Cheerful couple relaxing on their couch using the laptop at home in the sitting room

New Reverse Mortgage Product Has Arrived: Here’s What You Need to Know

Reverse mortgages just got a lot safer. The government has implemented new rules for its Home Equity Conversion Mortgage (HECM) program. The new reverse mortgage rules include an important feature for any couple who are considering a reverse mortgage but have only one spouse on the home title. A second change also makes more proceeds…

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Are You a Good Fit for a Reverse Mortgage? Take This Quiz and Find Out

Have you been considering a reverse mortgage loan, but you’re not quite sure if it’s the right fit for you? Home Equity Conversion Mortgages (HECMs) are insured by the Federal Housing Administration and allow qualified homeowners to borrow against the equity they’ve built up in their homes in the form of a non-recourse loan. The…

Senior couple sitting on a park bench

It’s Not Too Late to Start Planning for Retirement

Have you recently retired without a comprehensive financial plan to take you through the coming years? It’s not too late to make one. A December 2013 survey from Fidelity found that more than half of Americans are at risk of not covering their essential expenses in retirement. PwC reported similar findings on its 2013 survey…

If Passed, the FHA Modernization Act of 2007 Harkens Good Things for Reverse Mortgage Borrowers

How Much Money You Can Get for a Reverse Mortgage Will Increase and Qualifying for a Reverse Mortgage Will Get Easier with the FHA Modernization Bill The FHA Modernization Act is designed to improve the Federal Housing Authority’s ability to help Americans obtain safe and affordable home loans and many see the Act as an…

Reverse Mortgages: Will they help some seniors avoid foreclosure? Perhaps

As I’m sure you’re aware there is a rising tide of foreclosures that is threatening up to 2 Million households. This is affecting all age groups and unfortunately it doesn’t look like the Hope Now plan to freeze some mortgage rates will bail out many people. However, some housing advocates and legal-aid attorneys are suggesting…