What Seniors Should Know About Buying a House with a Reverse Mortgage
Seniors considering buying a house with a reverse mortgage should be well-informed about the qualifications, process, benefits, and potential drawbacks. Here’s what you should know: Eligibility: You must be at least 62 years old to qualify for an FHA reverse mortgage for purchase. Depending on your state, there are proprietary reverse mortgages available for people as…
Read MoreWhat Attorneys Need To Know About Reverse Mortgages
Attorneys who deal with real estate, elder law, estate planning, family law and divorce or financial matters should be well-informed about reverse mortgages to provide comprehensive guidance to their clients. Here are some key aspects that attorneys should know about reverse mortgages: Legal Requirements and Regulations: Attorneys should have a solid understanding of the legal…
Read MoreExploring Reverse Mortgage Alternatives
Seniors seeking financial flexibility in retirement often consider a reverse mortgage as a way to tap into their home equity. However, a reverse mortgage may not be the ideal solution for everyone. Fortunately, there are a few reverse mortgage alternatives to consider that offer more wiggle room in your budget without the potential drawbacks of…
Read MoreNavigating Reverse Mortgage Fees and Costs: What You Need to Know
Reverse mortgages have gained attention as a financial option for seniors seeking to tap into their home equity. While they offer certain benefits, it’s crucial to understand the various fees and costs associated with reverse mortgages. In this blog, we’ll break down the expenses involved, helping you make an informed decision about whether a reverse…
Read MoreSafeguarding Your Retirement Planning During Economic Recessions
Retirement planning can begin at any time, but most people begin seriously considering retirement in their 30’s. For many of us, life gets in the way of the best laid plans and retirement planning doesn’t always go as intended. No matter when you start retirement planning, the success of your plan depends on many factors…
Read MoreShould Jack and Diane get a Reverse Mortgage?
Jack and Diane are considering a reverse mortgage. They have been married for 40 years. They raised a family together; 3 kids and 3 grandkids with another on the way. Jack’s football dreams ended after college, but he secured a great life for his family working for the city. That career allowed Diane to stay home…
Read MoreGetting a HELOC in Oregon
When deciding on getting a HELOC in Oregon, you must be aware that there are many different kinds of HELOCs available to choose from. Banks, lenders, and mortgage brokers offer various traditional HELOCs that have their own terms and conditions. The kind of HELOC you choose depends on your goals and your lifestyle. HELOC stands…
Read MoreQualifications for a Reverse Mortgage
Wondering if you meet the qualifications for a reverse mortgage? Thanks to reverse mortgages, many senior homeowners have been able to make home improvements, travel, pay off medical expenses, or supplement their income by tapping into their home equity. Reverse mortgages have become much safer, more accessible, and more popular thanks to the current Federal Housing…
Read MoreRetirees Reconsider How to Use Home Equity
-Written by Robin Rosa MLO #1402813, Reverse Mortgage Specialist Much damage has been done to the U.S. economy in the last two years causing retirees to reconsider how to use home equity. The COVID-19 pandemic coupled with shutdowns and central banks’ efforts to stimulate the economy has left the financial markets and world economies on…
Read More6 Things to Consider Before Getting a Reverse Mortgage
If you are considering getting a reverse mortgage, you may have done some research or even know someone who has one. Getting a reverse mortgage is an excellent way for people 55 years and older to convert their home equity to cash that they can use for additional retirement funds, home improvements, or medical expenses. Reverse mortgages allow the homeowner to…
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