Five Reasons people hold off on taking out a Reverse Mortgage. Sometimes they wait until it’s too late
*Fear of making a mistake*Family influence or outside opinions*Confusion about how the loan really works*Feeling overwhelmed by too many details or steps*Not seeing enough urgency to act now*Something is still holding you back. What feels unresolved to you?” *I can help “unstick” the conversation, and the process includes:*What would need to happen for you to…
Read MoreMoving to Birmingham
Moving to Birmingham. Know also as the “Magic City,”—offers an affordable, high-quality life, with a 19% lower cost of living than the national average and a median home price around $290,000 in 2025. It boasts a thriving healthcare and tech economy (led by UAB), a robust, growing culinary scene, and abundant green spaces, including 11,000+…
Read MoreLegacy Perceptions Continue to Shape Views of Reverse Mortgages
Thanks to Morningstar and Longbridge Financial, highlights nine legacy perceptions that continue to influence how retirees think about reverse mortgages. Reverse mortgages and other senior home equity solutions have evolved significantly over the years. However, many people, including older homeowners and their heirs, still hold outdated beliefs rooted in myths and misconceptions about these products.…
Read More5 Psychological Reasons Many Homeowners Resist Reverse Mortgages
5 Psychological Reasons Many Homeowners Resist Reverse Mortgagesby Shannon Hicks. I wanted to bring this to all. It helps explain today’s Reverse Mortgage. Many older American homeowners hesitate to consider a reverse mortgage, even when they have no intention of leaving the home to their heirs. Often, the resistance is attributed to misinformation or stubbornness.…
Read MoreThis is a typical Reverse Mortgage Customer!
These are actual Reverse Mortgage customer scenarios showing how the reverse mortgage proved to be a great solution for them. Reverse Scenario: Larry & Julie are 70 years old, owe $75,000 on their $550,000, with a $1,200 monthly payment.They are looking for about $50,000 on a HELOC in order to remodel their kitchen.They are living…
Read MoreWhat is a Reverse Mortgage?
I pulled this word by word from the AARP handbook. There are also single-purpose reverse mortgage loans offered by states or local governments — these are often designated for paying property taxes or covering home repairs — as well as proprietary reverse mortgages with fees and terms that can vary by lender. Proprietary reverse mortgages…
Read More“This IS a Reverse Mortgage Customer!”
“This IS a Reverse Mortgage Customer!” Maria is 62 years old and still owes $125,000 on her $500,000 home. She has a good job and intends to work for another 6 years, retiring at age 68. She has no problem making her $1,200/month P&I payment on her current mortgage (with a 5% interest rate), BUT she…
Read MoreHow can Americans; especially senior Americans live with these high grocery prices?
Don’t expect Reverse mortgage rates to fall after the Fed’s interest-rate cuts.
But here’s one move borrowers can make right now.Waiting for the Fed to cut so Reverse Mortgage rates will go down is a ‘flawed’ idea, one professor says. I found this article I wanted to bring to my viewers. The 30-year mortgage rate fell to the lowest level in a year in early September, a…
Read MoreGovernment Shutdown
As most of you know by now, the Federal Government was shut down effective October 1 and will remain shut down until Congress comes to an agreement to continue funding the government. We will keep you updated as we learn and hear more here at SimpleReverse, but in the meantime, what does this mean for…
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