Author: Editorial Team

reverse mortgage

Reverse Mortgage Limits: The Government Limits How Much Money You Can Get in the First Year

The government-insured reverse mortgage program has undergone major changes in the last few years to better protect borrowers, including one that limits how much money borrowers can get in the first year of the loan. What?!?!???  Less money? How limited is access to your own home equity? Why is limiting how much money you can…

retirement expenses

Innovative Uses of Reverse Mortgages: Smart and Sophisticated Ways to Tap Home Equity for Greater Wealth

Generally speaking, the uses of reverse mortgages are endless.  And, you get to choose the best way to manage or spend the money from the loan. Most seniors use a reverse mortgage to help close a gap between their retirement expenses and their retirement income.  Reverse mortgages eliminate monthly mortgage payments and give you access…

health insurance for 55 and older

Health Insurance for 55 and Older: Real Life Questions and Answers for Health Insurance Before Medicare Eligibility

Many people want to retire before they are eligible for Medicare at age 65.  However, figuring out health insurance — and how to afford that coverage — is very difficult.  Health insurance for 55 and older can be very expensive, depending on your circumstances!  And, let’s face facts, health factors are more prevalent and unpredictable…

Should You Tell Family or Heirs About Your Decision to Get a Reverse Mortgage?

The only people you NEED to tell about your decision to get a reverse mortgage are those who are living in your home with you. However, there are many benefits to sharing your decision with other family members — especially potential heirs. Here are 5 reasons why you might want to talk to your loved…

reverse mortgage after death

What to Do About a Reverse Mortgage After Death: Reverse Mortgage Heirs Responsibility

Managing all of the responsibilities of an estate after death can be incredibly stressful. If your family member had a reverse mortgage and you are the heir, it is important to quickly figure out what to do about the reverse mortgage after death. The heirs of reverse mortgage borrowers have a set of duties, even…

The New Reverse Mortgage: This is Not a Loan of Last Resort

Reverse mortgages have been commonly viewed as a last resort that should be avoided like the plague. This false “loan of last resort” reputation reduces reverse mortgage use among many retirees who stand to benefit from tapping into their home equity. However, several recent developments have transformed these products into viable financial planning tools. New…

Long Term Care: Avoid the Pike Syndrome, Look the Problem in the Face and Make a Plan

No one wants to think about needing long term care. And, figuring out how you are going to pay for it (if you are among the potentially 70% who will require it) isn’t fun.  Of course you hope you’ll be in the 30%! Darol Tuttle is an accomplished attorney with over 23 years experience in…