Posts Tagged ‘HECM’
L.A. Times: Reverse Mortgage an Option After Pandemic Job Loss
A reverse mortgage is one possible option for a person aged 62 or older who has experienced a job loss as a result of the COVID-19 coronavirus pandemic, but the viability of the option is highly dependent on the individual situation of the senior in question. This is according to Liz Weston, a certified financial…
Read MoreForbes: Home Equity Can Help Solve the Retirement Crisis
As the United States continues to endure a retirement crisis that has only been exacerbated by the COVID-19 coronavirus pandemic, the home is an asset with continuously understated potential to assist with cash flow for retirees. This is especially true considering that the home is likely to be the largest asset that the majority of…
Read More5 Things Every First-Time Home Buyer Needs to Know
Here’s what every first-time home buyer needs to know to dive into house hunting with confidence—and with as few curveballs as possible. Whether it’s getting a mortgage, choosing a real estate agent, shopping for a home, or making a down payment, we lay out the must-knows of buying for the first time below. 1. How…
Read MoreWashington Post: Reverse Mortgage a Possible Option for ‘Underwater’ Homeowner
For a senior struggling with their home due to their mortgage being “underwater” — defined as the mortgage balance on a home exceeding its fair market value — a reverse mortgage could present a potentially viable option to unlock a home’s equity compared with other available options. This is according to reporters Ilyce Glink and…
Read MoreFor Many Seniors, the Home is ‘Unexpected’ Retirement Funding Source
For seniors across America, considering how to fund retirement if existing assets are insufficient can be an exercise in creative thinking resulting in expanding the canvas of thinking to encompass a broader range of potential options. For many seniors who are also homeowners, thinking of the home as a potential source of retirement funding is…
Read MoreReverse Mortgage LOC Can Help Seniors Endure Financial Turbulence
For those Americans over the age of 62 who have recently seen the values of their retirement accounts shaken by the ongoing effects of the COVID-19 coronavirus pandemic, the ability for a reverse mortgage to take some pressure off of individuals and their accounts should not be overlooked. This is according to a column appearing…
Read MoreForbes: How Reverse Mortgages Can Affect Taxes in Retirement
For seniors who may feel squeezed by the necessity of paying taxes in retirement on a fixed income, there are a number of ways in which a senior might be able to reduce their tax burdens in retirement. One of the possible methods can include a reverse mortgage, according to financial planner Erik Carter in…
Read MoreMortgage rates hit 10th record low of 2020, further fueling the US housing market’s boom
For the 10th time this year, mortgage rates hit a record low. The average 30-year fixed mortgage rate fell to 2.81% from 2.87% last week, Freddie Mac said in a Thursday release. The reading is the lowest in data going back nearly 50 years. The last record low was 2.86% seen in early September. The…
Read MoreMSN Money: Reverse Mortgage Facts for Seniors to Keep in Mind
With a wide range of information about retirement financing options available to seniors who are becoming increasingly more tech-savvy with each passing year, it can be difficult to sort out some of the specifically-relevant details that an older American should keep in mind if they’re contemplating taking out a reverse mortgage loan to supplement retirement…
Read MoreForbes: How Reverse Mortgages Work, Who They’re Suited For
A reverse mortgage can be thought of as similar to a conventional mortgage, but where the “roles are switched,” according to a new column at Forbes. They’re best suited for seniors encountering mounting costs late in life and those without heirs, and are not well-suited for those who hope to leave their home to an…
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