HighTechLending, Inc. NMLS # 7147

Use a Reverse Mortgage strategically for deductions when needed and grow the Line of Credit simultaneously ; Excerpts from “The Street” website (see link below)

Reverse Mortgages (RM) are most often used to eliminate monthly mortgage payments, although borrowers are required to continue to make their home insurance and property tax payments.  Occasionally, a retiree may only want to lower their monthly mortgage payment to one that is more comfortable for them and they may…

The Federal Reserve announced significant rate increases and warns of a “housing bubble”

Early on in the pandemic the Federal Reserve (FR) slashed the Federal funds rate (FFR) (the rate it charges to banks for overnight borrowing) to stimulate the economy.  This was to combat the 22 million Americans that could not work and were unemployed.  This huge drop in FFR has an…

Effectively use home equity in your retirement plan for the bucketing approach

My kids have been putting some money aside in a secret hiding spot so they can buy the newest and greatest video game system.  Without knowing it, they have been using a type of bucketing system to accomplish their goals.  Investopedia defines bucketing for retirement like this: “Bucketing segments funds…

0.6% or 5.5% growth on your savings?

So much of our lives are spent in preparation for retirement. As young people, we are taught to get a good education so that we can earn enough to live comfortably and get money saved for the future. Once we graduate and get a good job, we begin to put…

Public & Private benefits checkup program

The Federal government is constantly growing and expanding.  In a 2015 Senate Judiciary Committee hearing, Chairman Chuck Grassley (R-IA) noted: “The Federal Register indicates there are over 430 departments, agencies, and sub-agencies in the federal government.”  How is a retiree supposed to be aware of all of the possible programs…

Gathering for the holidays is a great time to help loved ones

Thanksgiving, Christmas, and Hanukah are wonderful times to reconnect with family and friends that we hold so dear to us.  Life gets so busy that it is easy to lose touch with those we care for the most.   Teaching our kids to serve their grandparents or friends that we visit…

Create family experiences and a legacy with help from a Reverse Mortgage

You have spent a lifetime building your family and creating a safe home for your kids and grand-kids to enjoy together.  As your family has grown and gone out into the world they may have separated from you in distance or in closeness but there are things you can do…

Options that will increase your social security check

American retirees today are less prepared than previous generations. Many retirees believe that you need over $1 Million dollars saved to properly retire.   Yet, according to a BankRate survey in 2017 those aged 56 to 61 only have $163,577 set aside for their golden years. This indicates a huge dependence…

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…

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…