Reverse Mortgage Alabama | News and Blogs

Another Look at Reverse Mortgages Believe it or not, reverse mortgages had been around long before former Sen. Fred Thompson became a spokes person for American Advisors Group, one the largest players in the reverse mortgage industry. In fact, the first reverse mortgage was issued in 1961 to Nellie Young in Portland, Maine, by Nelson…

Americans Face Retirement Savings Regrets Amid Two-Pronged Crisis When asked for their most common financial regret, Americans yet again pointed to a lack of retirement savings as the top pick. For the third consecutive year, “not saving for retirement early enough” led consumer financial firm Bankrate’s list of money regrets, with 18% of respondents selecting…

5 Income Strategies to Supplement Social Security in Retirement. If you want income, annuities aren’t the only way to go. Social Security is only designed to replace about 40% of the average retiree’s income, leaving two options — either dramatically reduce your standard of living, or create additional income from other sources. While annuities are…

One-Third of Americans Have Less than $5K for Retirement The grim outlook for many Americans approaching retirement age has some new stark statistics: One-third of respondents in a recent survey said they’d saved less than $5,000 for retirement. Among baby boomers, one third said they had $25,000 or less in retirement cash available, according to…

DEFINITION of ‘Line-of-Credit Payment Plan. A recent article on investopedia that explains ye line of credit benefit. A method of receiving reverse mortgage proceeds that lets the homeowner borrow funds only as needed. The line-of-credit payment plan establishes a total amount the homeowner can borrow, called the initial principal limit, based on the homeowner’s age, the home’s…

Exploring Home Equity Amid Stock Market Uncertainty. The recent volatility in the stock market has brought stress and uncertainly to many retirees and investors. So far, the roller coaster ride has yet to significantly impact the reverse mortgage industry, loan originators said, but that could change if stocks continue to lose value. As companies were…

Strategies for Getting (and Staying) Organized While Caregiving Caring for a vulnerable elder can be rewarding as well as frustrating. It can increase our self-esteem to know that we are helping someone in need, but it can also burden us as we grapple with this difficult task and the fact that we aren’t perfect caregivers.…

Marketing the HECM for Purchase as a Lead Generator for Realtors Using a reverse mortgage to buy a home remains one of the white whales of the industry: Long touted as a potential way to boost loan originations and home sales alike, uptake has never quite met the lofty expectations for the product. But that…

Top 3 Excuses From Siblings Who Don’t Help With Care giving Unfair as it may seem, even in families of many adult children, one sibling us-ually becomes the primary caregiver for their aging parents. In many families, such as mine, this person is the one who lives the closest to the parents and/or is most…

Use Home Equity to Age in Place Advice from our webinar on reverse mortgages, home equity lines and refinances. A new Bankrate survey says 62 percent of homeowners never plan to move. If you’re one of those who’ll be aging in place, you may be considering using your home equity to help do it, by…