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...

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...

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...

Many working Americans are worried about their financial security during retirement and Covid-19 has worsened their concerns.1 Simultaneously, the pandemic has triggered some to either retire or consider retiring sooner than expected.  With these concerns, retirees will want to ensure, when leaving the workforce, they are positioned to manage their investments, know when to collect social...

While interest rates continue to remain low1, many seniors, especially those on fixed incomes, may be interested in lowering their monthly mortgage payments.  Some have found that refinancing their current mortgage is a valuable option to freeing up more cash. There are a few refinancing options for seniors that may be a benefit: Rate and Term Refinance: A rate and term refinance option can lower...