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Inflation and a Reverse Mortgage

With Americans finally beginning to emerge from the grip of a year-long pandemic, they now are turning their attention to the recent uptick in inflation.  The consumer price index has seen an increase of 0.08% from March to April, which is up 4.2% from the same time in 2020.1 While many seniors may have concerns about outliving their retirement savings, rising inflation can increase those worries...

Reverse Mortgage and Health Care Costs

When it comes to planning for retirement, you can expect health care to be one of your major expenditures along with housing and transportation. Unlike in previous generations, you may not have access to employer-sponsored retiree health benefits1. With health care costs utilizing a significant part of your retirement savings, you will want to have a plan in place for when these expenses arise...

Reverse Mortgage Facts: Can I Lose My Home?

Since the start of the pandemic, many seniors have taken advantage of the benefits of a reverse mortgage.  A reverse mortgage loan allows homeowners who are 62 years and older to access part of the equity in their home and convert it into cash. A Home Equity Conversion Mortgage (HECM) loan, also known as a reverse mortgage loan, is insured by the Federal Housing Administration (FHA)1 who...

Downsizing vs a Reverse Mortgage

When it comes to retirement, many retirees envision themselves downsizing into a smaller home as part of their retirement strategy.  A 2018 study revealed that 38% of retirees surveyed had moved while 62% remained in the home they lived in before retiring.1 The decision to stay in your home or to downsize is a personal one: however, there are a few things to consider that can help you with that...

Tips: Reverse Mortgage Process

Are you interested in a reverse mortgage, but not sure what to expect?  A reverse mortgage loan is a big decision and there are a few things you can do to make the process easier.  Below are a few tips which you may find helpful when deciding to proceed with a reverse mortgage. Do Some Research Before beginning the reverse mortgage process, you should do some research to ensure it is the right...