HECM reverse mortgage case studies based on real-life scenarios that tie together key topics and terms. See how a reverse mortgage can enhance your retirement lifestyle and financial security.
Is retirement with a mortgage payment a good idea? Or is it just flushing your hard-earned retirement income down the drain? If you’re like many people, you may have refinanced your mortgage in the past few years to take advantage of insanely low interest rates. You may also have chosen a fixed 30-year mortgage. That’s … Read More >>
Nobody wants to run out of money and be financially shipwrecked in retirement. Unfortunately, there is a lurking and potentially devastating danger out there that can wreck even the best of retirement plans. In this article, I’d like to lay out a unique and little-known strategy (even to financial planners) that can help protect your … Read More >>
What 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. This woman, who we’ll call Norma, was 88, … Read More >>
Imagine it’s Christmas Day and you’re sitting on the sofa in the living room of your son’s house. A beautiful Christmas tree covered with ornaments and bright lights stands in the corner. The turkey baking in the oven fills the air with warm and delicious smells. Your favorite people in the whole world – your … Read More >>
Accountants and financial advisers beware, this case study might freak you out a bit. What if I said that a couple chose to drain their $80,000 IRA to get a reverse mortgage? Say what?? Gut an IRA to get a reverse mortgage? Were they nuts? It might sound completely crazy, but these clients did just that – … Read More >>
Mr. and Mrs. Smith, both 66, are retired and live in the state of Virginia. Mr. Smith had a very successful career as an aerospace engineer and Mrs. Smith had her own bookkeeping business. They made good money over the years, stayed out of debt, saved diligently, and managed to retire with a paid off house … Read More >>
Fred and Gina Mason, both 79, live in Reno, Nevada and have been retired for a number of years. Fred was an insurance agent for over thirty years and Gina worked as a school teacher for a local private school. They enjoy spending time with their grandchildren and taking the occasional trip, but their budget … Read More >>
Are you retired (or nearly retired) and still making mortgage payments? If so, is that what you envisioned for your retirement? Was it your plan from the beginning to make mortgage payments for the rest of your life? For most people, probably not. But we all know that life happens: health issues come up that force you … Read More >>
Nancy, 65, loved to travel and has been on many exciting trips throughout north and central America. During her working years she dreamed of a time in her life when she would be able to retire and really pursue her passion for exploring new places. Unfortunately, since retiring, she hasn’t been able to do many of the fun trips … Read More >>
