how do reverse mortgages work

How Your Home Can Function as a Pension Plan for Your Retirement

Ah, the good old days of defined benefit pension plans. Pensions used to be common and a wonderful source of retirement income. But these benefits are increasingly rare.If you are feeling the stress of funding retirement, it is likely because you simply lack the guaranteed pension income that your parents probably had.  You have worked…

reverse mortgage

Retirement Headed for the Rocks? How a Reverse Mortgage Can Light the Way to Security

Retirement can feel scary.  In fact, it sometimes feels like you are in a tiny boat up against a huge and unpredictable storm with a rocky shoreline ready to break up your way of life. However, you have navigated your financial life this far and — believe it or not — you can chart your…

reverse mortgage reviews

Reverse Mortgage Reviews: Why Rants Have Become Raves

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…

reverse mortgage lending limits

2016 Reverse Mortgage Lending Limits Remain High: More Money for Some Borrowers

The maximum reverse mortgage lending limit remains high in 2016, allowing retirees with substantial home equity to get more money than was available in previous years. A reverse mortgage enables homeowners age 62 and older to access their home equity in the form of a loan. Unlike a traditional “forward” mortgage, reverse mortgages do not…

Wisdom is one benefit of aging; larger reverse mortgage loan amounts is another.

The Older You Are, The Greater Your Reverse Mortgage Benefits

Reverse mortgages provide older homeowners with an additional source of cash flow to supplement, and even enhance, their retirement savings. Depending on a borrower’s age, there are several ways that older retirees can maximize their reverse mortgage potential. A reverse mortgage allows homeowners age 62 and older to convert a portion of their home equity…

Waiting until you’re older works for many folks, but for the wealthy it can be a different story.

Rich or Poor, Here’s How To Get the Most Out of a Reverse Mortgage

Reverse mortgages offer retirees a number of benefits. Not only can they provide extra cash flow to support a more comfortable  retirement, but when used strategically, they can also protect your investment accounts. A reverse mortgage allows homeowners age 62 or older the ability to convert their home equity into tax-free proceeds, which can be…

Used wisely, getting a reverse mortgage early in retirement can result in getting more out of both the reverse mortgage and your investments at the same time.

Two Reasons to Get a Reverse Mortgage Now Instead of Later

If used strategically, reverse mortgages can be valuable financial planning tools to help retirees cover a variety of lifestyle expenses and can also strengthen the spending power of their retirement portfolios. Conventional wisdom has suggested getting a reverse mortgage later in life, to maximize borrowing power. In the past, this made sense.  The majority of…

Taxable?  Deductible?  Income or not?  Tax Planning? These questions rise to the surface every year around this time.

The Tax Implications of Reverse Mortgages

The Tax Implications of Reverse Mortgages It’s tax season.  For both new and prospective reverse mortgage borrowers it brings to mind questions about how the money from a reverse mortgage is best handled from a tax perspective.  In either case, there are a few things you should know from a tax perspective. Reverse mortgages enable…

Protect Your Retirement Savings from New Medicare Fees with a Reverse Mortgage

Protect Your Retirement Savings from New Medicare Fees with a Reverse Mortgage

Earlier this year, Medicare introduced a new program framework that will make paying for certain coverage options more expensive in the future.  Covering these new surcharges would normally have to come out of other income or by drawing down your investments.  But, it doesn’t have to come out of pocket, or even out of your…

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…