The effectiveness of a reverse mortgage is determined by the borrower’s retirement goals

Is a Reverse Mortgage Right for You?

Reverse mortgages have undergone substantial changes over the past year to make them safer for retirees. But just like many other financial products on the market today, reverse mortgages are not for everyone. A reverse mortgage allows homeowners age 62 and older to convert their home equity into tax-free proceeds, which they can use at…

“This savvy use of a HECM is catching on . . . . It’s what changed my mind about the potential value of HECMs for people in their early 60s and 70s.” -- Jane Bryant Quinn

Financial Guru Jane Bryant Quinn Recommends a Fresh Look at Reverse Mortgages

Reverse mortgages aren’t what they used to be. Recent program changes have not only made these loans safer for borrowers, but they’ve also made them better financial planning tools. And this has convinced many financial experts to change the way they look at reverse mortgages. One of those experts is Jane Bryant Quinn, one of…

Interest rates and housing prices could be good news for reverse mortgage borrowers

Four Predictions for Reverse Mortgage in 2016

If you’re considering getting a reverse mortgage, you’ve probably done your homework on loan basics and how a reverse mortgage differs from a traditional “forward” mortgage. (If you still have homework to catch up on, check out our introduction to reverse mortgage here.) What you might not have considered is that the reverse mortgage market,…

Many retirees have overlooked the nest egg they’re living in.

Is Your Nest Egg Hidden In Your Nest?!

Do you have a nest egg? You might, but you may not even know it. That’s because your nest egg may actually be your “nest,” that is, the home you live in now. If you own a home and have paid off all or a good portion of your mortgage after making years of payments…

For at least these three reasons, you should look into reverse mortgages.

The Top 3 Reasons To Get a Reverse Mortgage

If you’re approaching retirement, or have already stopped working full time, you might be eyeing your savings and your investment portfolio wondering: will it last? For some Americans, the answer is “yes.” For many, it’s “no.” And for a good portion, it’s “maybe.” If you find yourself in the “maybe” category, there are some measures…

A reverse mortgage credit line can exceed your home’s value if you get it early enough.

How to Most Effectively Use Reverse Mortgages in Retirement Planning

In the past, reverse mortgages were often considered loans of last resort, only to be used after a homeowner has exhausted all other financial assets.  Today, a national discussion has sprung up discussing how reverse mortgages can be effective when used as part of a coordinated retirement planning strategy.  Why now?  These loans underwent several…

New FHA Condo Rules for Reverse Mortgages Offer Lot of Sizzle, No Steak

New FHA Condo Rules Make Reverse Mortgages More Accessible

The federal government recently updated policies that impact the eligibility of condominiums for reverse mortgages.  This followed an outcry from lawmakers and various mortgage industry groups. But while the policy change is meant to ease rules, critics argue much more needs to be done, especially for condo residents looking to obtain reverse mortgages. In November,…

You’ve spent years caring for your home. Why not let it return the favor?

You Have Cared for Your Home, Now Let it Care for You

If you’re like most Americans approaching retirement, you’ve worked for decades with your end goal in mind. Most likely, you’ve carefully set aside savings for the future (or at least you’ve tried to), whether you have invested it conservatively or more liberally. But with costs of health care rising and the average lifespan increasing with…

reverse mortgage

Beware of a FREE Lunch: Reverse Mortgage Pros and Cons

There’s no such thing as a free lunch, right? While that may be true, there are some ways to get a little extra bang for your buck—and that can apply directly in the case of your home equity. If you’re like at least half of Americans, the majority of your wealth is being stored up…

reverse mortgage facts

14 Important Reverse Mortgage Facts

Many people are aware of reverse mortgage loan options due to the ongoing advertising campaigns and celebrity endorsements of these products. But do you know your reverse mortgage facts? With all of the buzz about retirement financing options today, it can be difficult to distinguish between complete and incomplete information about the reverse mortgage products…