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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 […]

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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 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 purchasing and refinancing frenzy.1 Driving the […]

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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 […]

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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 […]

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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 […]

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Ways to Get Your House in Financial Order

“If you think nobody cares if you’re alive, try missing a couple of car payments.” – Earl Wilson Over the decades, you’ve probably uttered a variation of the statement, “I need to get my act together.” In your 20s, maybe you were trying to decide on a career path. In your 30s, maybe you wrestled […]

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Guide to Reverse Mortgages – What You Need to Know

A reverse mortgage loan is a financial tool capable of doing many things. Besides paying off your current mortgage, you can use it to pay bills, supplement retirement income, fix up your home, cover the cost of medical care, or simply reserve it as a powerful safety net for your retirement. Your options are virtually […]

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We Buy Houses – Too Good to Be True?

The letter arrived at just the right time. A week after her mother died in mid-2019, Suzanne was thinking about selling the family home her parents had owned since the early 1990s in the Sacramento foothills of California. A letter from a real estate investor offered close to $300,000 in cash to buy the home. […]

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Financial Planning is Important for Retirement

Even when you were younger, you wouldn’t think of scaling Half Dome without exhaustively planning every detail and contingency for your ascent. Well, the importance of financial planning for your retirement should take on a similar approach. Here are five reasons financial planning is so essential for your retirement: Planning implies active intent, interest, and […]

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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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