birmingham reverse mortgage Archives | Page 3 of 7

Active 55+ Communities Active 55+ Communities Present Growing Reverse Mortgage Opportunity. We know of many in Birmingham that people are using a Reverse Mortgage (HECM) Purchase to buy. I believe this to be a big way to save retirement funds from the sale of the last home. Lifestyle communities for residents over the age of 55…

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…

What to Look For In A Retirement Plan A retirement plan has two major objectives. One is to provide assurance that you will not run out of money at an advanced age. Reflecting this objective, and because only an annuity pays you until you die, with few exceptions every retirement plan should contain an annuity.…

Why Open A Reverse Mortgage Before It’s Needed? I have been preaching this sermon for years and some financial planners have started to listen. Open the Reverse Mortgage early in life and let the line of credit grow. The Elder Care publication (NAELA) wrote a front page article last spring call Long Term Care Insurance…

Nearly a Third of Retirees Would Prefer to Live Somewhere Else When asked directly if they would choose to live where they currently reside in retirement if given the option to choose again, nearly a third of respondents said “no” in a survey conducted primarily with people aged in their 70’s or above. The survey,…

Alternative home equity tapping products are largely seen by reverse mortgage originators and an industry observer as uncompetitive with the product, according to outreach conducted by RMD. The concept of allowing equity-rich and cash-poor homeowners to tap the value in their homes in order to gain access to additional cash has been growing beyond more…

Where and How Retirees See Themselves Living Over 80 percent of people aged 50 and over plan on living at home as they age, and 75 percent say that failing health would be a factor that would push them toward residence in an assisted living facility, followed by the loss of the ability to drive…

More Proceeds Its hard to explain sometimes that the same base rate on a Reverse Mortgage can fluctuate and give you more money that another; it even harder to get a prospective client to believe me when I tell them that. All other things being equal, prospective borrowers of a Home Equity Conversion Mortgage (HECM)…

Is a Reverse Mortgage Right For You? Read Answers to Popular Questions to Find Out Have you heard the term Reverse Mortgage popping up lately? If you’ve been looking for an extra source of income at retirement age, this could be your answer. Before you decide to go through with a reverse mortgage, you need…

Eliminate Mortgage Pre Retirement Why you should pay off your mortgage before you retire and what to do if you can’t written by Liz Weston, published by NerdWallet.com Most people would be better off not having mortgages in retirement. Relatively few will get any tax benefit from this debt, and the payments can get more…