• Three Things You Never Knew About A HECM Reverse Mortgage

    Three Things You Never Knew About A HECM Reverse Mortgage Reverse mortgages are available to senior homeowners 62 and over, even married couples.  The borrower will live mortgage payment free and always retain the title to the home.  There are many myths and misconceptions that surround reverse mortgages – but there are also some not-so-known perks to the loans.   […]

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  • Gray Divorce Rates Are Climbing – Can Reverse Mortgage Help?

    Gray Divorce Rates Are Climbing – Can Reverse Mortgage Help? A Pew Research poll highlighted a very interesting trend among divorce in the United States – while divorce rates have drastically declined among younger adults, it’s nearly doubled among adults 50 and over in the past 25 years.  The truth is, it’s becoming more and more […]

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  • Can I Sell My Home If I Have A Reverse Mortgage Loan?

    Can I Sell My Home If I Have A Reverse Mortgage Loan? For many that obtain a reverse mortgage, the plan is to stay and age at home, but sometimes reasons come up that the homeowner will want or need to sell the home.  Is this possible if there is a reverse mortgage on the home? […]

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  • Tips For Adult Children When Considering A Reverse Mortgage With Your Parents

    Tips For Adult Children When Considering A Reverse Mortgage With Your Parents If you are concerned for your aging parents or relatives as their home becomes too much to manage or too difficult to move about,reverse mortgage may be an option.  It is common for adult children to look into the reverse mortgage process for their […]

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  • Changes in the Reverse Mortgage for Purchase Certificate of Occupancy Rule

    Changes in the Reverse Mortgage for Purchase Certificate of Occupancy Rule One of the hidden gems within the reverse mortgage program has long been the ability to purchase a home with it; the Reverse Mortgage for Purchase program.  But within that program was a frustrating rule – the requirement that the home being purchased have a Certificate of Occupancy […]

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  • Is a HECM Reverse Mortgage for Purchase A Good Decision?

    Is a HECM Reverse Mortgage for Purchase A Good Decision? We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash.  But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home […]

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  • Understanding Elder Law

    Understanding Elder Law Elder law is a relatively unknown segment of law and is often overlooked when seeking legal solutions.  But for some seniors and their families an elder law attorney may be exactly what they need.  Elder law is very broad and includes things like estate planning, probate, guardianship, real estate, nursing home neglect […]

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  • Will A HECM Reverse Mortgage Affect Social Security, Medicare & Pension?

    Will A HECM Reverse Mortgage Affect Social Security, Medicare & Pension? A very common concern among seniors and adult children when considering a reverse mortgage is how it will affect social security, medicare, and even certain pensions.  For many seniors, these benefits are a large part of their income. Fortunately, because the funds from a reverse mortgage are NOT considered taxable […]

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  • Only 3% Of Retirees Use A HECM Reverse Mortgage to Purchase A Home

    Why is it that only 2-3% of older Americans use the Reverse Mortgage for Purchase option to buy a home?  Recent studies show that even with the option available to them, they still seek traditional funding or opt to pay cash.  Why is that?  Well, surveys have shown there are three main reasons: 1.) No one told […]

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  • What Happens To A HECM Reverse Mortgage After The Owners Pass?

    A common question and concern surrounding reverse mortgage is what will happen to the home after the homeowners pass away?  Will the bank take possession?  Will it be allowed as inheritance?  Will it be possible to keep the home in the family?  Will the family of he deceased be held liable?  These are very valid […]

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  • What Is A Reverse Mortgage Maturity Event?

    For many who have had a conventional mortgage on their home, they are familiar with the “maturity date”.  But with a reverse mortgage, there is no maturity date, only a “maturity event”.  So, what’s the difference? A maturity date indicates the date which the borrower will make the final payment on the loan, including principal […]

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  • What Do Retirees Really Want?

    If you find yourself yearning for a retirement of comfort in your own home in a community you love, you are definitely not alone.  Here are some pretty telling facts and statistics surrounding the desires of older adults in the U.S.. According to research by the American Association of Retired Persons (AARP): Nearly 90 percent of […]

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  • Why a Reverse Mortgage is a Good Financial Strategy

    Reverse mortgages are available to seniors 62 and over who either have their home paid off or have substantial equity.  Certain criteria applies to the home in order to meet HUD’s rules, and although anyone on the loan must be 62 and over, they are available to married couples the same as individuals.  The funds available from these FHA insured […]

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  • Does My Home Qualify For A Reverse Mortgage?

    Reverse Mortgages are a specialized loan available to seniors 62 and over.  This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement.  But there are some requirements when it comes […]

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  • What To Expect When Applying For A Reverse Mortgage

    If you’ve reached the point you are ready to apply for a reverse mortgage, you have likely done a fair amount of research (and if you haven’t, feel free to read through the informational articles here on my blog).  So what comes next? Here’s a quick run down of what to expect… Age qualifications.  You’re probably […]

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  • Why Your Retirement Will Be Different Than Your Parents

    Decades ago, when our parents were working and raising a family, they looked at retirement as the true golden years.  It would be a time when they stopped working and lived off the fruits of their savings and investments.  Retirement planners used a three-legged-stool strategy back then.  The make up of this stool was Social Security, employer-sponsored retirement […]

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  • How Adult Children Can Help Their Parents With A Reverse Mortgage

    Perhaps your parents raised you in the home they are now ambling about. As you see them begin to slow, or have to jump on a plane every time they wish to see you, thoughts of helping them to have an easier time come across your mind. After all they deserve at this time of […]

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  • Is In-Home Senior Care Right For You?

    In today’s fast-paced society, seniors are more independent than ever before.  Many develop strong community ties, visit with nearby family frequently and even open their homes to out-of-state family, embrace a close circle of friends, and through options such as reverse mortgage, are able to stay in their homes comfortably for far longer than ever before. […]

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  • Finding a HECM Reverse Mortgage Lender

    For many retirees, a reverse mortgage is a feasible option to living the golden years they always dreamed of, or for others it may be a path to living within a budget without the constraints and worry of excessive financial distress.  In order to qualify for a reverse mortgage, the individual must own their home, […]

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  • Can I Sell A Home With A Reverse Mortgage?

    Typically when a senior takes out a reverse mortgage loan on a home, they intend to age there.  But on occasion and for various reasons, the homeowners wants to or needs to sell the home before the loan comes due and payable.  So, what now? Although this is an important factor, it’s not nearly as daunting as it […]

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