‘New’ Reverse Mortgage vs HELOCs The Department of Housing and Urban Development’s latest changes to the reverse mortgage program have given rise to yet another “new” reverse mortgage — one with lower interest rates and ongoing insurance premiums that enable borrowers to preserve more of the equity in their homes. Some originators say the revised program…

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New Look. Reverse Mortgage Alabama. Time to take a new look at reverse mortgages. Alain Valles, CRMP FiftyPlusAdvocate.com. Since 1987, reverse mortgages, also known as Home Equity Conversion Mortgages (HECMs), have been a viable option for hundreds of thousands of qualified homeowners aged 62 and older. Over the past several years there have been many…

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New Consumer Tools. Reverse Mortgage Alabama. Reverse Mortgage Industry Promotes Transparency with New Consumer Tools Free Consumer Guides Now Available for Download from www.reversemortgage.org. The National Reverse Mortgage Lenders Association //www.nrmlaonline.org/ WASHINGTON, Feb. 7, 2017 /PRNewswire-USNewswire/ — The National Reverse Mortgage Lenders Association today announced the availability of three new resources for senior homeowners who…

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USA Today Lists Reverse Mortgages as a Key Nest Egg Booster USA Today listed reverse mortgages among multiple potential options for retirees to build their nest eggs, specifically pointing to the Home Equity Conversion Mortgage’s line-of-credit feature. Citing Kerry Uffman, founder of TWRU Private Wealth Management in Baton Rouge, La., writer Robert Powell positioned the product as…

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Financial advisers share what near-retirees need to know before retiring Retirement is a monumental transition in a person’s life, and it shouldn’t be taken lightly. Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances. Couples in particular are learning how to share their hopes…

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Need for long term care plan Very few families are prepared for the challenge of long term care for a loved one. This is because very few families plan for the contingency of needing long term care. The seniors themselves typically ignore the need for planning and the children or grandchildren are tied up in…

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Need Cash in These Tough Times? Here Are 16 Strategies These are financially stressful tough times. If you could use some more cash, put some of these ideas to work. I found this article today in the Motley Fool- an investment blog. I thought I needed to shre this in these tough times. The ongoing…

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National vs Local – Who is best to use? Shopping local is in the news as the national retailer, Amazon, is coming under scrutiny for being the cause of small businesses struggling or going out of business. National or out-of-state lenders also offer home loans, including reverse mortgages, but working with a local company is…

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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.…

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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…

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