How much money is left to your kids after a Reverse Mortgage?
Have you ever thought about a reverse mortgage but worried you wouldn’t leave an inheritance for your kids if you got one? If you tell one of your friends you are thinking about getting a reverse mortgage, you might hear, “Don’t do that, they will take your home.” Even trusted…
Breaking: Reverse Mortgage to pay even more on high value homes
The Federally insured Reverse Mortgage (RM) or the Home Equity Conversion Mortgage (HECM) has always had a cap set on the value they will accept on appraisals. For 2019 this cap has been set to $726,525. If you apply for a RM and your home was to appraise for $800,000,…
Aging Gracefully; Our Guide to Senior Health and Wellness
Aging Gracefully: Our Guide To Senior Health And Wellness Guest Blogger – Daniel James We all understand the importance of a healthy lifestyle, and the need for one doesn’t change as we grow older. If anything, it’s more vital than ever to maintain a healthy lifestyle as a senior. With…
Alzheimer’s vaccines having positive results in human trials
Over 5.6 million people over 65 years old are living with Alzheimer’s disease in the United States. This disease affects far more than the many millions living with it; spouses, children, and grandchildren can be lost from memory and treated as complete strangers. The costs of caring for a loved…
Breaking: FHA eases condo rules for Reverse Mortgages
In the past condo owners were lucky if they were one of the few condo complexes that were FHA approved; only 6 ½ % of condos are actually FHA approved (housingwire.com). I worked with an applicant in San Diego and we tried for 6 months to get her condo to…
Reverse Mortgages have changed significantly over time
Most retirees understand a Reverse Mortgage (RM) can be used to access a percentage of the equity in their home, but don’t know how versatile a tool it can be. Here are some potential uses: A source of tax-free money (consult a tax advisor). Protection against future drops in housing. …