A HECM saves your retirement

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…

What is a reverse mortgage and tell me how it works? Most people really have no idea how a Reverse Mortgage works. DENVER NEWS– Retirees often rely on savings, investments and Social Security to get by during the later years of life, but there’s another option that can help: The reverse mortgage. A reverse mortgage is a particular…

Senators Raise Questions About Reverse Mortgages and Trump Budget. If you have been waiting on a reverse mortgage, now might be the right time. A pair of senators from opposite sides of the aisle on Wednesday sent a joint letter to the Department of Housing and Urban Development, seeking clarification about a proposed change to…

Want financial security? Home equity and retirement accounts are key, by Robert Powell, CNBC, USA Today It might seem obvious, even simplistic. But having home equity and retirement accounts are key to most families’ financial assets and — by extension — retirement security. According to new research from the nonpartisan Employee Benefit Research Institute (EBRI),…

Is a reverse mortgage right for me? Financial Planning by Steven Merrell, Monterey Herald. Q I recently saw a TV commercial advertising reverse mortgages. My mortgage is almost paid off. Is a reverse mortgage a good idea to help me cover my living costs? A If you are at least 62 years old and have…

With Population Aging, Canada Sees Reverse Mortgage Promise When Canada released its 2016 census data earlier this month, media outlets took notice of one interesting tidbit: For the first time since Canada began taking surveys of its population in 1871, people older than 65 outnumbered children younger than 15. The margin was slim, with seniors…

Reverse mortgages and healthcare by By Alain Valles, CRMP, MBA, CSA. Obama-care, Trump-care, no-care The cost of healthcare, doctor’s visits, prescriptions, and forms to fill out when you’re healthy is enough to make you sick. But when a cold turns more serious, or a life event occurs, or a chronic ailment worsens then the care available…

The average Cost of Senior Care. The average cost of senior care. In Alabama homemaker home care senior services and home health aide care services are comparable in price: $3,051 and $3,146, respectively. The cost of senior care adult day health care is the cheapest in the nation at just $596 a month, according to…

True Life HECM Story. I have long been a fan of reverse mortgages — if they are done in the right circumstances and for the right reasons. Regular readers of this column know I always put my money where my mouth is. And in the case of reverse mortgages, I want to give you a very personal…