Category: Reverse Mortgages

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…

Can You Benefit From Refinancing Your Reverse Mortgage?

Often times, a reverse mortgage transaction involves refinancing an existing “forward” mortgage into a reverse mortgage. However, it’s also possible to refinance an existing reverse mortgage to achieve a different interest rate or loan terms. Is reverse mortgage refinancing a good idea? A reverse mortgage is a loan that enables homeowners aged 62 or older…

reverse mortgage

Bumpy Road in Retirement? Learn How a Reverse Mortgage Can Be Your Spare Tire

The road in retirement can have all sorts of twists, turns and probably some pot holes.If you’re not prepared, these bumps have the potential to derail your financial security. However, you can have a contingency plan for when the path gets rocky. A reverse mortgage can be a spare tire for your retirement — there…

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…

Reverse Mortgage Myths Debunked — You Still Own Your Home and Have Home Equity

For some homeowners over 62 years old, a reverse mortgage can be a great option for improving retirement finances and quality of life. There are, however, quite a few misunderstandings when it comes to these complex financial products. In this article we will debunk a couple myths so you can more clearly decide if a…

Two Reasons to Get a Reverse Mortgage Now Instead of Later

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. 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…