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Should you use a reverse mortgage to pay for long-term care? Someone turning 65 has nearly a 7-in-10 chance of needing long-term care in the future, according to the Department of Health and Human Services, and many don’t have the savings to manage the cost of assisted living. But they may have a mortgage-free home…

The Reverse Mortgage purchase can help out more in a market with low inventory. In today’s market with not enough inventory wouldn’t you love to be able to magically double your clients purchasing power, especially if they were thinking they could buy more home than they actually can? If they are age 62 or above,…

Rethinking estate planning: Leveraging HomeEquity’s CHIP Reverse Mortgage Wealth Professional spoke to HomeEquity’s Andrew Cairns about the timely topic of estate planning. Rethinking estate planning: Leveraging HomeEquity’s CHIP Reverse Mortgage By Chris Davies “I think,” says Andrew Cairns, National Lead of Wealth Management at HomeEquity Bank, “that there’s an opportunity for reverse mortgages to put…

80% Of Seniors Are Not Selling Their Homes – Here’s The Financial Strategy They’re Using Instead New data from the American Advisors Group shows that the overwhelming majority of seniors do not intend to sell their homes in older age and have no intention of ever moving. 82% of seniors say they want to live…

Sources of Retirement Income When you’re retired, you need dependable income — often from multiple sources Try not to rely on just one income stream in retirement, as it may not provide enough money. Think about what kinds of income streams are most possible and appealing for you. Consider dividend-paying stocks or reverse mortgages, for…

FHA Appraisal Requirements involve an appraiser inspecting your home to make sure it’s safe. For a Federal Housing Administration (FHA) loan to be approved, the home must pass an FHA inspection and appraisal. That means it must be worth the purchase price and have such basics as electricity, drinkable water, adequate heat, a stable roof, fire…

Partial Retirement Should be Embraced Through Reverse Mortgages Written by Jack Guttentag- The Mortgage Professor. Partial Retirement: An Inevitable Trend That Needs Support. People are living longer but they are not increasing the accumulated wealth needed to support a longer life of retirement. On the contrary, the swing from defined benefit to defined contribution pension…

How to Make Your Savings Last for Decades, According to a 96-Year-Old Retirement Expert Lots of retirement experts theorize about how best to plan for the thirty-plus years you hope to enjoy after hitting 65. When Jack Guttentag — who turned 96 last December — gives advice, he’s speaking from experience. Guttentag, an economist who…

Reverse Mortgage Borrowers’ Children Talk about it’s Successes While reverse mortgage loan originators frequently receive feedback from their clients and the family members, and adult children; it’s not often that borrowers’ adult children weigh in publicly about their experiences. During the National Reverse Mortgage Lenders Association’s annual conference last month in San Francisco, several children of reverse mortgage…

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…