CategoryBlog

Reverse Mortgage Objections

Many senior homeowners have heard about reverse mortgage loans but may have some misconceptions about how it works. All it takes a little bit of research to understand the pros and cons of a reverse mortgage. I Have to Sell My Home This is not true.  With a reverse mortgage, you are taking out a loan, you are not selling your home.  In fact, a reverse mortgage actually allows you to stay in your...

Unexpected Retirement and a Reverse Mortgage

The COVID-19 pandemic has caused much uncertainty over the past eight months and has hit the labor market particularly hard.  With businesses around the country laying off employees or permanently closing, along with increased health risk for senior workers, it has pushed many into an early retirement.  However, financially, many may not be ready to retire. A recent report published by three...

Reverse Mortgage and Home Renovations for Aging in Place

While planning for retirement, many seniors will decide to age in place and want to stay in their homes as long as possible.  By aging in place, it allows seniors to remain in a safe and familiar residence while staying close to family and friends. To age in place comfortably, most seniors will need a few modifications made to their homes. Below are some recommended areas that will increase...

Supplementing Retirement with a Reverse Mortgage

When soon-to-be retirees are planning for retirement or are looking to supplement their current financial situation, an area that is getting a closer look from financial advisors is a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage loan.  While a reverse mortgage isn’t intended to replace one’s retirement plan, when used sensibly, it can be a valuable means of...

Reverse Mortgage: Increased Home Equity for Senior Homeowners

While 2020 continues to be an unforgettable year for many, one positive takeaway is that senior homeowners have seen an increase in their collective home equity.  According to a recent report, seniors added $134 billion to their already impressive housing wealth which is now at $7.70 trillion.1  As the COVID-19 pandemic continues to impact the financial well-being of American seniors many...