Because of the additional volatility introduced into the stock market by the outbreak of the COVID-19 coronavirus, retirees may have questions about what constitutes safe and sustainable tapping of their assets, accounts and investments to safely make it through the affected period. Changes to the interest rate environment have also made the traditional “4% rule” […]
There are four “overhyped” investment strategies that retirees should avoid when trying to determine how to make ends meet in retirement, and among equity-indexed annuities, non-traded real estate investment trusts (REITs) and cash-value life insurance, reverse mortgages should be considered among the last options. This is according to Liz Weston, a certified financial planner and […]
Maintaining enough income in retirement is an ongoing issue for many American seniors, and finding effective methods to maintain or bolster senior finances becomes a major concern. One such proven way to boost retirement income is by employing a reverse mortgage, particularly since it requires no monthly payments. This is according to financial columnist Selena […]
There are three major misconceptions that can lead to someone having an unsuccessful retirement, defined here as having no assets when someone passes away. One such misconception is that a reverse mortgage loan is a “last resort” option, since such loans can be a major factor when used as a component of a larger retirement […]
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 […]
