Who are Reverse Mortgages For?
February 16, 2018

Who are Reverse Mortgages For?

It is well known that reverse mortgages do not fit everyone’s financial situation. Who are reverse mortgages for? They can be an invaluable tool for individuals who are looking to supplement their income as they age. The three circumstances below are times when seniors should strongly consider getting a reverse mortgage. You are going to outlive […]

3 Reverse Mortgage Pitfalls and How to Avoid Them
February 7, 2018

3 Reverse Mortgage Pitfalls and How to Avoid Them

Reverse mortgages offer senior homeowners financial security by allowing them to access a portion of their home equity. With a reverse mortgage seniors may be able to eliminate their monthly mortgage payments,1 pay off other debts,2 and gain extra cash. However, despite the many benefits a reverse mortgage offers there are pitfalls that can occur […]

Half of US Households Won’t Have Enough Income to Retire
January 31, 2018

Half of US Households Won’t Have Enough Income to Retire

If you are worried about outliving your retirement savings, you are not alone. The results of an ongoing analysis of American households by the Boston College Center for Retirement research report that half of US families will struggle financially in retirement.1 The National Retirement Risk Index is a tool that measures the percentage of working-age-households […]

Senior Home Equity Continues to Rise
January 24, 2018

Senior Home Equity Continues to Rise

Home equity for homeowners over the age of 62 in the United States is continuing to rise. In Q3 of 2017 it increased by $121 billion, bringing senior housing wealth to a total of $6.5 trillion.1 Rising home equity comes as welcome news at a time when many seniors are faced with managing their own […]

How to Use a Reverse Mortgage to Fund a Social Security Delay
January 18, 2018

How to Use a Reverse Mortgage to Fund a Social Security Delay

Many seniors enroll for social security benefits as soon as they are eligible to do so, at age 62, in order to help supplement their retirement income. While claiming social security benefits right away does help cover immediate costs, there are significant benefits in waiting to enroll. In fact, waiting to claim social security benefits […]

3 Reasons to Refinance Your Conventional Mortgage with a Reverse Mortgage
January 10, 2018

3 Reasons to Refinance Your Conventional Mortgage with a Reverse Mortgage

If you are a homeowner 62 years of age or older you may want to refinance your conventional mortgage with a reverse mortgage. A reverse mortgage allows you to access a portion of your home equity as cash, while remaining in your home and maintaining ownership.1 Reverse mortgages, unlike conventional mortgages, do not require monthly […]

How Much Can I Get From A HECM Loan?
January 3, 2018

How Much Can I Get From A HECM Loan?

Many senior homeowners who are looking for a way to supplement their income are turning to Home Equity Conversion Mortgages (HECMs) as a way to convert their home equity into cash. A HECM, also called a reverse mortgage, allows seniors to access a portion of their home equity while remaining in their home and maintaining […]

Prevent or Alleviate Financial Stress with a Reverse Mortgage
December 27, 2017

Prevent or Alleviate Financial Stress with a Reverse Mortgage

Financial security and peace of mind is vital to retiring seniors’ well-being. In fact, research found that financial stress has a direct impact on the health of seniors.1 Unfortunately, many seniors experience financial stress despite the negative effect it has on them. A survey conducted by the Federal Reserve reported that 31% of adults in […]

How to Use a Reverse Mortgage when you have an Existing Mortgage
December 20, 2017

How to Use a Reverse Mortgage when you have an Existing Mortgage

Retired seniors with mortgage debt face a difficult situation. Monthly mortgage payments contribute to high monthly living costs which can put limitations on the lifestyles of seniors who are living on a fixed income. A reverse mortgage is one of the very few financial tools that allows senior homeowners to access a portion of their […]

7 Reverse Mortgage Misconceptions Debunked
December 13, 2017

7 Reverse Mortgage Misconceptions Debunked

You may have seen Reverse Mortgages, also called Home Equity Conversion Mortgages (HECM), in the news lately. These types of mortgage loans have become a topic of discussion for many seniors as they plan for retirement. With new safeguards in place, these Federal Housing Administration1 (FHA) insured loans are now recommended by many financial advisors […]