Downsize to apartment or smaller home in retirement? Look back 15 years to anticipate the future
I recently met with “Helen” as she was in the process of selling her home she had purchased in LA County 30 years ago. Her home value went up a whopping $600,000 of which she will be able to keep about $300,000 after paying off mortgage and realtor fees. Helen…
40 years later, High School Sweethearts reconnect and buy home with a reverse mortgage for purchase
On my testimonials page you will see a picture of my good friend Patti. I did a reverse mortgage for her a few years back. She had been in a tough situation and was about to sign her house over to a company in exchange for no longer having mortgage…
Journal of Financial Planning: During market drops, using this strategy extends retirement survival by decades
For retirees with substantial investments in the stock market, February was a scary ride. On the 5th investors held their collective breath as the Dow Jones Average free fell almost 1,600 points; marking the biggest single-day point drop in stock market history. For those living on their stock market returns, February…
You may qualify for 6% compound growth on your Reverse Mortgage Line of Credit!
You are of Reverse Mortgage (RM) age but, you don’t need the money. You should get a RM anyway. There is a powerful tool in a RM called a Line of Credit Growth Rate. On the HECM(Home Equity Conversion Mortgage) Annual program with an initial rate of 4.35% (plus monthly…
HERO/PACE loans can now be paid off with a reverse mortgage
The United States has bet heavily on solar power, to the tune of 39 Billion in annual solar subsidies. California has also heavily invested in solar power with over $250 million dollars spent helping homeowners to install solar panels on their rooftops, energy efficient windows and doors, heating and cooling…
HTL Reverse Mortgage: Face to face service with LOW PRICES
Your home holds a special place in your heart. It is where friends come to visit, the place where your children come and bring your grandchildren for the Holidays. It is your refuge from the chaos out in the world. Your house is probably your largest nest-egg to help you…
BREAKING NEWS: FHA pays out more money on reverse mortgages starting 1/1/2018
Since the Reverse Mortgage (RM) program inception in the 1980’s there has been a cap on the value a RM will use to qualify a borrower on the program. This year the cap is $636,150; meaning, if a home appraises for $1,000,000 the program only uses the max claim value…
Do you have to be 62 to get a reverse mortgage?
It has been said that the only thing constant in life is change. In my 15 years working with reverse mortgages I can attest that this product has constantly evolved. Years ago, the hard rule was that only those over 62 could get a reverse mortgage (RM). This caused many…
Breaking: Purchase a brand new home with a reverse mortgage
The Federal Housing Administration has been busy this year improving and securing the Federal reverse mortgage program; the October changes have made it a more sustainable program for future seniors. Purchasing a home with a reverse mortgage had been a little difficult, but purchasing a new home with a reverse…
Financial Advisor/Accounting Tool: Take 60 seconds on your cell phone to get a reverse mortgage calculation
Have you ever been promised a “fast and easy quote” online, only to find out it was neither fast nor easy? After filling out a litany of information regarding your personal financial situation you discover that you only received a promise that someone will reach out to you later. www.Funds4seniors.com …
