Blog
17
2020
19
2019
Retirement represents a major transition in a person’s life — one that comes with a lot of decisions. Chief among those may be the choice of where to live. While downsizing has been a common move for retirees in the past, many are now finding themselves “smart-sizing” instead. The concept of smart-sizing is about figuring… Continue Reading Why “Smart-Sizing” is the New Downsizing
29
2019
The decision to make a Home Equity Conversion Mortgage (HECM) part of your retirement plan should not be taken lightly. It starts with determining whether it makes sense for your situation, and also includes sorting through choices such as lump sum or installment payments, and considering a traditional reverse mortgage versus a HECM for Purchase… Continue Reading HECM Counseling: The First Step to a Successful Reverse Mortgage
24
2019
The Federal Housing Administration (FHA) recently updated its rules to make it easier for buyers and owners of condominium units to access FHA financing. The change, which went into effect earlier this month, opens up new possibilities for homebuyers and creates a new avenue for seniors interested in taking advantage of a Home Equity Conversion… Continue Reading FHA Rule Change Expands Reverse Mortgage Options
17
2019
A home equity conversion mortgage (HECM), or reverse mortgage, can be a valuable tool for seniors in retirement. A HECM enables homeowners 62 years of age or older to tap into their homes’ equity in the form of a one-time or monthly cash disbursements. If you’re considering pursuing a reverse mortgage, completing a self-evaluation is a… Continue Reading Considering a Reverse Mortgage? Start with a Self Evaluation.
10
2019
Just because your retirement has arrived doesn’t mean you’re out of time to find new opportunities to better your financial future. If your retirement plans include an active lifestyle and an interest in diversifying your asset portfolio, one tool at your disposal could be worth considering. Using a HECM for Purchase to buy a 2-4… Continue Reading Maximize your HECM for Purchase with a Multi-Family Property
27
2019
Since its establishment in the 1980s, the Home Equity Conversion Mortgage (HECM), or reverse mortgage, has helped more than 1 million seniors supplement their financial planning after the age of 62. A HECM allows eligible borrowers to access their home’s equity without having to sell, leave the home, or make monthly payments. Thanks to enhancements… Continue Reading Responsibilities and Protections are Key to a Successful Reverse Mortgage
15
2019
You may be familiar with the Home Equity Conversion Mortgage (HECM), or reverse mortgage program, which allows homeowners over age 62 to stay in their current homes while drawing on the equity. But did you know you can also use a HECM to buy a new home? For seniors looking to right-size or relocate in… Continue Reading Start Making Your HECM for Purchase Plan Now
30
2019
Natural disasters are nearly impossible to prepare for and can leave a wide swath of destruction in their path. From hurricanes and tornadoes to earthquakes and wildfires, unexpected disasters and extreme weather events can cause severe damage to your home. For many with reverse mortgage loans, it can be difficult to navigate the unknowns in… Continue Reading Managing Your Reverse Mortgage When Disaster Strikes
6
2019
The simple answer is yes. Much like a traditional mortgage, it is possible to refinance an existing reverse mortgage. Determining if it’s in your interest to do so can be a more complicated decision. Despite its differences from a conventional mortgage – limited to homeowners age 62 and up, and providing a way to… Continue Reading Can You Refinance a Reverse Mortgage?
