With home prices up a jaw-dropping 19% in just the last year, downsizing isn’t as affordable, or profitable, as it once was.1 Older adults may find that while their home values have increased, so have the smaller homes they tend to look at when downsizing. Older adults may decide to stay in their current home to age in place comfortably but may need a few modifications made to their homes. There...

Many older adults are looking to proprietary reverse mortgage loans as a tool to incorporate into their overall financial plan during retirement, but many have also experienced its benefits when the stock market is volatile.  With borrowers saving for retirement through investments, savings, and pensions, they may want to consider alternative sources of money until the economy stabilizes. Tapping...

Many older adults have benefited from a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage loan, to help supplement their cash flow during a down market.  By tapping into their home equity, they were able to use the funds immediately to help with daily living expenses, medical bills, or set aside for an emergency.  An important part of having a reverse mortgage loan is...

It’s no secret that Americans are experiencing the highest inflation levels since 19821.  In April, inflation was at 8.26%, which is up 4.16% from the same time a year ago2.  With increased costs for food, gas, and utilities, older adults may be concerned about the impact inflation is having on their retirement savings. Meanwhile, senior housing wealth has hit a new peak of $10.6 trillion3 and...

Once you have decided that you want to proceed with a reverse mortgage, you may wonder, “What do I do next?”  Here are the steps you will need to take to get a reverse mortgage. Finding a lender To begin the reverse mortgage process, you will need to find a lender that is a good fit for you.  It is recommended that you find a direct lender who specializes in reverse mortgages. Consider doing some...