A reverse mortgage can be a convenient way for accessing the equity in your home without having to sell or move. A question that is often asked by homeowners considering this option is how much equity do I need to get a reverse mortgage? Reverse mortgages generally make the most sense for seniors who have been in their homes for a long time or own the home outright.  For homeowners who currently...

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 you get from a reverse mortgage? The gross loan proceeds are calculated using a simple...

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 while deciding if a reverse mortgage is the right fit for you. The fees on a reverse...

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 up the other 60%. Below are five retirement income strategies...

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 out their dream. Seniors today are living longer and healthier lives than the seniors of previous...