Alternative Home Equity Tapping

Alternative home equity tapping products are largely seen by reverse mortgage originators and an industry observer as uncompetitive with the product, according to outreach conducted by RMD. The concept of allowing equity-rich and cash-poor homeowners to tap the value in their homes in order to gain access to additional cash has been growing beyond more…

Where and How Retirees See Themselves Living Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive…

My nursing home horror story In my line of work, I have seen and heard many nursing home stories. I have a lot of experience helping families use a Reverse Mortgage to supplement the cost of long term care or nursing home care. My recent experience is more disturbing that anything I had previously heard.…

Saving for Retirement: How Do You Stack Up? Ever wonder how you are doing planning for retirement? Kiplinger’s set out to find out for you. A new poll conducted by Kiplinger and Personal Capital reveals Americans are serious about preparing for retirement. See how your savings — and confidence level — measure up. Americans are…

Long Term Care Insurance Grows More Difficult for Seniors to Fund Financial PLanners and Elder Care Attorneys are recommending Reverse Mortgages (HECM) to help seniors have enough funds to retire or put the money in a line of credit and let grow until their client has medical needs. Options for long-term care (LTC) insurance are diminishing…

Financial Planners Warm to Reverse Mortgages, Though There’s Still Work to Do Although there are still issues in the general reputation of reverse mortgage product offerings, more financial advisors and planners have shown signs of warming up to the product and how it could help their clients to fund retirement. This is according to a…

The problem with getting a reverse mortgage on a condo is approval If you have ever tried to get a Reverse Mortgage for your condo and no-one will assist- its because if your complex is not FHA approved, it is a nightmare to get it approved. With FHA spot approval a distant memory, originators struggle…

More Proceeds Its hard to explain sometimes that the same base rate on a Reverse Mortgage can fluctuate and give you more money that another; it even harder to get a prospective client to believe me when I tell them that. All other things being equal, prospective borrowers of a Home Equity Conversion Mortgage (HECM)…

Late Life Retirement Risks Retirees are prone to disruptive late-life financial risks as life expectancy grows, including widowhood, financial mistakes attributed to a decline in cognitive abilities and high out-of-pocket healthcare expenses. This, according to a new brief released by the Center for Retirement Research (CRR) at Boston College. While currently-available research literature indicates that…

Financial Advisors View Changing Slowly about Reverse Mortgages being a longevity tool. Reverse Mortgages Seen By Advisors As Option Of Last Resort Time was, reverse mortgages were anathema to financial advisors. One big reason was self-serving: Since the loans provide an income stream, they meant less client money for advisors to manage—and from which to…