Fixed or Annual rate? You might be surprised which is better for you.
Once you have decided to look into a reverse mortgage, one of the most important decisions you will make is whether to get a fixed rate or adjustable rate reverse mortgage. Experience will usually incline you towards a fixed rate; especially because rates are historically low. There are key differences…
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…
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…
Californians may have thousands buried in their backyards. Are you one of them?
If you had invested $70,000 in the stock market when you were 25 years old and over the next 40 years it grew to be worth $400,000; what would you do with it in retirement? Go visit a country you have always wanted to see? Remodel the kitchen? Use it…
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…
Why you should get a Reverse Mortgage LOC at 62, Especially if you don’t need any money now!
It has been said that compound growth is the most powerful force in the universe. Case in point, if a 16 year old today puts $2,000 away in a ROTH IRA until age 21 and lets it earn 9.4% interest annually (average stock market gain since 1926) this person would retire…
HUD: New protections for owners that came off title for spouse to obtain a reverse mortgage
In the past, some couples facing financial difficulty and the possibility of losing their homes, elected to have the younger spouse removed from title so they could get a reverse mortgage. Often this was because a spouse was under 62, stopping them from getting a reverse mortgage. Other times it…
