Deciding If a Reverse Mortgage is Right for You
Thursday, June 15, 2017

Deciding If a Reverse Mortgage is Right for You

Reverse mortgages can be confusing, so it’s important to be informed and separate fact from fiction. Invite your family to be part of the process as well, so that everyone is on the same page. “Many senior homeowners who could truly benefit from a reverse mortgage have been discouraged from even looking into one by […]

What is the Role of Children in the Reverse Mortgage Process?
Wednesday, June 7, 2017

What is the Role of Children in the Reverse Mortgage Process?

Including your children in the decision to get a reverse mortgage is a key part of the process. Laurie Goodman, co-director of the Housing Finance Policy Center at DC’s Urban Institute, emphasized the importance of what she describes as intergenerational communication and collaboration. While it’s nice to leave something to your children, Goodman suspects that […]

Can You Stop a Reverse Mortgage?
Tuesday, May 23, 2017

Can You Stop a Reverse Mortgage?

Entering into a reverse mortgage is a big decision. It’s important to do your research and seek the advice of a financial advisor. One question that tends to be top of mind when entering into a reverse mortgage is whether the reverse mortgage can be stopped once papers are signed. Can you stop a reverse […]

How Do You Pay Back a Reverse Mortgage?
Tuesday, May 16, 2017

How Do You Pay Back a Reverse Mortgage?

The answer to this question depends on your specific situation. The Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is federally regulated and insured by the Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA). HECMs make up the vast majority of reverse mortgages originated in the United […]

What is a Reverse Mortgage Purchase?
Thursday, May 4, 2017

What is a Reverse Mortgage Purchase?

You may be familiar with a traditional reverse mortgage; however, did you know that a reverse mortgage can also be used to buy a home? It’s called a Home Equity Conversion Mortgage (HECM) for purchase, and is sometimes referred to as a reverse mortgage purchase loan. A HECM for purchase allows seniors age 62 and […]

How Boomers Are Managing the Cost of Retirement
Thursday, April 27, 2017

How Boomers Are Managing the Cost of Retirement

Most boomers are taking steps to manage their spending and secure their nest egg. However, according to a recent study from the Bankers Life Center for a Secure Retirement, this may not be enough. In the years that followed the Great Recession, millions of middle-income Americans suffered severe financial setbacks. The Bankers Life study reported […]

Surprising Facts About Social Security
Wednesday, April 19, 2017

Surprising Facts About Social Security

For many Americans, social security benefits are a vital part of their retirement income plan. Therefore, it’s important to understand the rules and stay informed of any changes. Below are a few lesser-known facts about social security that may surprise you.1 Did you know that unmarried children under the age of 18 can receive benefits? […]

Consider Refinancing While Rates Are Still Low
Tuesday, April 11, 2017

Consider Refinancing While Rates Are Still Low

Mortgage interest rates are likely on the rise, so if you’re thinking about refinancing or buying a home, now may be a good time. Below are some helpful tips to keep in mind as you shop for a mortgage:1 Paying Attention to Interest Rates Even a small movement in mortgage rates can have a significant […]

What Is Home Equity And How Can It Be Used?
Tuesday, April 4, 2017

What Is Home Equity And How Can It Be Used?

For many Americans, the equity they have in their home is their largest asset. Often times, their home equity makes up more than half of their net worth. However, despite the large amount home equity held by homeowners 62 and older; many don’t fully understand how it’s measured or how to incorporate it into a […]

Maintenance Tips for Spring
Wednesday, March 29, 2017

Maintenance Tips for Spring

Is your home ready for spring? This is the perfect time to give your home a good “once-over”. Taking care of minor repairs and clean-up from the winter months will help prepare your home for the long summer ahead. Regular home maintenance can make a big difference to the appearance of your home, and help […]