reverse mortgage retirement: Home Equity Lines of Credit Are Ballooning - 04/04/14 12:51 AM
Home Equity Lines of Credit Are Ballooning
Home Equity Lines of Credit may cause a new problem for banks as many reach their 10 year anniversary. This means many borrowers willl have to start paying their principal balance on these loans on top of the interest payments they've been paying for the last 10 years.
According to an article published by Reuters, more than $221 billlions worth of these loans will hit the 10 year mark for the next four years in the country's largest banks such as Bank of America and Citigroup. Most of these loans have about 40% of the line of … (0 comments)

reverse mortgage retirement: Can I Age in Place With a Reverse Mortgage? - 07/11/13 04:54 AM
 Can I Age in Place With a Reverse Mortgage?
Yes You CAN!
Moving when you're entering retirement, or worse yet, when you've been in retirement for a few years, is the worst. I know because I've moved myself and it's always a hassle. 
Where do I move? How fast can I sell my house? How fast can I get a new house? Can I afford it? What do I take and what do I leave?
Moving isn't simple, but if you want to age in place, then you should consider a reverse mortgage. Why? It can help improve your home in order to age in place, … (0 comments)

reverse mortgage retirement: The Benefits of a Reverse Mortgage During Retirement - 07/08/13 06:34 AM
The Benefits of a Reverse Mortgage During Retirement
Despite the amount of proposed changes that may affect your ability to apply for a reverse mortgages in the future, all hope is not lost, especially for seniors hoping to avoid impoverishment during retirement.
The number of seniors that could potentially benefit from a reverse mortgage continues to grow, in part, because of the many options available for senior homeowners who decide a reverse mortgage is the RIGHT decision for them. 
In an article by The Mortgage Professor, citing a recent study by The Center for Retirement Research at Boston College, the amount of households … (0 comments)

reverse mortgage retirement: Can Reverse Mortgages Save Baby Boomers During Retirement? - 07/08/13 05:29 AM
Can Reverse Mortgages Save Baby Boomers During Retirement?
In a previous blog post, I talked about changing the way baby boomers look at retirement because many are unprepared for what is coming in their later years.
The unpredictability of long-term care insurance companies are becoming more predictable as many seniors, and everyone else, hold their breath waiting for the latest change to come.
What used to be a sure thing 20 to 30 years ago, when seniors began to research and pay for their current insurance policies, is no longer a sure thing.
In an article published today in … (0 comments)

reverse mortgage retirement: The Ugly Side of Waiting for Retirement - 07/08/13 05:24 AM
The Ugly Side of Waiting for Retirement
They say patience is a virtue. Be patient, wait, and that which you deserve will come to you. Sometimes though, waiting is probably the worst thing you can do.
In a video, which appeared in Reverse Focus, Shannon Hicks compares retirees who don't take advantage of a reverse mortgage to patients who are told about a medication that can prolong or save their lives and choosing to do nothing instead.
I agree because doing something, anything, is always better than doing nothing and, when you wait, you are doing nothing.
Waiting can lead to … (0 comments)

reverse mortgage retirement: Which Reverse Mortgage Option is RIGHT for YOU? - 06/27/13 01:54 AM
If a reverse mortgage is the right option for you, it's important to know that there are also many options within the reverse mortgage itself. These include: line of credit, lump sum payment, or,the least popular, scheduled tenure payments.
According to Reverse Focus, which published a video in May talking about the tenure payment as a long term solution for a retirement pension, this aspect of the reverse mortgage can be a saving grace for reverse mortgage borrowers because it offers equal monthly payments until the borrower(s) passes away or is no longer occuping the primary residence. 
While not as popular as a reverse … (0 comments)

reverse mortgage retirement: Changing the Way Baby Boomers Look at Retirement - 06/26/13 06:04 AM
In the first annual meeting of the Aging in Place Council more than 90 people gathered for a two day conference this past June 13 and 14 in Washington, D.C. to discuss innovative ideas to continue to the aging in place movement full speed ahead. In an article by Marty Bell, discussing various ideas that were brought forth in the meeting, one of the talking pointing was motivation. We need to motivate seniors to safe guard their financial security for the future, not just when there is a crisis.
In a previous blog post, which dealt with reverse mortgage as a source … (2 comments)