Many seniors in America have a justified fear of outliving their savings, and these anxieties have only grown more fierce as inflation has steadily increased in recent years. Between March and April of this year alone, the consumer price index increased 0.8%, but it was even more startling that it jumped over 4% from last
It doesn’t matter what word you use to describe today’s economy… the fact is, money has gotten tight for many seniors. Almost every client who calls in right now is feeling the pinch, whether it’s in the cost of groceries, gas, utilities or all the other things in our life which suddenly cost more. If
For years, reverse mortgages have not had the best reputation. It’s understandable, given that the early days of reverse mortgages left many believing that the only people who could benefit from them were seniors struggling with their finances. However, times have changed, and reverse mortgages are now a valuable tool. Reverse mortgages can be an
5 Homebuying & Mortgage Tips for Retirees
For retired seniors, the process of buying a new home can seem overwhelming, even if they’ve done it once or twice before. The priorities change in lenders’ eyes, and retirees may find themselves having more difficulty getting approved because their income isn’t high enough for them. They often face challenges when trying to buy a
Turning a Reverse Mortgage into an Investment Tool
There’s a lot of talk about reverse mortgages and for good reason. They can be powerful tools for seniors looking to access their home equity in retirement. According to an article published by Nasdaq, financial advisors believe that seniors can also prepare for their future with reverse mortgages. But it’s important to understand how reverse
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:
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
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
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