There are significant changes to the reverse mortgage (HECM – Home Equity Conversion Mortgage) coming on October 2, 2017. The government insured loan allowing homeowners 62 and over to access a portion of their equity will allow a smaller amount of equity to be tapped. That means that if you have been thinking about getting […]
“After factoring in supplemental insurance premiums and other uninsured health costs, the average retiree only takes home 75% of his or her Social Security benefits, according to a new study from researchers at Tufts University and Boston College. The researchers also warn that they only analyzed medical expenses, citing a 2017 paper that concluded that […]
Significant changes by the government in 2013-2015 removed the issues people had with reverse mortgages that led to a less-than-stellar reputation. The changes which resolved those issues prompted a new look at the product, its advantages and benefits. The boomer generation is reaching peak numbers of those arriving at the doorstep of retirement. However, many […]
Several months ago, Silver Leaf Mortgage, began its radio outreach to the community to provide accurate information on reverse mortgages. It has been a huge success with seniors who listen to Crawford Broadcasting any of the eight times the show airs each week. Matt Witt, President and Operations Manager for the local Colorado company based […]
“The most important time to have cash available to you is when you need it,” said the late Senator Fred Thompson. “And more people are using a reverse mortgage line of credit for just that—a line of credit that makes cash available for life’s unexpected turns, or just additional security that grows until you choose […]
Ninety-seven percent of Americans make no advanced plans for their eventual senior care needs. The line of credit feature on a reverse mortgage can be a valuable retirement asset to help retirees fund longevity. There are four main ways a reverse mortgage can be used to provide additional retirement security. Receive a Lump Sum at Closing […]
A Reverse Mortgage is a government insured loan that allows homeowners who are 62 years or older to convert the substantial equity in their home into non-taxable income. The amount of money that will be available is determined by the appraised value of the home, the amount of equity in the home and the age […]
