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 as part of a comprehensive retirement strategy, how different options work, and the various ways you can access your equity for a more secure future.
How to Create an Emergency Fund
An “emergency fund” is essentially a cash reserve set aside for unplanned expenses or financial emergencies. It’s your defense against Murphy’s Law, the idea that anything that can go wrong will go wrong over time, which could negatively impact your home, health, or finances. While defining an emergency fund is relatively easy, determining how much […]
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Can You Make Payments on a Reverse Mortgage Loan?
Most people associate a mortgage with a predetermined set of payments, usually monthly, that you are obligated to make to your lender until your debt (principal and interest) has been satisfied. This borrower-to-lender flow of payments is known as a traditional mortgage. A reverse mortgage reverses the process. Instead of making monthly payments to your […]
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Can You Rent Your House If You Have a Reverse Mortgage?
The main eligibility requirements for a reverse mortgage are relatively few. You must: If you look at the last requirement, which states you must “live in the home as your primary residence,” then renting out your house on which you have a reverse mortgage would not meet this rule. That said, the residency requirement would […]
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CA Prop 19 Expands Homebuying Opportunities
With the Nov. 3, 2020 passage of California’s Proposition 19, homeowners age 55 and older can now transfer their home’s Proposition 13 tax savings to a replacement home, including a more expensive one, anywhere in California. The tax break, which can be used up to three times, also extends to California homeowners with severe disabilities […]
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Reverse Mortgage and Medicaid: What You Should Know
Medicare is Awesome, But It’s Not Free – The Medigap v. Advantage Decision Generally, if you have reached the age of 65 and you have paid Medicare taxes (these are the FICA deductions on your paycheck) for at least 10 years, you will likely be eligible to receive Medicare benefits. But Medicare (Part A, hospital […]
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Can a Family Member Be Added to a HECM Reverse Mortgage?
People seem to enjoy making additions of one sort or another. Homeowners might add an extra bedroom to accommodate visiting in-laws. Golfers might add a solo player to complete a foursome. Or magicians might add a routine to improve their act. Unfortunately, however, you can’t add a family member to existing Home Equity Conversion Mortgages, […]
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How to Fund Your Retirement in a Down Market
If you have money invested in an IRA or 401(k), you probably have first-hand evidence on your computer screen or quarterly paper statement that your retirement account may be 10% or 20% off its pre-coronavirus highs. This wasn’t supposed to happen. You worked hard, put money away, and tried to plan for a worst-case scenario. […]
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15 Ways to Cut Winter Energy Costs
Along with chilled air, icy drafts, and the sight of smoke curling above chimney tops, we can often expect winter to bring higher energy bills. According to energystar.gov, a typical household in the U.S. spends more than $2,000 a year on energy bills. Of these costs, about 42% goes toward heating and cooling. The good […]
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Financial Remedies for When the Stock Market Goes Haywire
The first modern stock market crash occurred in 1907-08, precipitated by the 1906 San Francisco earthquake. To begin rebuilding the largest city and financial center west of the Rockies, the U.S. government furiously moved capital from East to West, when moving capital literally meant moving gold by ship or train. Other stock market crashes occurred […]
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Will a Reverse Mortgage Loan Affect Social Security?
Receiving funds from a reverse mortgage loan will not impact your Social Security. Similarly, a reverse mortgage has no impact on Medicare. Both Social Security and Medicare are non-means-tested programs, meaning these public benefits are not dependent on your amount of income, savings, capital, or assets, including how much money you receive from a reverse […]
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