How A Reverse Mortgage Could Help You Retire Better
Imagine waking up in retirement to find you no longer have a mortgage and there’s $50,000, $100,000, or $250,000 more in your bank account than you expected. This scenario isn’t just a castle in the sky. In fact, it plays out every day. The way it happens is with a reverse mortgage, and more than […]
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Are Heirs Responsible for HECM Reverse Mortgage Loan Debt?
If you are the heir of a Home Equity Conversion Mortgage borrower who has passed away, you are not personally responsible for paying off the debt, but you are in a position to decide how the debt is paid. You have several options and should select the one best for your situation. Here are the […]
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How to Gain Financial Stability in Retirement
Growing older introduces a lot of new challenges, whether it’s learning to deal with a few more aches and pains or mastering new technology so you can video-chat with your grandkids. That you can handle. What’s really got you tied in knots is how to gain financial stability in retirement. You wouldn’t be alone in […]
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10 Facts About Reverse Mortgages
1. What is a reverse mortgage? A reverse mortgage is a home equity loan exclusively designed for seniors 62 or older. Unlike a traditional home equity loan that you begin paying back soon after the loan closes, you have the option of not repaying a reverse mortgage until you actually leave the home or fail […]
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Biggest Financial Regrets and What You Can Do About Them
Sinatra said it best: “Regrets, I’ve had a few.” In a long, adventurous life, you’ve probably racked up more than your share too, both emotional and financial. That passed-up investment in a certain Internet search engine. The loan to your brother that went unpaid. The timeshare that cost many times more than the salesperson said […]
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How to Increase Your Credit Score Fast
Today, whether your goal is to buy a home or a car, rent an apartment, apply for a job, obtain a business loan, receive a lower insurance rate or simply get your utilities turned on in your name, you can expect the person or company evaluating your application to ask for permission to review your […]
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What is LESA?
Have You Been Properly Introduced to LESA (to Help You Pay Your Property Taxes)? In applying for a HECM reverse mortgage to help you retire better, one of the steps, established by the FHA in 2015, is a financial assessment to determine your ability to maintain your home and regularly pay your property taxes and […]
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10 Things You Should Never Do to Try to Save Money
While it’s a good idea to be reasonably frugal, and there are a lot of great and practical ways to save money, it’s possible to take things too far. Certain money-saving ideas may sound good initially but then they tend to backfire. Here is a list of 10 things that you should not do to […]
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Sequence of Returns Risk Takes Center Stage with Markets Down
In plain English, sequence of returns risk means that if the stock market plunges at about the same time you retire and start taking regular withdrawals from your primary investment account, you could be in for a big financial shock. That’s because an investment portfolio exposed to stock market losses early in retirement, and then […]
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Should You Accept the Job of Executor of Someone’s Will?
If you’ve been asked to serve as the executor of someone’s will, you should feel honored. It shows the person has a lot of faith in your integrity, as well as in your ability and organizational skills to carry out his or her last wishes. But just because you’ve been offered the role doesn’t mean […]
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