Blog
Dec
29,
2020
29,
2020
It’s never too late for a fresh start. In fact, it’s possible to support your retirement and move into a new home at the same time. In this video, Open Mortgage CEO and founder Scott Gordon discusses the financial flexibility of a HECM for Purchase mortgage. Some topics he covers: Downsizing or relocating to cut […]
Nov
19,
2020
19,
2020
Do you envision a reverse mortgage in your future? Possibly in 2021? In this video, our CEO and founder Scott Gordon advises you on preparing for a reverse mortgage application. Some of the topics he discusses: Which documents you’ll need to start gathering Communicating with heirs about your decision to apply for a reverse mortgage […]
Sep
1,
2020
1,
2020
Longtime homeowners may be content with their home just the way it is, but home equity shouldn’t be overlooked as retirement nears. The ability to utilize tools such as a Home Equity Conversion Mortgage (HECM) or a Home Equity Line of Credit (HELOC) can be a valuable resource to support and maintain retirement plans. While […]
Jul
30,
2020
30,
2020
Reverse mortgages have recently started to become a proactive part of a comprehensive retirement plan. They can be particularly effective for homeowners whose wealth is primarily in home equity. Watch this video if you are a new retiree who doesn’t need money now but wants the security that comes with knowing it’s available during economic […]
Jun
17,
2020
17,
2020
The coronavirus has tested the financial stability of many; that’s especially the case for those preparing for—or currently navigating—retirement. If you have a reverse mortgage, or you’re considering one, this video is for you. Here are some of the topics our CEO and founder, Scott Gordon, discusses: How reverse mortgages might act as a financial […]
Apr
21,
2020
21,
2020
Reverse mortgages are often stigmatized as a last resort financial option for retirees. This couldn’t be farther from reality. These types of loans could be a proactive way to explore your retirement plans—one in which you’re able to use home equity as an emergency lifeline for cash in your daily life, especially during periods of […]
Apr
9,
2020
9,
2020
Amid the COVID-19 Pandemic, emergency rate cuts by the Federal Reserve have brought the federal funds rate to nearly zero. While not directly influenced by those cuts, mortgage rates for home buyers have followed a similar, downward trend and hover near historic lows. As applications for new mortgages and refinancing grow in response, homeowners with […]
Mar
19,
2020
19,
2020
As homeowners get older, it becomes increasingly more difficult and expensive for them to maintain a larger home. That’s why many retirees and empty nesters are moving into smaller spaces. Downsizing, however, is not for everyone. Consider some of the pros and cons of reducing the size of your living spaces before you start shopping. […]
Feb
13,
2020
13,
2020
Is it time to refresh your mortgage? If your current mortgage payment has been a part of your life for more than a few years, don’t assume your mortgaging options are few and far between. Not so. A mortgage makeover could have you looking at your monthly payment in a whole new light. Refinance With […]
Feb
4,
2020
4,
2020
Healthcare becomes an increasingly important issue as you age. As retirement approaches, planning ahead to deal with declining health—and more specifically—the costs involved, can make or break the financial stability that most of us aim for at the end of our careers. One tool that older homeowners have at their disposal to meet the financial […]
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