Are you considering a reverse mortgage, but don’t know where to start? The National Reverse Mortgage Lenders Association (NRMLA) recently published a very helpful guide that answers some of your biggest questions. For example, the guide provides detailed answers to:  “Will your spouse be on the loan” and “How will the loan be repaid”.1 NRMLA is a national agency that advocates commitment to the...

“America is a nation of homeowners.” Most people would agree that owning a home provides both financial and personal benefits. Home ownership gives you a place to call your own while earning equity at the same time. If you’re on the fence about your next move, below are six reasons you may want to consider owning rather than renting.1 Cheaper Than Renting A recent article from MSN Money News...

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a Federal Housing Administration (FHA) insured loan.  A reverse mortgage enables seniors to access a portion of their home’s equity to obtain tax free1 funds without having to make monthly mortgage payments.2 You can receive your loan proceeds as a lump sum, monthly payments, line of credit, or a combination...

If you’re nearing retirement, you may be starting to think about ways to conserve your income and ensure your next egg lasts. Below are four strategies recommended by retirement expert, Steve Vernon. Over the last forty years, Vernon has worked as a consulting actuary assisting employers and workers with retirement issues. He has written five books on retirement planning. He has been a columnist...

A reverse mortgage is a complicated financial product, so it’s important to ask all your questions upfront to ensure you have a solid understanding of how the loan works and what the expectations are. Below are some questions to keep in mind when considering a reverse mortgage.1 Who am I working with? When shopping for a reverse mortgage it’s recommended that you work with a lender who...