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…

Creative LTC Coverage

5 Creative Ways to Plan for and Fund Long Term Care

About 70% of of people who turn age 65 will need some type of long term care in their lifetime, according to the U.S. Department of Health and Human Services, but few are prepared to pay for that care. Despite that reality, most clients are “pretty much in denial” about long term care planning, says…

iStock_000008843078Medium

What is the New Reverse Mortgage? Should You Take a Look?

You may have recently seen a new reverse mortgage ad on TV.  It talks about the new reverse mortgage.  Is it really new?  The answer is both yes and no.  Reverse mortgages have evolved considerably, but they are still a product that help older Americans fund retirement by enabling them to tap into some of…

iStock_000000216117Small

The Truth About a Reverse Mortgage After Death of a Spouse

Over the last few months, there has been a lot of media coverage about what happens to the reverse mortgage surviving spouse — the spouse who is still alive after a reverse mortgage borrower dies. New Retirement is setting the record straight with a guide to everything you need to know about a reverse mortgage…

iStock_000001840964Medium_620

The Sandwich Generation Issues: 3 Ways to Alleviate the Stress

Many are familiar with the nicknames given to different generations, from the Greatest Generation to the Baby Boomers and Gen Xers. But a growing number of people are now getting acquainted with what’s being called the “Sandwich Generation”—the cohort of Americans who have dependent children along with elderly parents. Members of the Sandwich Generation are…

iStock_000010747674Small

FHA Updates Reverse Mortgage Program: More Money for Most New Borrowers

New changes to the government’s reverse mortgage program will provide more money to most new borrowers as long as interest rates remain low. The Department of Housing and Urban Development (HUD) announced on Friday a new set of principal limit factors. Principal limit factors are the calculations used to determine the amount of money borrowers…

iStock_000004538712Medium

Reverse Mortgage Information – Why Is it Kept So Secret by Friends and Family?

Reverse mortgages are financial products utilized by hundreds of thousands of older Americans. However, it appears that many borrowers are reticent to talk about the loans with their peer group. NewRetirement recently conducted a small survey of prospective borrowers and found that the majority did not intend to tell friends about the loans and only…

Diverse People Holding Single Word Trust

Interested in a Reverse Mortgage? 5 Tips for Finding a Reputable Reverse Mortgage Lender

When considering a financial product or loan of any sort, one of the first things to do is find a reputable company or lender to work with. This can be especially important for someone interested in taking out a reverse mortgage, a loan designated for borrowers age 62 and older. The importance of identifying a…

angry businessman make a fist  to yell

Why Do People Hate Reverse Mortgages?

Despite hundreds of thousands of older Americans taking out reverse mortgages and surveys showing that these retirees are happy with the results, some people still have a strong distaste for them. In nearly every case, if you dig a little deeper, much of the hatred for reverse mortgages comes from misunderstanding or lack of knowledge…

iStock_000007041715Small

Women Face High Risk of Poverty During Retirement; How to Protect Yourself

More than half of all Americans worry they won’t have enough money during retirement, but women are more at risk of this than men. More than half (52.6%) of women age 65 and older are considered “economically vulnerable” compared to 41.9% of men in the same age group, according to the Economic Policy Institute’s 2013…