How Much Money Can You Get From a Reverse Mortgage?
July 11, 2018

How Much Money Can You Get From a Reverse Mortgage?

A reverse mortgage allows qualified homeowners to turn a portion of their home equity into cash while continuing to live in their home.1 The loan does not require monthly mortgage payments for as long as the loan obligations are met1 and the  loan proceeds  can be used any way you choose. How much money can […]

What Are The Downsides of a Reverse Mortgage?
July 3, 2018

What Are The Downsides of a Reverse Mortgage?

While a reverse mortgage can be an invaluable tool for some senior homeowners, there are situations where it may not be the best option. Understanding the potential downsides of a reverse mortgage can help you determine if it is an option you wish to pursue further. Below is a list things that you should consider […]

5 Ways to Supplement Your Social Security Income
June 28, 2018

5 Ways to Supplement Your Social Security Income

Social security is not meant to solely support retired seniors. In fact, according to CNN Money, social security will only replace 40% of the average retiree’s income.1 This leaves two options for retirees, they can either adjust their standard of living to survive off of social security alone or find additional income sources to make […]

Why Seniors Choose the HECM for Purchase
June 20, 2018

Why Seniors Choose the HECM for Purchase

A Home Equity Conversion Mortgage (HECM) for Purchase loan can be a fantastic tool for seniors who are looking to downsize or move closer to family. Whether seniors are looking to move to the city, get out to the country, or just find their dream home, a HECM for Purchase may allow them to live […]

How to Save Enough for Retirement With The Help Of A Reverse Mortgage
June 15, 2018

How to Save Enough for Retirement With The Help Of A Reverse Mortgage

Many seniors are worried they will not be able to save enough for retirement. Starting to save later in life can be overwhelming and often feel like an uphill battle. The five strategies below can help you make a plan to maximize your money in retirement. 1. Understand your Social Security Benefits Don’t expect social […]

Reverse Mortgage Resources
June 6, 2018

Reverse Mortgage Resources

If you are apprehensive about your financial situation in retirement, you are not alone. Financial stability is a concern for many seniors. Social security benefits, savings, and retirement income may not provide enough money to cover living expenses as you age. However, the equity in your home may be able to help. A reverse mortgage […]

A Reverse Mortgage vs. A Home Equity Loan
May 30, 2018

A Reverse Mortgage vs. A Home Equity Loan

Two popular options that allow you to tap into your home equity without the need to sell your home are a reverse mortgage loan and a home equity loan. Understanding both of these options can help you decide which is better for you. Reverse Mortgage A reverse mortgage loan allows you to access a portion […]

4 Ways A Reverse Mortgage Can Make Life Better
May 23, 2018

4 Ways A Reverse Mortgage Can Make Life Better

Some people think that a reverse mortgage was designed to help senior homeowners who are “house rich and cash poor.” A reverse mortgage is really designed to improve the financial security of senior homeowners. These are four ways a reverse mortgage can help make your life better: 1. Retire Early Think of how great life could […]

Age in Place With a Reverse Mortgage
May 16, 2018

Age in Place With a Reverse Mortgage

Most homeowners plan on staying in their current homes when they retire. According to a new Bankrate survey, 62 percent of homeowners never plan to move.1 Staying at home allows seniors to remain in a comfortable and familiar place while being close to family and friends. If you are planning to age in place, your […]

How Do I Pay Back a Reverse Mortgage?
May 9, 2018

How Do I Pay Back a Reverse Mortgage?

A reverse mortgage allows homeowners 62 and older to convert a portion of their home equity into usable funds without having to repay the loan for as long as the loan obligations are met.1 The fact that reverse mortgages do not require monthly mortgage payments2 often leaves potential borrowers with questions about when the loan […]