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 […]
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 […]
It’s no secret that retirees are living longer and healthier lives than ever. In fact, the Social Security Administration estimates that “a quarter of 65-year-olds will hit age 90, and one in 10 will live beyond age 95.” For those that didn’t take into account a protracted timeline, it could mean rethinking their retirement strategies. […]
Your golden years have arrived, and retirement is in full swing. How do you make the most of your new freedom without sacrificing the financial stability you worked so hard to create? Well, if getting out of the house sounds like a start, a Home Equity Conversion Mortgage (HECM) could be just the vehicle to […]
It’s not a complicated equation. The longer a retirement, the more money it requires. But, figuring out how to deal with the reality of a retirement that could last 30 years or more is where the simplicity ends. Fortunately, there are multiple strategies for finding solutions, and a skilled financial advisor can discuss ways to […]
Life isn’t always smooth sailing, but homeowners with equity could access cash or a line of credit to combat stormy seas. Wondering which type of loan is right for you? Take a look at the following excursions to find out. All aboard!
Transitioning into a comfortable retirement typically requires hard work, careful planning and the ability to reconcile your financial health with long-held aspirations. However, if retirement is nearing and the resulting fixed income threatens to derail the lifestyle you imagined, an underutilized and often misunderstood tool could get you back on track. Add Income, Reduce Costs […]
In a perfect world where mortgage rates, market inventory and demand from homebuyers align, downsizing to a smaller home would be a piece of cake for aging seniors. Unfortunately, this isn’t always the case, and sometimes downsizing isn’t a feasible option. Seniors Staying Put Factors like lack of affordable inventory in a preferred location can […]
The fact that most of us can expect to enjoy a longer, healthier retirement than previous generations is certainly worth celebrating. However, it also requires careful consideration of the financial implications that come with a retirement that could last 40 years or more. Give Your Plan A Second Look If your retirement date is approaching, […]
For many of us, pets are treasured family members. That relationship doesn’t stop as we age—it just necessitates a few changes to make sure the four-legged and two-legged members of the family are comfortable and content. Read on for a few tips for aging in place with pets. Room to Roam If you have a […]
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