If you are interested in tapping into your home equity, but you’re not sure how to go about it, a reverse mortgage may be the answer. As with most important decisions, there are pros and cons to consider when deciding whether a reverse mortgage loan is right for you. A reverse mortgage loan, also known as a Home Equity Conversion Mortgage (HECM), is Federal Housing Administration (FHA) insured...

When planning for retirement, you will want to have a financial strategy in place well before you stop working. In the decade before retirement, there are a series of key decisions to be made, including what can be done about any outstanding debt that could threaten the stability of fixed income and investment sources. One potential path to navigate through debt may be a reverse mortgage.1 A...

Home Equity Conversion Mortgages (HECM), also known as reverse mortgages, can be a valuable financial tool for older adults during retirement.  Similar to other financial decisions, you need to determine if it’s the right option for you.  Both a HECM and a Home Equity Line of Credit (HELOC) allow borrowers to access their home equity as usable funds, but there are differences in how the loan is...

At the close of 2021, Americans felt the effects of inflations with higher costs for goods than in previous years. To help with inflation pressure, the Federal Reserve (Fed) has indicated they plan to enact their first rate hike in three years, and there could be another two before the end of 2022.1 Senior homeowners who have an existing reverse mortgage may find that with home values continuing...

With the holidays just around the corner, gift-giving has become even more stressful due to the current supply chain issues, limited selection, increased prices, and for those on a fixed income, having to pay for it all can be overwhelming.  According to the 2021 Bankrate Holiday Poll, 77% of US adults say they had shopping issues ranging from high prices, not finding the right item to shipping...