Reverse Mortgage Home Purchase: Finance a Home With No Mortgage Payment
If you’re an American homeowner 62 or older, the HECM reverse mortgage purchase program enables you to finance a home without a mortgage payment. Sound…
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A Little-Known Strategy to Help Protect Your Retirement Savings for Longer
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…
Are Reverse Mortgages Expensive?
Many seniors have the impression that reverse mortgages are expensive – mainly because of the closing costs. Yes, depending on the scenario, reverse mortgage closing…
A Few Changes for the HECM and Some Big Changes for MyHECM.com in 2022
Happy New Year! I sincerely hope that 2022 finds you well! In life, things are always changing, are they not? It’s no different in the…
The Biggest Pitfall of Using a HELOC for Cash in Retirement
I’ve chatted with many seniors over the years who believed that a HELOC is a better option than a reverse mortgage for cash in retirement.…
The Reverse Mortgage is a Great Product, But Here’s When It’s Best Avoided
The reverse mortgage is a fantastic financial product, but there are some situations where it’s best avoided. Though I’ve made a living doing reverse mortgages,…
Should I Get a Reverse Mortgage Now or Wait?
A man who I’ll call Jack contacted me about using a reverse mortgage to pay for future medical expenses. Jack made it clear from the…
Does Your Financial Plan Include “Retirement Insurance”?
Does your financial plan include “retirement insurance”? I’m guessing you’ve never heard of such a thing, right? The term is sometimes used to refer to…
What a Reverse Mortgage and a Legendary Airplane Have in Common
In early 1942, the United States was at war with Japan. Lt. Colonel James “Jimmy” Doolittle had been given the responsibility of planning a raid…
The Top 6 Misconceptions You May (Or May Not) Have Heard About Reverse Mortgages
When I was a young boy, my parents took my brother and I on a vacation. I was pretty little, so I don’t remember much…