Is your mortgage payment “strangling” you? Are you worried about which bills to pay on your fixed income?
According to a study recently released by Fannie Mae, more baby boomer retirees have mortgage debt than those retirees who were born between 1931 and 1935. “Paying off the mortgage, once a widespread rite of passage for homeowners approaching retirement has become less common in recent years,” wrote Patrick Simmons, director of strategic planning for […]
Integrating Housing Wealth into a Successful Retirement Plan By: Bob Muni, Reverse Mortgage Specialist What would you think of a financial product that offered: GUARANTEED GROWTH: tax-free funds guaranteed to grow at about 5% a year compounding annually that does not affect SSI, Medicare, Medicaid, etc.; unaffected by Stock, Bond, Real Estate or any market […]
How to use a Reverse Mortgage to Purchase A reverse mortgage, or a HECM (Home Equity Conversion Mortgage), is a way to turn the equity in your home into tax free cash without having to make any monthly mortgage payments. Instead of monthly payments, the loan is repaid in one lump sum when the last […]
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 […]
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 […]