A reverse mortgage is a powerful financial tool because it brings home equity into the retirement planning picture. In this article, I want to lay out my own reverse mortgage retirement plan. If you’re like many people, you may be surprised that I’ve included a reverse mortgage in my retirement plan. After all, aren’t reverse … Read More >>
The HECM reverse mortgage is a great retirement tool, but it’s not perfect for every financial situation. Like any product, it comes with pros and cons. In this article, we’ll cover the possible downside of reverse mortgages and potential pitfalls to watch out for. You’ve likely seen the TV commercials with famous pitchmen like Tom … Read More >>
Many seniors have the impression that reverse mortgages are expensive – mainly because of the closing costs. Yes, depending on the scenario, reverse mortgage closing costs can sometimes be pricey, but not always. Regardless of what the closing costs are, the overall cost of a reverse mortgage is often comparable to other common retirement and … Read More >>
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, I will freely acknowledge that a reverse mortgage is not always the right financial solution. If I believe a reverse mortgage will benefit you, yes, I’m going to do my … Read More >>
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 get-go that he didn’t want a reverse mortgage now. He just wanted to explore some options and call back in five years to set it up then. Jack basically wanted … Read More >>
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 to strike back at Japan for the Pearl Harbor attack. The bombing raid wasn’t expected to do a lot of physical damage, but it would boost American morale and strike … Read More >>
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 about the trip. I know we traveled on an airplane, but I have no recollection of where we went, what we did, or who we saw. What I do remember, … Read More >>
I have to admit I get a little annoyed at some of the articles and advice published in the media about reverse mortgages. Pundits and journalists generally mean well, but the advice they give is often based on the the rampant misinformation circulating about reverse mortgages. Case in point: a “Dear Penny” column that appeared … Read More >>
What if I told you there was one simple question that could get you thousands (or maybe tens of thousands) of dollars more from a reverse mortgage? Would you want to find out more? If so, read on! Now, before I fill you in on what this question is, I need to lay some groundwork. … Read More >>
