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Senior Poverty
Social Security Minimum Benefits Fail to Prevent Senior Poverty The Social Security program’s minimum benefit for retirees who have very low career earnings does not prevent a beneficiary in this category from staying out of poverty, and is continually being eroded because of a design flaw. This is according to a new research brief released…
Read MoreActive 55+ Communities
Active 55+ Communities Active 55+ Communities Present Growing Reverse Mortgage Opportunity. We know of many in Birmingham that people are using a Reverse Mortgage (HECM) Purchase to buy. I believe this to be a big way to save retirement funds from the sale of the last home. Lifestyle communities for residents over the age of 55…
Read MoreSocial Security Program Changes
Social Security Program Changes, Effects on Reverse Mortgage Borrowers This year, the Social Security program will be seeing its largest cost of living adjustment (COLA) in seven years, with beneficiaries receiving an additional 2.8 percent to their benefit payout. The result of the COLA for the average individual retired Social Security beneficiary is expected to…
Read MoreReverse Mortgages Can Help Millions
Reverse Mortgages Can Help Millions More Americans As the reverse mortgage industry continues to try and find new ways to expand business in the wake of difficult challenges that come with regulatory changes and generally reduced volume, one reverse mortgage loan officer was looking for an opportunity to share a novel idea in terms of…
Read MoreWhat to Look For In A Retirement Plan
What to Look For In A Retirement Plan A retirement plan has two major objectives. One is to provide assurance that you will not run out of money at an advanced age. Reflecting this objective, and because only an annuity pays you until you die, with few exceptions every retirement plan should contain an annuity.…
Read MoreYour home helps fund your retirement
Your home helps fund your retirement Many people live in their most valuable asset- their home. Here’s how its value could help you retire on your terms. Story from Merrill Lynch; one of the first large financial planner group that understood the HECM concept and how it helps sustain longevity. Also, Merrill Lynch send me…
Read MoreA Mortgage That Pays You
A Mortgage That Pays You. Your parents have spent years faithfully making monthly mortgage payments. Maybe it’s time to let that hard-earned equity give them cash in their bank account. I found this explanation in the Family Circle and thought to myself ” I continue to bring people Reverse Mortgage news, but usually it’s from…
Read MoreReverse Mortgage Before It’s Needed
Why Open A Reverse Mortgage Before It’s Needed? I have been preaching this sermon for years and some financial planners have started to listen. Open the Reverse Mortgage early in life and let the line of credit grow. The Elder Care publication (NAELA) wrote a front page article last spring call Long Term Care Insurance…
Read MoreRetirees Prefer to Live Somewhere Else
Nearly a Third of Retirees Would Prefer to Live Somewhere Else When asked directly if they would choose to live where they currently reside in retirement if given the option to choose again, nearly a third of respondents said “no” in a survey conducted primarily with people aged in their 70’s or above. The survey,…
Read MoreHECM Line of credit
Understanding Why And How The HECM Line Of Credit Grows Understanding Why And How The HECM Line Of Credit Grows by Wade Pfau the RETIREMENT RESEARCHER A mortgage’s effective rate is applied not just to the loan balance but also to the overall principal limit, which grows throughout the duration of the loan. How the…
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