What is a Beneficiary Deed and When Should It Be Used? A beneficiary deed, or commonly called a TOD deed (Transfer on Death Deed), is a special type of deed that can be used to transfer ownership of real estate outside probate and can be very useful when utilized with a Reverse Mortgage. The beneficiary deed is […]
If you are on a fixed income, it is common to defer home maintenance, due to cost. Sometimes delaying that basic care can end up costing more the longer you wait.
It is so common for seniors to delay home maintenance as they get further into retirement. It is natural, when you’re on a fixed income. Costs can be out of reach, the process can be overwhelming, and finding a contractor you can trust can be daunting. Silver Leaf Mortgage, Colorado’s #1 Reverse Mortgage Broker, has […]
Happy New Year! Each new year gives us the opportunity to reflect on the previous year, and see if there are ways we can improve things for the coming year. One area that often gets neglected in retirement is home maintenence. Despite having more time, it’s natural: it can be expensive, the process can be […]
The holiday season is upon us once again. A season filled with festivities, memories, decorations, and for most, added costs. Whether it is gifts for loved ones, travel expenses to visit family, or admission fees to special experiences. (The Nutcracker with your ballet-obsessed granddaughter, perhaps?) This time of year can get expensive. Especially for seniors […]
According to a recent Harvard study, debt among seniors has never been higher. In 2016, nearly half of all seniors were carrying a mortgage, and more seniors are filing for bankruptcy than ever before, increasing 500% since 1991. Having a mortgage while retired can quickly gobble up all of your retirement savings or fixed income. […]
Are you one of the estimated five million Americans 62 years and older who have a HELOC (Home Equity Line of Credit) as either your first lien or second mortgage? Many home owners have been paying interest only and are nearing the time for their HELOC to reset with a higher payment. On a fixed […]
Silver Leaf Mortgage, Colorado’s #1 Reverse Mortgage Broker, has helped hundreds of clients with home repairs over the past four years through charitable work and grants. The senior home repair program has been life changing for many seniors. Silver Leaf Mortgage, through The Forever Home Foundation, offers seniors a variety of programs including no-interest-rate and […]
Some people are convinced that a reverse mortgage is a trick—at first. And there are some historical reasons for that belief. Reverse mortgages have been around since the 1980s. Years ago, some questionable lenders failed to disclose that you are required to pay homeowners insurance and property taxes (which are paid through an escrow account […]
