Posts Tagged ‘reversemortgagealabama’
HECM line of credit funds are not garnishable.
I found this great article this morning, written by a National Mortgage Professional. Undrawn HECM line-of-credit funds are not garnishable.Reverse mortgage proceeds may lose protection once withdrawn.Payment structures matter: scheduled disbursements may be treated differently. A Florida appellate court has ruled that creditors cannot force homeowners to draw from unused reverse mortgage credit lines to…
Read MoreWorld Alzheimer’s Day
World Alzheimer’s Day underscores that time with loved ones is precious. For seniors with Alzheimer’s, visits from family, even if not remembered,provide emotional comfort, reduce anxiety, and foster a sense of belonging. Research, such as studies cited in BMC Geriatrics, shows that social engagement can improve mood and potentially slow cognitivedecline, echoing the mental health…
Read MoreHow can Americans; especially senior Americans live with these high grocery prices?
Government Shutdown
As most of you know by now, the Federal Government was shut down effective October 1 and will remain shut down until Congress comes to an agreement to continue funding the government. We will keep you updated as we learn and hear more here at SimpleReverse, but in the meantime, what does this mean for…
Read More3 things retirees should know about reverse mortgage rates now
There are a few big things retirees should know about reverse mortgage rates in today’s market. The Federal Reserve announced its first rate cut of 2025 yesterday, lowering its benchmark rate by a quarter of a percentage point. After holding steady for months in the face of stubborn inflation, the Fed is now signaling that…
Read MoreI’m 90 and work at a convenience store. I make $14.90 an hour, and money is tight, but I hope to retire.
This as-told-to essay is based on a conversation with Vince Scidone, a 90-year-old former carpenter in Oklahoma. Scidone works part-time as a cook at a convenience store chain. He returned to work after his wife, Deborah, got sick, and they needed additional income to support them in their retirement. Business Insider has verified Scidone’s income…
Read MoreWhen should retirees choose a HELOC over a reverse mortgage?
MoneyWatch: Managing Your Money Experts weigh in. Retirees should closely compare their HELOC and reverse mortgage options before borrowing any equity from their home. Retirees are increasingly exploring home equity as a tool to manage their rising costs. While inflation affects all of us, retirees are particularly vulnerable to its effects because of their fixed…
Read MoreFinancial Advisors should advise thier clients about a Reverse Mortgage.
Yes, it’s possible that an investment advisor could be sued if clients lost money due to their advice and felt that the advisor should have offered a reverse mortgage as a way to supplement their income, particularly if it was a suitable option for their situation and the advisor failed to present it. Here’s a…
Read MorePrepare for a Recession
5 Ways Retirees Can Prepare for a Recession…in Reverse If there’s one thing that can upend retirement plans it’s a recession which an increasing consensus of economists are predicting for the US economy. Indicators like a weakening labor market, stubbornly high inflation, and declining manufacturing activity all point to a potential economic slowdown. So, how…
Read MoreBenefits of a reverse mortgage
Benefits of a reverse mortgage. Is a reverse mortgage worth it? Moneywatch. CBS News Reverse mortgages provide some unique benefits compared to other home equity options. If you’re a senior looking to reduce expenses or have extra income, you may have come across a product known as a reverse mortgage. Reverse mortgages are a funding source…
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