Sacrificing Lifestyle to Stretch Savings?
Retirement is supposed to be the time to enjoy the life you’ve worked so hard to build. But for many homeowners approaching or already in retirement, one question keeps them up at night: “Will my savings last?” With inflation, market uncertainty, and increasing medical costs, even well-prepared retirees are feeling the pinch. That’s where a…
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62+, A Commissioned Salesperson and Still Worried About Cash Flow?
Are you still required to pay on a mortgage? Donna B. was getting tired of the stress. A residential Realtor for over 35 years, a former top performer in her market and a distant dream to just slow down. The problem? She had refinanced her home in order to buy investment rental homes, and the new…
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Reverse Mortgage Myths, Or Why You May Miss One Of The Most Important Loan Products Available Today…
Reverse mortgages have been around for nearly 60 years and, during that time, have taken their fair share of knocks… from the unscrupulous peddlers to the lack of sufficient government oversight. Find out below how the Home Equity Conversion Mortgages (HECM), (the only HUD approved, FHA insured reverse mortgage available) has been turned into one…
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HECM And The Sandwich Generation – Relieving The Financial Cost Of Older Parents On Children
According to Pew Research, almost one-half of adults in their 40s and 50s fall into the Sandwich Generation, with about one-third (32%) of those saying they had given a parent financial support in the past 12 months. And when those middle-aged adults also have children to support, welcome to the financial cost of older parents…
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All Cash Home Purchase Coming Up Short?
A question for real estate and financial professionals: What do retirees, and those preparing to retire, want in what could be their last home purchase? Single-story living Modern design Upgraded kitchen Outdoor living space Low Maintenance Neighborhood and nearby amenities Proximity to family, children and grandchildren Manageable or no monthly payments The Problem: They just sold their…
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HECM And Silver Divorce: Sadly It Happens And Home Equity Conversion Mortgages Help Clear The Deck
Jack and Irene F. had been married 52 years, raised two wonderful adult children, watched them both marry the perfect wives and had 4 perfect grand babies. Unfortunately, those 52 years were not all rosy and some scars just can’t be repaired. And, sometimes just riding off together into the sunset no longer seems an option.…
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FHA’S NEW REVERSE: Independent Borrower Counseling … And We Encourage Heirs To Attend!
The Department of Housing and Urban Development (HUD) now requires that a third-party counselor be involved in every FHA insured Home Equity Conversion Mortgage (HECM). Why is this so important in the protection of the borrower’s interests? Because in the old days older homeowners were getting into loans that were poorly understood and, prior to…
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Did You Know You Can Buy a Home with a Reverse Mortgage?
Reverse mortgages have become one of the primary drivers of 55+ communities over the last several years. In fact, Epcon Communities (one of the largest developers of 55 and over neighborhoods), stated after introducing their FHA Home Equity Conversion Mortgage for Purchase (H4P) in 2013[1], “Now, 30% of our homebuyers utilize this buying option. After the…
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Aging In Place? Jim And Shirley Were In That Place, But It Wasn’t The Place For Them…
Jim and Shirley B. saved and invested for years and had all their assets in all the right places with a trusted financial advisor. But, with both now 75 and in great health, they just didn’t need the “big house”. So, she fixed up the old place, made it beautiful, sold it and, because Jim didn’t want…
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Surviving the Pandemic AND the Coming Recession: 5 Ways Home Equity Can Help You Thrive
Let’s face it, times are changing. The economy and financial markets have faced challenges and increased volatility. In the past, financial professionals recommended using home equity as a last resort and letting the home appreciation just happen over time. However, for those who have 60% or more equity in their home, it should certainly be…
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