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Does a Reverse Mortgage impact Social Security, Medicare, or taxes?

A Reverse Mortgage (RM) is a wonderful product that frees up your resources, and helps you to have the retirement you have always dreamed of.  It can provide funds for travel, visiting your grandchildren, renovating your home, medical costs, aging in place, or anything else you wish to accomplish.  The…

Downsize to apartment or smaller home in retirement? Look back 15 years to see 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…

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…

The Good, the Bad, and the Ugly of HERO home improvement loans

I have some clients that had a broken down A/C unit in their home.  They live in the desert and had to make a decision quickly with Summer fast approaching. They came across the HERO program and found it as an easy way to pay for a brand new system…

Don’t go broke in retirement, avoid these mistakes

After all the years you’ve spent building your nest egg for retirement and the hard work you’ve put in, you’ll want to be extra careful in order to avoid spending your money too quickly. In addition, you’ll also want to watch out for tax traps and fraudulent scams that can…

How much money have you left unclaimed from the government?

  Years ago, I had a savings account set up at First Interstate bank in California.  My local branch was closed while I was living out of state and the money in my account was given to the FDIC (Federal Deposit Insurance Corporation).  I had completely forgotten about this account…

Seasoned Americans receive additional tax deductions and credits from the IRS.

Wisdom is not the only benefit of aging, the IRS allows seniors to get some extra tax breaks.  Your taxes are high enough; don’t pay more than you need to. ELIMINATE INCOME TAX ON YOUR HOME SALE The first deduction is actually for all homeowners, but may benefit older Americans…