Reverse Mortgage limits increase in 2017!
The reverse mortgage loan limit is the cap that the RM program puts on home values used to calculate your qualification. The current limit is set at $625,000 and has been cemented there for many years; even though home values in California have been steadily rising. The limit effectively caps…
Is your retirement income maximized? Are you sure?
As a teenager, I used to walk to my father’s work after school so we could carpool home. On his desk he had a placard with the phrase written, “Do it now”, not tomorrow, or next week, but now. You may think you will re-evaluate your income streams once you…
*Free appraisal promotion, limited time only
Summer is here in California; the grand-kids are getting out of school and the beaches and parks are beginning to fill up. Many families wait until the summertime to move causing an increase in demand and pushing home values to rise sharply this time of year, during the winter holidays…
Think a reverse mortgage isn’t for you? I dare you to read this article and not change your mind.
You are of Reverse Mortgage (RM) age and 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…
Can a person lose their home today from a Reverse Mortgage?
The first known reverse mortgage loan was done in 1961 by Deering Savings & Loan in Portland Maine. Nellie Young was the widow of the high school football coach and it helped her stay in her home even though she lost her husband’s income. By the 1970’s several private banks…
12 discounts mature citizens should take advantage of
The AMAC, Association of Mature American Citizens, was created to protect your interests and to offer an alternative perspective on how to best solve the problems seniors face today. In addition to petitioning for mature citizens this organization offers many discounts to its members; discounts on car rentals, prescriptions, identity…
Financial Advisors are recognizing reverse mortgages as a versatile tool for retirement
For years, some people have thought of reverse mortgages as a loan of “last resort”, for those that did not properly prepare for retirement, or because of losses in the financial sector in 2008 needed extra help. As seasoned advisors learn more about the Federally Insured HECM product they are finding…
FED rate hike affects the money paid out on Reverse Mortgages
The US has enjoyed historic low interest rates for the better part of 9 years. But Yesterday the Federal Reserve Chair, Janet Yellen announced that the economy has strengthened, opening the way for her to raise the FED funds rate for the first time in almost a decade (effectively since…
Protect Yourself From These Scams Targeting Retirees
The baby boomer generation continues to have a large affect on business in America. That is still true now that many are retiring. With the number of retirees increasing dramatically, more scammers have moved to targeting the older population. With that in mind, here is a list of some of…
Journal of Financial Planning research shows RM LOC can improve returns in stock market
Many people think that a reverse mortgage is a program for those running out of options, or those that did not sufficiently plan for retirement. This idea is false, as the program is a great tool for those that take the time to learn how to use it. A recent…
