When keeping in mind the pros and cons of a home equity line of credit, one financial planner and industry participant describe how a reverse mortgage could be a better choice for some seniors.
Home equity can help provide a path to a more secure retirement in light of increasing senior home equity, and rising retirement instability according to a new column at The Street.
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 […]
Product education is a major focus of reverse mortgage companies, and a major focus of the industry’s educational efforts in recent years has been focused on the financial advisor community. When advisors have an aversion to the product category, it’s the industry’s hope that additional information about reverse mortgages can help them to “come around” […]
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 […]
If a borrower elects to make voluntary payments on a reverse mortgage’s interest to manage its compounding, there can be positive tax benefits for the borrower who is seeking to manage their retirement finances by the use of home equity through a reverse mortgage. This is according to Shelley Giordano, co-founder of the Academy for […]
Although afflicted by reputational issues that often stem from negative media coverage and a lack of full understanding regarding what they are, reverse mortgages have undergone an intense stretch of maturation into a product that has been refined by consumer protections and greater understanding. It’s these attributes that make reverse mortgages a viable option for […]
A reverse mortgage has the potential to help retirees weather unexpected or emergency expenses in retirement, and should be seen as a viable path that can help certain seniors make ends meet. This is according to a story written by Robert Powell, the editor of TheStreet’s Retirement Daily in a new column published at USA […]
When asked to serve as a sponsor at a recent retirement strategies event hosted by TheStreet, Finance of America Reverse (FAR) saw a unique opportunity to discuss ways in which home equity could be implemented into retirement strategies. What FAR Vice President of Retirement Strategies Steve Resch did not expect, however, was the positivity he […]