Using a reverse mortgage for long-term care
When helping your clients make financial decisions for their future, it is essential to explore all options. Using home equity to increase cash flow in retirement is a popular option that allows seniors to stay in their homes without making monthly mortgage payments. Whether your clients need to pay...
3 Reasons to Consider Your Reverse Mortgage Options Now
It’s best to plan for retirement cash flow needs, and now is an ideal time for many homeowners to look at their options. In fact, those that believe that a reverse mortgage is a last resort may find that their options could be limited if they wait. Keep in mind, the reverse...
How to Potentially Protect Your Client’s Portfolio with a Reverse Mortgage
“Using reverse mortgages as portfolio buffers and emergency reserve funds will help protect against the premature eroding of portfolio assets because of poor timing.”1 There are many ways a reverse mortgage can be used as a practical way to benefit your clients’ portfolios. If used strategically, they can even see...
Home Purchase with a Reverse Mortgage
HECM for purchase began with the passage of the Housing and Economic Recovery Act of 2008. Before this legislation, if a homeowner in retirement wanted to relocate, qualifying for the new home often proved difficult. They would have to be eligible to purchase a home through traditional means, establish their...
Can a Reverse Mortgage Result in Foreclosure?
When your clients ask if a reverse mortgage could result in foreclosure, the answer is yes. However, when clients think of foreclosure, they think of the most common reason traditional (forward) loans end in foreclosure - failure to make the required monthly mortgage payment. Of course, that wouldn't make sense with...
Waiting May Come at a Cost for Your Clients
When making big decisions, procrastination is only natural. Most people fight this battle every morning when they have to sort out which projects are IMPORTANT, and which projects are just EASY. Unfortunately, making estate planning decisions based on an understanding of Tax Law, Social Security strategies, Medicare guidelines, market conditions,...
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