The reverse mortgage program can be a very valuable tool for addressing issues related to aging in place in the United States, as well as circumventing some problems related to the spread of COVID-19 in senior housing and nursing facilities. However, some issues including the volatility for the Federal Housing Administration and various servicing problems…

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Retiring without having to make regular mortgage payments is a big dream for many retirees, but is becoming increasingly unattainable for many Americans looking to transition out of work. This is one of the core reasons why home equity broadly – and reverse mortgages specifically – could be a viable option for a senior looking…

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If you are a senior with plans for relaxation and leisurely days throughout your retirement, it’s time to start planning. While many of your contemporaries may be talking about downsizing during their golden years, that’s not always the answer. Sometimes, the answer is to find more space and use each square foot to live your…

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An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a…

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An increasing number of unemployed people who identify themselves as “retired” have been thrown out of work due to the ongoing economic impacts of the COVID-19 coronavirus pandemic. For those who find themselves suddenly in retirement, it’s important to find options which can assist with cash flow, and in some cases this can include a…

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Reverse mortgages can serve as a potential path for older Americans to gain access to additional cash in retirement, but there are several considerations a retiree should make before applying that are both pros and cons. This is according to a new column published this week in U.S. News & World Report. A primary advantage…

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Making the decision about where and how to spend retirement can be difficult for many American seniors, often dictated by the amount of resources a retiree has access to. One of these decisions can involve either moving — into a new home or an assisted living facility at the appropriate time — or choosing to…

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For someone who has used existing assets to pay off an existing mortgage on their home, the use of a reverse mortgage line of credit would be an effective way to prepare for a person’s older years and to avoid premature exhaustion of assets, which can lead to poverty. This is according to Jack Guttentag,…

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