April is National Financial Literacy Month. It’s a good thing, because America (as a group) needs help in the area of finances. Even the seniors. Seniors Debt Levels Are Headed in the Wrong Direction We traditionally think of seniors as having net worth tied at least in part to the increasing equity in their homes.
There’s a misperception brewing here in America. A big one. The traditional idea of retirement is changing. Fast. Most people think Americans have it all planned out… work until your early 60s. Retire. Sell the big house and move into a smaller home or even a condo. Something with less maintenance. Not so fast. New
It happened AGAIN this month. My phone rang – it was a buyer in meltdown mode. Let’s call them the Smiths. They were totally freaking out. The Smiths were pre-approved with one of the big national lenders from out of town (you’d recognize the name). But that was weeks ago. The Smiths had just days
January is a good time of year to revisit the topic of financial planning with your clients since most people usually feel some level of spending “hangover” from Christmas. When looking at the financial planning tools available to your clients age 60 and older, a reverse mortgage might be something to consider in a few
Reverse mortgages are a great way for seniors to obtain extra money during their retirement years without moving out or giving up their lifestyle. By using the equity in an existing home, seniors can obtain cash to pay for trips, remodel their home, or cover the cost of increased medical care. With that being said,
Thinking about taking out a reverse mortgage? A reverse mortgage is a powerful financial tool offering several important benefits for homeowners. However, they are not the right fit for everyone. In order to make an informed decision, you’ll need a better understanding of the pros and cons involved. What Is a Reverse Mortgage? First, let’s
Everybody knows reverse mortgages are like refinances, right? Someone has owned their home for years and built up equity, and a reverse mortgage allows them to access that equity while still keeping their home. BUT… Not many people know that you CAN use a reverse mortgage to BUY a house! How Reverse Mortgage Purchase Loans