For most seniors, having the option to remain living in their home as they age is extremely important. According to a survey conducted by AARP on Home and Community Preferences of the 45+ Community, 88% of Americans over the age of 65 reported the desire to remain in their homes for as long as possible.1 Staying at home, often referred to as aging in place, has many positive impacts on the lives...

It is a common misconception that reverse mortgages run a high risk of foreclosure. This is largely due to a lingering bad reputation that reverse mortgages earned prior to the 1987 Housing and Community Development Act, when the government systemized reverse mortgages through the Home Equity Conversion Mortgage (HECM) program. However, today all HECM reverse mortgages are heavily regulated and...

In the past, reverse mortgages were commonly perceived as a loan of last resort used by homeowners who were struggling financially. However, that misconception is quickly dissipating as more and more financial planners and retirement advisors have begun recommending reverse mortgages as part of a comprehensive retirement strategy. As a result, the profile of a typical reverse mortgage borrower is...

Medicare Open Enrollment began October 15th, and continues through December 7th.  According to AARP, you are eligible to enroll for Medicare if you are 65 or older, a US citizen or legal resident, and you or your spouse have worked long enough to be eligible for Social Security.1 If you are already enrolled but not happy with your coverage, you can change your current Medicare plan during open...

Homeowners age 62 and older saw an increase in home equity of 2.4% in the second quarter of 2017 for a combined total of $162 billion.1 According to the proprietary index, developed by NRMLA and RiskSpan in 2000, the driving factor of the increase in equity appears to be home values. The index, which takes into account changes in seniors’ home equity and mortgage debt, has seen a continual upward...