Tools and resources for a better,
more financially secure retirement.
We understand that planning to secure your financial future can be overwhelming, which is why we’ve simplified things for you. Browse through our articles to better understand the importance of home equity in a retirement plan, how different solutions work, and the various ways you can access your equity for a more secure future.
What You Need to Know About Homeowners Insurance
If you have ever had a mortgage, including a reverse mortgage, you know that as a condition of your loan, you must maintain homeowners insurance. This insurance helps protect you should something happen to your home, which serves as collateral for the loan. Pretty straightforward, right? But homeowners insurance cancellations and non-renewals (we’ll explain the […]Read More
Why You May Need to Act Now While Interest Rates Are Low
Seize the moment! Remember all those women on the Titanic who waved off the dessert cart. – Erma Bombeck Besides COVID-19 and the national election, one of the biggest stories of 2020 was the record-low mortgage rates that continued to favor borrowers. Mortgage rates fell to record lows 16 times throughout 2020, feeding a home […]Read More
The Fresh Start Initiative
A long time ago, in a galaxy, far, far away, you might have been debt free. Maybe it was before you bought your first car, went off to college, bought a home, or started buying nice things to fill your home. Or maybe it was before you were handed a jaw-dropping medical bill you simply […]Read More
Aging In The Right Place
Like Dorothy Gale of Kansas from the “Wizard of Oz,” there appears to be no place like home for millions of older Americans. About 90% of people, age 65 and over, would prefer to stay in their own homes as they age — and not go to a nursing home or assisted living facility.1 Unfortunately, this […]Read More
Ideal Candidates for a Reverse Mortgage
There may be as many reasons to consider a reverse mortgage loan as there are people at least 62 years old — the minimum age to apply for one. That’s because each older American is unique, with diverse financial needs and goals. The first reverse mortgage in 1961 went to a widow whose wish was […]Read More
Retain Your Home and Age in Place in Uncertain Times
Homeownership offers many advantages, not the least of which is the opportunity for appreciation, an increase in your home’s equity over time. For example, a median-priced home in the Minneapolis/St. Paul area was about $164,000 in 2011. By July 2020, the median home price in the same Twin Cities metro region was $305,000, an increase […]Read More
Does the Bank Own the House with a Reverse Mortgage?
It’s easy to understand why so many people mistakenly believe the lender takes ownership of the home in exchange for giving the borrower a reverse mortgage. The loan’s many advantages make it seem almost too good to be true. Some of these advantages are: The lender pays off the borrower’s current mortgage, if one still […]Read More
How Medicare Impacts Your Retirement Medical Expenses
Trying to anticipate your medical expenses in retirement isn’t easy. Who’s to say whether you will need a hip or knee replacement next year, or 10 years from now if ever? Now, you may be thinking that Medicare, the U.S. national health program, will cover the majority of your medical costs once you turn 65, […]Read More
Does Bad Credit Affect Reverse Mortgages?
You have no job, mounting medical bills, and poor credit. You’re 62, and your home is even older and in need of repairs. You might think you would be the least likely candidate to qualify for a mortgage loan, but you could be wrong. To find out if a reverse mortgage loan is right for […]Read More
Borrower Stories: Hope and John Scott
You think life goes on the way it has forever. Hope and John Scott had made a lovely home and marriage in Lakewood, Calif., anchored by John’s 42 years of employment for a major supermarket chain. Hope kept the house up and worked occasional jobs for extra income. Like so many Southern Californians, upon retirement […]Read More