What Is a Reverse Mortgage

What Is a Reverse Mortgage, and How Does It Work? Money.com What Is a Reverse Mortgage? A reverse mortgage is a type of home loan for older homeowners. Unlike traditional mortgages, they don’t require homeowners to make monthly payments. Instead, the borrower receives payment from the lender — either monthly, via a line of credit […]

What Is a Professional Fiduciary

  What Is a Professional Fiduciary  Elder law attorneys urge the public to create a legal plan, but it is difficult for individuals without immediate family to decide who to appoint as their health care surrogate or agent under a power of attorney. All too often, these individuals avoid completing the appropriate documents, leaving them […]

Fighting inflation with a reverse mortgage

Fighting inflation with a reverse mortgage. What retirees need to know. As inflation concerns grow, many retirees worry about their purchasing power. Retirees may consider a reverse mortgage for inflation protection, financial experts say. Opening a reverse mortgage line of credit early and allowing it to grow may offer a buffer for future retirement expenses. […]

Baby Boomers Have Less Wealth

Baby Boomers Have Less Wealth Than Prior Classes The most recent cohort of Americans who are part of the “baby boomer” generation – typically classified as people born between 1946 and 1964 – are less wealthy when compared to older baby boomers, putting them at greater risk of financial instability in retirement. This is according […]

Social Security Program Changes

Social Security Program Changes, Effects on Reverse Mortgage Borrowers This year, the Social Security program will be seeing its largest cost of living adjustment (COLA) in seven years, with beneficiaries receiving an additional 2.8 percent to their benefit payout. The result of the COLA for the average individual retired Social Security beneficiary is expected to […]

78% of Seniors Own Homes Outright

78% of Seniors Own Homes Outright, But Some Struggle with Upkeep Financial Planners and some of the financial community have embraced the newer safer Reverse Mortgage because our seniors are living so long, but the retirement account cant keep up. The vast majority — 78% —  of homes in the U.S. headed by someone age […]

5 Income Strategies

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 […]