Questions To Consider When Getting a Reverse Mortgage
Wednesday, January 11, 2017

Questions To Consider When Getting a Reverse Mortgage

A reverse mortgage is a complicated financial product, so it’s important to ask all your questions upfront to ensure you have a solid understanding of how the loan works and what the expectations are. Below are some questions to keep in mind when considering a reverse mortgage.1 Who am I working with? When shopping for […]

Using a HECM Refinance Vs a HECM for Purchase
Tuesday, January 3, 2017

Using a HECM Refinance Vs a HECM for Purchase

Seniors often face many decisions when it comes to retirement. For example, will they be able to remain in their current home and age in place comfortably, or does it make more sense to downsize and free up their equity. Fortunately, a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, could be […]

How Does a Reverse Mortgage Impact Your Heirs?
Wednesday, December 28, 2016

How Does a Reverse Mortgage Impact Your Heirs?

If you are considering a Home Equity Conversion Mortgage (HECM) loan, you will most likely want to discuss this option with your heirs. A common first reaction among heirs may be skepticism. Often times, heirs are concerned about their potential inheritance being at risk.  However, many heirs are unaware that a HECM loan may not […]

Tackling Rising Costs of Health Care
Thursday, December 22, 2016

Tackling Rising Costs of Health Care

The rising costs of health care these days can quickly eat away at your retirement funds. In fact, according to AARP, the average couple over 65 can expect to spend about $240,000 in medical bills over the course of their retirement. This combined with the fact that about a third of Americans over 65 rely […]

Medicare Costs at a Glance
Saturday, December 17, 2016

Medicare Costs at a Glance

Medicare is an integral part of the American health care system, which has helped millions of seniors over the last fifty years. However, according to a recent article by the National Reverse Mortgage Lenders Association (NRMLA), “…like most government programs, it is full of complex rules and regulations…,” making it difficult for many to understand. […]

Reverse Mortgage Myths versus Realities
Tuesday, December 6, 2016

Reverse Mortgage Myths versus Realities

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a Federal Housing Administration insured loan (FHA). A reverse mortgage enables seniors 62 or older to access a portion of their home’s equity to obtain tax free1 funds without having to make monthly mortgage payments.2 Reverse mortgages are complex products, and there […]

What Does Financial Assessment Mean?
Wednesday, November 16, 2016

What Does Financial Assessment Mean?

Many changes have been made over the last few years to help strengthen and improve the reverse mortgage program. For example, guidelines limit the amount of loan proceeds that are disbursed within the first year of the loan. The most recent changes were implemented last year in an effort to reduce the number of defaults. […]

How Much Will Health Care Cost You In Retirement?
Tuesday, November 1, 2016

How Much Will Health Care Cost You In Retirement?

Estimating how much you’ll need to budget for health care in retirement can be difficult. Since this is often the largest expense for retirees, it’s important to make sure you set aside enough funds. Luckily, new data from Fidelity Investments may be able to help. Each year, Fidelity estimates the price of health care for […]

Strategies for Reducing Expenses in Retirement
Thursday, October 20, 2016

Strategies for Reducing Expenses in Retirement

Are you running short on funds for retirement?  It might be time to think about ways you can reduce your expenses. Below are some strategies that may be able to help:   Having a plan – Your plan should allow for a modest, but comfortable lifestyle.  In addition, it’s critical that your plan is realistic and within your […]

An option to supplement your retirement savings
Tuesday, September 27, 2016

An option to supplement your retirement savings

If you’re like most retirees you probably pictured your retirement years spending your time doing the things you enjoy – more time with family, hobbies, travel, living comfortably in your home, and so on. But can you afford to live your post-paycheck life the way you always hoped? According to research from the National Retirement […]