercials on television about accessing home equity. Questions are bound to come up about the legitimacy, requirements and cost of the various loan types. This article will address the differences amongst the most common home equity borrowing options. Although each loan type relates to borrowing home equity. There are important differences to […]

New Reverse Mortgage Rules for Couples
Monday, August 11, 2014

New Reverse Mortgage Rules for Couples

Reverse mortgage loans can be excellent financial tools for homeowners over 62 who have significant equity in their homes. The loan does not become due until the borrower passes away or no longer lives in the home full time. The home needs to be maintained and borrowers will continue to pay insurance and taxes for […]

3 Ways Seniors Can Remain in Their Homes Longer
Thursday, July 31, 2014

3 Ways Seniors Can Remain in Their Homes Longer

According to a 2011 AARP study, 90% of adults over age 65 want to stay in their home for as long as possible, but many end up moving to senior living communities.1 However, there are three specific models that may help seniors remain in their homes longer, especially if they have increasing health needs. Implementing […]

Does a Reverse Mortgage Support Health Care Costs?
Monday, July 21, 2014

Does a Reverse Mortgage Support Health Care Costs?

When planning for retirement, it is important to factor in the cost of health care. According to Fidelity Benefits Consulting, a 65-year-old couple retiring this year will need about $220,000 to afford health care costs throughout retirement.1 This amount only covers basic health care expenses for retirees with Medicare coverage and does not include any […]

Can a Reverse Mortgage Extend Retirement Savings?
Tuesday, July 15, 2014

Can a Reverse Mortgage Extend Retirement Savings?

We all know we need to save for retirement. But what if you’re already retired, or retirement is just around the corner, and you don’t have the savings you had expected at this point? In a 2010 poll by Allianz Life Insurance Company of 3,257 people ages 44 to 75, 61 percent said they fear […]

Is A HECM For Purchase Right For You?
Tuesday, July 8, 2014

Is A HECM For Purchase Right For You?

Some seniors want to remain homeowners, but not necessarily stay in their current home. These homeowners may have the ability to use a reverse mortgage loan to use the equity they have in their current home to move to another home while doing away with their monthly mortgage payment1 by using a HECM for Purchase. […]