The straight deal on the HECM reverse mortgage from an industry insider.
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December 10, 2018What do you think it’s like to be in your late eighties, in declining health, without a dime in the bank, and facing foreclosure? I had the chance to find out when I chatted with a woman in this exact situation. Folks, I’ll tell you, it isn’t fun. ... Read More >
November 26, 2018A lot of retired seniors are flushing their hard-earned income and assets down the drain. Are you one of them? If you’re like many seniors, you might have refinanced your mortgage in the past few years to take advantage of low interest rates. You may also have ... Read More >
October 10, 2018If you’re not familiar with the term sequence risk, you definitely should be. It’s a potentially devastating lurking danger that can completely swamp an otherwise solid retirement plan. Brian Davis wrote a great article over at Bigger Pockets on this topic a while back and I’d like to ... Read More >
October 2, 2018What if I said there was a way to turn a large portion of your home’s equity into a liquid and tax-free retirement account that grows larger over time? Would you believe me? If not, I wouldn’t hold it against you at all! What I want to show you ... Read More >
July 20, 2018So, how does a reverse mortgage work when you die? This is a very common question from seniors considering a reverse mortgage. Many seniors want to know what happens to their home after they pass away and who gets the equity in the home. Others are concerned ... Read More >
May 5, 2018I’m sure you’ve seen the commercials on TV with famous pitchmen extolling the virtues of reverse mortgages. They make reverse mortgages sound pretty good, right? So, what is the downside of reverse mortgages? What are some possible pitfalls you need to look out for? The HECM reverse ... Read More >
April 29, 2018So, how much equity is needed for a reverse mortgage exactly? Great question! And the answer is: it depends! There’s no set rule that applies to everybody. How much equity is needed for a reverse mortgage depends on how much you can qualify for with a reverse ... Read More >
March 16, 2018Can a reverse mortgage go into foreclosure? Absolutely! Like any other home loan, you must meet your program obligations or the bank could foreclose on the home. What’s unique about a reverse mortgage is that foreclosure is also a normal part of the program that applies even if ... Read More >
February 22, 2018When you hear (or read) the word “foreclosure”, what kind of images does that conjure up in your mind? Probably some pretty negative stuff, right? You’re probably thinking something along the lines of families experiencing hard times, falling behind on mortgage payments, and being forced out of ... Read More >
February 11, 2018I’ve worked with a lot of retired seniors over the years who had no clue they were headed dead-on for a financial iceberg. Many signed up for this iceberg on their own, but others did so at the recommendations of well-meaning CPAs, financial advisers, attorneys, and family ... Read More >