Misconceptions

The New York Times Got It Wrong About Reverse Mortgages. Forbes Contributors by Jamie Hopkins Helps Undo Misconceptions. A recent New York Times article on reverse mortgages published a common error that feeds into negative misconceptions that continue to hinder using home equity as a strategic retirement income source. The New York Times article “Would…

New rules will cause some credit scores to rise July 1. CNBC Personal Finance by Jessica Dickler Do you know your credit score? Consumers may be a few days away from a higher credit score. Improved standards for new and existing public records in the databases of the three major credit reporting companies will be implemented…

Tools for Retirement Planning BETTER PLANNING FOR BETTER RETIREMENT. Reverse Mortgages: Many Users, Many Uses. Tom Davison explains how the Reverse Mortgage is not used for “last resort” any longer, but as a longevity planning tool. Reverse mortgages provide access to cash. Cash is the most flexible financial resource of all. In turn, access to…

Should I Get a Reverse Mortgage? The Motley Fool A reverse mortgage isn’t right for everyone and it does have some drawbacks, but for certain people, it can be a solid solution to retirement income needs. by Selena Maranjian. You can go other places, all right — you can live on the other side of the…

Reverse Mortgage Qualification. Here’s what you need to qualify for a reverse mortgage. What to expect when applying for a home equity conversion mortgage. Home equity conversion mortgages, more commonly known as reverse mortgages, are another avenue for homeowners to add to their financial assets and retirement plans. Reverse mortgages give older homeowners another source…

Caregiver Burnout: Do You or a Friend Suffer From It? As much as it is rewarding, providing care to an aging or disabled loved one can be a demanding and thankless job. We’ve rounded up some tips to help you reduce some of the stress. It’s no secret that many adults care for other adults…

Why a reverse mortgage might be a good idea for some older homeowners by Liz Weston. Los Angeles Times. Dear Liz: I recently retired to a small house I bought 30 years ago. I refinanced four times to get the rate down from 11% to 3.5%. This provided me with a low monthly mortgage (just…

Could a Reverse Mortgage (HECM) Save Your Retirement? Now It Counts-Home section. A HECM saves your retirement if you’re a homeowner age 62 or older, have paid down all or a considerable amount of your mortgage, and currently living in the home, you may participate in FHA’s Home Equity Conversion Mortgage (HECM) program. HECM is…

Five Financial Landmines Facing Retirees, By Trevor Gerszt. NEWSMAX Even though retirement planning is the most prominent financial issue facing seniors, it isn’t the only one. There are all sorts of pitfalls seniors may face that they need to be aware of as they get older. Not being aware of potential risks can mean the…