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 […]
For a senior looking for additional cash flow in retirement, a reverse mortgage can help to provide a solution as long as the potential borrower’s situation is a good fit for the use of the product. Still, as some seniors are branching out during the COVID-19 pandemic to try and entertain other potential options, some […]
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 […]
Reverse mortgages are getting a notable amount of new interest from American seniors due to the ongoing effects of the COVID-19 coronavirus pandemic, according to a newly-published column in Financial Advisor magazine. “Home Equity Conversion Mortgages (aka, reverse mortgages) allow those 62 and older to take equity out of their homes without monthly repayments; the […]
Divorce is an often painful, difficult process no matter when it’s decided on as a solution, but the difficulty and complexity of the process can increase significantly for those at or near retirement. If a senior is facing the prospect of a divorce and can consequently run into issues related to cash flow, a reverse […]
The reverse mortgage industry, as with virtually any other business, has a greater ability to thrive when more people decide to enter it. With some companies focusing on helping traditionally forward mortgage loan officers make a transition into reverse either as a new full-time focus or to add to their repertoire of offerings, those LOs […]
A Home Equity Conversion Mortgage (HECM) could be a viable choice for a potential borrower who has paid off their existing forward mortgage, and is looking for additional cash flow to fund expenses which may include repairs or healthcare costs. The solution should also make potential borrowers think long-term about associated costs and bequest assets, […]
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 […]
As the reverse mortgage industry becomes more populated with a wider variety of products with different potential advantages for potential clients to observe, the potential for reaching different types of customers is similarly expanded. In particular, the proliferation of private variations of the reverse mortgage that is separate from the government-sponsored Home Equity Conversion Mortgage […]
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, […]
