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A reverse mortgage or bankruptcy are two options available to the elderly with high debt. How to find your way out of difficult financial circumstances. by Liz Weston question and answers. Dear Liz: I desperately need your help! My husband, who is 91, is in the early stages of dementia. I just turned 88 and…

What To Do If You’re Home Rich And Cash Poor. A story I found from Forbes magazine today. What To Do If You’re Home Rich And Cash Poor. A story I found from Forbes magazine today. Your credit score is a big factor for most programs that allow you to draw some of the equity…

Reverse Mortgage Loan Limit to Rise Again in 2018 For the second year in a row, the loan lending limit for federally backed reverse mortgages is increasing. The Department of Housing and Urban Development on Thursday announced a maximum claim amount of $679,650 for calendar year 2018, up from $636,150 this past year. HUD arrives…

Reverse Mortgage Borrowers’ Children Talk about it’s Successes While reverse mortgage loan originators frequently receive feedback from their clients and the family members, and adult children; it’s not often that borrowers’ adult children weigh in publicly about their experiences. During the National Reverse Mortgage Lenders Association’s annual conference last month in San Francisco, several children of reverse mortgage…

Working Longer Can Help Fund Retirement, But Many Can’t Do It Another great article by Alex Spanko . Please note the Boston College study on working longer link at bottom. Staying in the workforce longer is, at least on its face, a simple solution to retirement problems: The more weeks a worker takes in a steady…

Fannie Mae, Freddie Mac Will See Higher Lending Limits in 2018 I found a good story written by Alex Spanko this morning saying that the amount of Government loans is going up. The Federal Housing Finance Agency on Tuesday announced an increase in Fannie Mae and Freddie Mac lending limits, citing nationwide home-price gains —…

For clients who need long-term care attention, the home-sweet-home solution unfortunately may be a money pit. When home-care costs go through the roof. By Donald Jay KornA recent poll from the Associated Press and the National Opinion Research Center shows 77% of older Americans would prefer to receive care in their own homes. That’s no…

How Reverse Mortgage Could Help Your Retirement I find tons of articles on Reverse Mortgages, and try to bring them all out in the open, not pick the good ones. Reverse mortgages, which let retirees tap the equity they have built up in their homes, have become a much better deal in recent years. (Newswire.net —…

10% of Older Homeowners Could Benefit from HECMs, Other Equity Loans About 10% of the homeowners aged 65 and older would benefit from the use of home equity extraction tools, according to a new study from the Urban Institute — but major structural and institutional barriers remain. Researchers Laurie Goodman, Karan Kaul, and Jun Zhu…

Reverse Mortgage Must-Reads: Cordray’s Warnings, CNBC’s Take Another week, another host of reverse mortgage headlines, from a top regulator’s plea to spread warnings about a particular Home Equity Conversion Mortgage strategy to a major news outlet’s take on the future of the program after recent changes. Use this handy cheat sheet of the most recent…