A reverse mortgage, specifically a federal government-sponsored Home Equity Conversion Mortgage (HECM), has a lot of moving parts that may make the product concept intimidating for some people. For those who are looking for alternative ways to try and create more cash flow in retirement, there are clear benefits as well as some inherent complexities […]
Category: Retirement
The judicious use of a reverse mortgage has the potential to aid those at or near retirement in avoiding exhausting their financial resources while on a fixed income, something that is likely of particular interest to those who are concerned of outliving their resources well after they’ve retired from a career. This is according to […]
Describing what a reverse mortgage is and how it can be used to the uninitiated, a new article also takes things a step further by aiming to provide contextual information about the decision-making process involved in the consideration of a reverse mortgage loan. This is according to a new column published in NextAdvisor. “While a […]
If someone is over the age of 50 with less than $100,000 in retirement savings to his or her name, then there are a few key things that person should be doing to make sure that retirement will not be a burden when it comes in the next 10-15 years. These include determining a realistic […]
The tax implications of using a Roth Individual Retirement Account (IRA) to convert assets from a traditional retirement account may give some people understandable pause, however one potential solution for paying the associated taxes could be the use of a reverse mortgage. This is according to Stephen Resch, VP of retirement strategies at Finance of […]
One of the most pronounced deficiencies of existing retirement programs is that instead of integrating three core features — including asset management, annuities and a Home Equity Conversion Mortgage (HECM) — these are all components which are considered separately. Integrating them into a single, efficient retirement plan could be very beneficial for a retiree, according […]
The approaches for seniors who carry mortgage debt into retirement may be determined by the nature of the debt itself, as well as whether or not that type of debt will impact their retirement financing goals. This is according to a column at CNBC, examining the best practices for paying off debt ahead of a […]
The ongoing impact of the COVID-19 coronavirus pandemic is causing many Americans to re-evaluate how they wish to spend their retirement years, with more saying that they wish to spend those years at home. That popularization of aging in place will spur a “wave” of innovation from businesses as the need for more home-based retirement […]
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 […]
The low interest rate environment currently being observed in the mortgage world can be difficult for retirees to navigate, due to the likelihood of their reliance on sources of fixed income. A reverse mortgage tailored to the specific needs of homeowner retirees may be able to help seniors in this situation, so long as the […]