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Planning for Your Retirement

Planning your retirement can be a lot like preparing for your wedding day. Many thoughts are going through your mind. Do we have enough money to afford this? Is now really the right time? Am I ready to make this commitment? However, for most people that waited longer to retire or get married, they wished … Continued

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Debunking Reverse Mortgage Myths: Get the Facts

Debunking common myths around reverse mortgages. When reverse mortgage loans were first introduced in the early 1960s, they did not have any government programs backing it. Today, most, but not all, reverse mortgages are insured through the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) Program. In recent years, the FHA and U.S. Department … Continued

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How A Reverse Mortgage Loan Works In Divorce

Divorce can be emotionally stressful enough for everybody involved without the added worry of what’s going to happen with their finances. Often, one of the first questions asked is what is going to happen with their current home or where they are going to live. When splitting up the assets, one of the hardest decisions … Continued

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What Is A Reverse Mortgage Loan?

what is a reverse mortgage

Learn how a reverse mortgage works so you can decide if it is the right choice for you. What is a reverse mortgage loan? A reverse mortgage is a loan that allows homeowners 62 and older to convert a portion of their home equity into cash and defer repayment until they pass away, sell the … Continued

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Equity Vs. Cash

Let’s talk about one of the most confusing aspects of a reverse mortgage loan- home equity.  Most people are concerned about the equity in their homes, and too often, they view a reverse mortgage with the fear of losing that equity. Equity is the value of something (e.g., the value of shares in a company, … Continued

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Ownership and Title

One thing to consider with all mortgages, including the reverse mortgage loan, is how ownership of the property is structured.  In most instances, the property title is held either fee simple or joint ownership traditionally.  However, occasionally the homeownership can be in a trust. There are only two types of trusts – revocable and irrevocable. … Continued

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Should I Wait To Get A Reverse Mortgage Loan?

Many people think that they should wait until they’re older before getting a reverse mortgage loan because, generally, you can get a little more money as you get older. But let’s look at the factors that determine when is the best time. The reverse mortgage loan-to-value, or “principal limit factor” as we call it, is … Continued

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Emotion Vs Logic

The interesting thing is that when people make financial decisions, they often make them emotionally even though numbers are very logical. Two plus two always equals four, yet emotion comes into play in almost every financial decision. I’ve never seen a situation that has evoked more emotion than a reverse mortgage loan. People come up … Continued

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Long Term Care

Mortgage Help For Seniors – Long Term Care We try to anticipate all kinds of things that could happen; car accidents, house fires, illness or disability, etc.  But most people don’t think about or plan for the fact that 70%* of us are going to have to worry about the cost of long term care … Continued

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