Why Baby Boomers are the First Generation to Widely Utilize Reverse Mortgages in Retirement
December 6, 2017

Why Baby Boomers are the First Generation to Widely Utilize Reverse Mortgages in Retirement

Retirement is often thought of as “the golden years,” the time of life where the stresses and worries of the working world are in the past. The term may bring to mind images of sunset evenings on the porch, sipping a cool drink, and watching the world go by. Unfortunately, for many baby boomers, the […]

Use a Reverse Mortgage for Age in Place Remodeling
November 29, 2017

Use a Reverse Mortgage for Age in Place Remodeling

One question that many seniors face as they enter retirement is how they would like to address the possible need for long term care as they age. Although long-term care facilities are a necessity for some, many seniors will have the option to remain in their home and age in place. Staying at home allows […]

5 Benefits of Aging in Place
November 22, 2017

5 Benefits of Aging in Place

For most seniors, having the option to remain living in their home as they age is extremely important. According to a survey conducted by AARP on Home and Community Preferences of the 45+ Community, 88% of Americans over the age of 65 reported the desire to remain in their homes for as long as possible.1 […]

Foreclosure is More Likely with a Conventional Mortgage Than a Reverse Mortgage
November 15, 2017

Foreclosure is More Likely with a Conventional Mortgage Than a Reverse Mortgage

It is a common misconception that reverse mortgages run a high risk of foreclosure. This is largely due to a lingering bad reputation that reverse mortgages earned prior to the 1987 Housing and Community Development Act, when the government systemized reverse mortgages through the Home Equity Conversion Mortgage (HECM) program. However, today all HECM reverse […]

Reverse Mortgages – Rethinking the Typical Borrower
November 8, 2017

Reverse Mortgages – Rethinking the Typical Borrower

In the past, reverse mortgages were commonly perceived as a loan of last resort used by homeowners who were struggling financially. However, that misconception is quickly dissipating as more and more financial planners and retirement advisors have begun recommending reverse mortgages as part of a comprehensive retirement strategy. As a result, the profile of a […]

Medicare Open Enrollment Sparks Financial Concerns
November 1, 2017

Medicare Open Enrollment Sparks Financial Concerns

Medicare Open Enrollment began October 15th, and continues through December 7th.  According to AARP, you are eligible to enroll for Medicare if you are 65 or older, a US citizen or legal resident, and you or your spouse have worked long enough to be eligible for Social Security.1 If you are already enrolled but not happy […]

Home Equity for Senior Homeowners Grows by $162 Billion in Q2
October 18, 2017

Home Equity for Senior Homeowners Grows by $162 Billion in Q2

Homeowners age 62 and older saw an increase in home equity of 2.4% in the second quarter of 2017 for a combined total of $162 billion.1 According to the proprietary index, developed by NRMLA and RiskSpan in 2000, the driving factor of the increase in equity appears to be home values. The index, which takes […]

Is a Reverse Mortgage Government Funded?
October 10, 2017

Is a Reverse Mortgage Government Funded?

As many senior homeowners are aware, The Department of Housing and Urban Development (HUD), recently announced changes which will affect the Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. These announcements may have caused some confusion with seniors wondering, is a reverse mortgage government funded? Reverse Mortgages are Federally Insured The short […]

Choosing the Right Reverse Mortgage
September 26, 2017

Choosing the Right Reverse Mortgage

One of the most challenging aspects of getting a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is identifying which product configuration and interest rate type best meets your needs. What many borrowers may not realize is that there are over a dozen different ways to configure a reverse mortgage. Depending on […]

Advantages and Disadvantages of a Reverse Mortgage
September 19, 2017

Advantages and Disadvantages of a Reverse Mortgage

A reverse mortgage, can be a valuable retirement planning tool. This type of mortgage allows homeowners 62+ years old to convert a portion of their home equity into usable funds without having to repay the loan for as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider […]