A grant program for seniors in the Columbus, Ga. area gives older residents a new avenue to explore for receiving critical repairs and upgrades to their homes in order to age in place, provided by long standing non-profit housing advocacy organization Habitat for Humanity. The program, called “Continuing Hope,” allows senior homeowners with adequate insurance […]
When attempting to anticipate long-term care needs, the process can be intimidating because of the cost involved. That cost may naturally lead a senior to look for alternative sources of funding for specific long-term care (LTC) needs, and a reverse mortgage may be one such alternative for seniors in a specific situation. This is according […]
Nearly half of American homeowners, at 48%, say they plan to retire sometime in their 60s. An additional 9% plan to do so during their 50s, and 22% plan on their 70s. 5%, however, say they’ll never retire, and 11% don’t know if retirement is an option for them. These are the findings of a […]
Tapping home equity is often an overlooked possible source of income for those with fixed resources, and considering the home equity that seniors have access to, reverse mortgage products should be considered when coming up with a retirement funding plan. This is according to Stephen Resch, VP of retirement strategies at Finance of America Reverse […]
Because there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare […]
For an industry that often tries to communicate the benefits of either a Home Equity Conversion Mortgage (HECM) or a proprietary reverse mortgage offering to American seniors, it may be surprising to learn that there is still a segment of older people – some of whom are quite advanced in age – that are entering […]
A program sponsored by Medicaid and Medicare which allows more seniors to age in place has recently expanded its presence in the state of California, keeping more seniors at home while reducing the cost of care for seniors in the state. This is according to a story appearing at Kaiser Health News (KHN). The Program […]
Women primarily carry the burden for serving as primary caregivers for their aging parents, which has notable implications on their own future financial and retirement goals. This is according to a study conducted by the Nationwide Retirement Institute, and highlighted recently by Yahoo Finance. According to the results of the study, nearly two-thirds of caregivers […]
As the reverse mortgage industry continues to deal with issues related to its reputation among consumers and other financial professionals, a respected financing columnist has recently discussed how her former opposition to reverse mortgage products has evolved into an appreciation for them due to additional borrower protections and strategic use cases. Jane Bryant Quinn, who […]
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a […]
