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Tag: HECM

Reverse Mortgages and Repairs to Your Home: What You Need to Know
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One of the biggest draws for reverse mortgages is their ability to help older adults remain in their homes, while also providing them with some additional cash flow via their home equity. But while not everyone’s home may be physically equipped to suit their aging needs, certain features of reverse mortgages can help cover some…

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HELOC vs HECM

Over 62? Which is Better a HECM or HELOC for Tapping Home Equity in Retirement?
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If you are like many retired American homeowners, you may have seriously considered accessing your home equity through a  Home Equity Line of Credit (HELOC). Utilizing a traditional HELOC can be a great short term solution to bridge the gap on unexpected expenses, consolidate higher interest debt, or make home improvements.  However, this type of…

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reverse mortgage reviews

Reverse Mortgage Reviews: Why Rants Have Become Raves
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Respect for and acceptance of reverse mortgages is growing by leaps and bounds. New reverse mortgage rules give retirees reasons to jump for joy! While, reverse mortgages once had many detractors, recent changes to the FHA reverse mortgage program have helped many people change their reverse mortgage reviews.  More people are beginning to see just…

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Does the Government Steal Your House When You Get a Reverse Mortgage?
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A reverse mortgage is a loan that enables homeowners aged 62 or older to borrow against the equity in their home without having to sell the home, give up title, or take on a monthly mortgage payment. These loans  are very popular but are often misunderstood.  A common reverse mortgage misconception has to do with…

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Henry Winkler Reverse Mortgage

Henry Winkler Reverse Mortgage? Fred Thompson Reverse Mortgage? Why Do Celebrities Pitch Reverse Mortgages?
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If you’ve never seen a reverse mortgage commercial featuring the familiar face of a celebrity, you’re probably in the minority. Reverse Mortgage lenders have long elected to work with famous faces to help them get the word out about reverse mortgage products. It’s a common practice. Baby boomer celebrities represent brands across all product and…

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Retirement Taxes: Reverse Mortgage Tax Implications
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Tax season can seem like an overwhelming time of year. As you’re busy gathering all the receipts, statements and other necessary documentation on your retirement assets, you might want to consider how alternative investments, like getting a reverse mortgage, can impact your retirement taxes. In recent years, reverse mortgages have been garnering greater acknowledgement within…

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

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

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Are Reverse Mortgage Disadvantages Too Great? What Are Your Alternatives?
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As you know, some seniors turn to reverse mortgages as a way to fund retirement, free up monthly cash-flow, or buy a new home. But reverse mortgages also come with pros and cons such as ongoing responsibilities of homeownership, upfront costs, or the drawing down of home equity over time that leaves less inheritance for…

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Disclaimer: The content, calculators, and tools on NewRetirement.com are for informational and educational purposes only and are not investment advice. They apply financial concepts in a general manner and include hypotheticals based on information you provide. For retirement planning, you should consider other assets, income, and investments such as equity in a home or savings accounts in addition to your retirement savings in an IRA or qualified plan such as a 401(k). Among other things, NewRetirement provides you with a way to estimate your future retirement income needs and assess the impact of different scenarios on retirement income. NewRetirement Planner and PlannerPlus are tools that individuals can use on their own behalf to help think through their future plans, but should not be acted upon as a complete financial plan. We strongly recommend that you seek the advice of a financial services professional who has a fiduciary relationship with you before making any type of investment or significant financial decision. NewRetirement strives to keep its information and tools accurate and up to date. The information presented is based on objective analysis, but it may not be the same that you find on a particular financial institution, service provider or specific product's site. All content, tools, financial products, calculations, estimates, forecasts, comparison shopping products and services are presented without warranty.