4 Tips for Seniors Planning for Retirement
The decade before retirement can matter more to retirement success than any other time. With good planning, there is still time for seniors to accumulate money for retirement, especially for those who started saving later in life. Here are some steps to help seniors get their affairs in order to plan a comfortable retirement: 1.
This Little-Known Home Financing Tool May Be The Best for Senior Homebuyers
Most seniors have heard about reverse mortgages and their benefits. But did you know that a Reverse Mortgage can also be a powerful financial tool for buying a new home? Traditional reverse mortgages have grown popular over the past several years, but there is a specific kind of reverse mortgage that has gained popularity recently:
2022’s Loan Limit Increase on Reverse Mortgages and Its Potential Impact
For the fifth year in a row, the Federal Housing Administration (FHA) is increasing its loan limits; this time, to $970,000 for reverse mortgages in the new year. The proposed increase will reflect on areas that typically have higher-than-average home values. In the public statement above, the average home value, in this case, would surpass
Reverse mortgages give affluent seniors important financial options when it comes to tapping into the equity in their homes. But what kind of seniors value this flexibility the most? Those counting their pennies? Or those seniors considered “affluent” with a significant net worth? A recent study published in the Journal of Financial Planning has surprising
New Year, New Goals, Bigger Loans in 2022
If you’re like me, you’ll be looking forward to a little rest and relaxation time this holiday season. Everyone I know in the real estate space has been working long hours to help clients buy, sell or refinance property this year. While celebrating records or personal bests are fun, this is the time of year
Homeowners Insurance Premiums Are On The Rise
Recently, hurricane IDA left homeowners in Louisiana devastated. Homes have been damaged and destroyed and some seniors are still trying to recover the cost of their damages. If that is not enough, those homeowners are now paying more for their homeowner’s insurance premiums, making their cost to maintain the home more expensive.  For homeowners who
Help Us Fight Hunger With Our 13th Annual Turkey Drive!
We consider ourselves blessed and believe that Thanksgiving, especially, is the time to share those blessings. Help us provide a Thanksgiving dinner to disadvantaged families in our local community for the 13th year in a row! On Friday, November 12th between 11 AM and 1 PM we’ll be teaming up with Second Harvest Food Bank
3 Ways An HECM Reverse Mortgage Can Benefit You With The New Spending Limits.
HECMs (Home Equity Conversion Mortgage), are the most popular reverse mortgage program there is. It is insured by the Federal Housing Administration (FHA) and may have several benefits to you if you meet the age requirement of 62 and own your home. These mortgages are not new by any means. Did you know the first
Your Flood Insurance Premium Could Skyrocket in October
Over the years, we’ve always taken pride in giving you the facts and avoiding fear mongering. That said, this news is a bit scary. FEMA has announced new rates for flood insurance which will be effective October 1, 2021. Risk Rating 2.0, as FEMA is calling it, will likely result in drastic increases in flood
We spend our whole lives trying to accumulate net worth. And for many people reaching retirement, a significant portion of their net worth is tied to their home equity. But is this still the best way to go? Should seniors be looking to protect their home equity? Or is it a good idea to tap