Are reverse mortgages an option for seniors who want to avoid nursing homes?

The full impact of the COVID-19 pandemic on the senior population is becoming clearer. According to recent estimates reported by the Washington Post, nearly 9 in 10 deaths attributable to COVID-19 were people aged 65 or older. Another pandemic-related point of clarity is related to older Americans who reside in nursing homes. Based on new… [Read More]

Seniors still making mortgage payments should consider HECM

Roughly 60% of homeowners at or approaching the age of 62 continue to make forward mortgage payments,a sizable expense as many people during that phase of life are transitioning out of their jobs and into a fixed-income environment. A reverse mortgage’s elimination of a monthly mortgage payment may provide needed financial relief for these seniors,… [Read More]

Alzheimer’s Experts Offer Tips for ‘Dementia-Friendly’ Homes

While most homes aren’t designed to be dementia-friendly, they can easily be adapted, according to a national Alzheimer’s disease group. “Virtually every aspect of a home can affect the person’s quality of life,” said Charles Fuschillo Jr., president and CEO of the Alzheimer’s Foundation of America (AFA). “From purchasing higher-tech appliances all the way down… [Read More]

Reverse mortgages have ‘reemerged’ to help pay for long-term care

Reverse mortgage loan proceeds can be used in a number of ways by borrowers who want to solve an issue with their cash flow. However, it’s becoming more and more common for borrowers to use the proceeds to pay for long-term care (LTC), like a nursing home, according to a recent article published in U.S…. [Read More]

Reverse mortgage worth mentioning in housing conversations with seniors

Conversations with older adults related to the housing needs of later life can be sensitive and difficult to navigate, but offering a range of options about what directions that seniors can take their housing futures into can be beneficial. One such option could include a reverse mortgage, according to a new column published by AARP…. [Read More]

Study: 72% of middle-class seniors may not be able to afford assisted living by 2033

A new study released by NORC at the University of Chicago finds that nearly three-quarters of American seniors will be unable to afford assisted living programs by 2033, excluding home equity wealth from the equation. However, even when home equity is included, less than half of seniors will be able to afford such care. “A… [Read More]

Women have grown increasingly well-prepared for retirement, data suggests

Title IX of the Education Amendments of 1972 codified the prohibition of discrimination on the basis of sex, which includes pregnancy, sexual orientation and gender identity. In the 50 years since the passage of Title IX, women have made visible and demonstrable progress in the realm of retirement planning, according to a new research brief… [Read More]

Seniors and Exercise

How can seniors benefit from aerobic exercise? Like virtue, exercise is its own reward — and it can help you feel as strong as you did when John F. Kennedy was president. Lifting weights is an excellent way to roll back the years, but the cornerstone of most senior fitness programs is aerobic exercise. Anything… [Read More]

Why High Senior Equity Makes It a Good Time For Home Modifications

Earlier this summer, homeowners aged 62 and older saw their collective housing wealth increase in Q1 2022 by approximately $520 billion to a record of $11.12 trillion, according to data provided by the National Reverse Mortgage Lenders Association (NRMLA) in conjunction with data analytics firm RiskSpan. Such historic levels of home equity may mean that… [Read More]