How much money have you left unclaimed from the government?
Years ago, I had a savings account set up at First Interstate bank in California. My local branch was closed while I was living out of state and the money in my account was given to the FDIC (Federal Deposit Insurance Corporation). I had completely forgotten about this account…
Seasoned Americans receive additional tax deductions and credits from the IRS.
Wisdom is not the only benefit of aging, the IRS allows seniors to get some extra tax breaks. Your taxes are high enough; don’t pay more than you need to. ELIMINATE INCOME TAX ON YOUR HOME SALE The first deduction is actually for all homeowners, but may benefit older Americans…
Low housing inventories creating more cash to take out on reverse mortgages
“Joanne” was at a point in her life when her income was not keeping up with her bills and she realized that she needed to make a change in order to cover her high medical costs. A friend of hers had done a reverse mortgage with me and had nice…
Strategies that may increase your appraised value
The amount you can access on a reverse mortgage is directly related to your appraisal. The higher the appraised value, the more money you qualify for on this FHA program. Here are some suggestions that can pay big dividends to your appraised value and your pocketbook: Provide the appraiser a…
Putting off a living trust?
A wonderful friend of mine, Joan, recently closed her reverse mortgage. She was so excited to finally get a new car, and replace her A/C & Heating unit in her home. Her friend from Arizona left her a message and became worried when she did not call him back. After…
Like watching home flippers on TV? My client paid to renovate her home and got more money on a reverse mortgage!
We have all seen the wildly popular TV programs showing the apparent real estate geniuses making thousands or hundreds of thousands by flipping homes. They usually find a home that has not been updated in 30 years and put in new kitchens, bathrooms and add a little curb appeal to…
Reverse Mortgage limits increase in 2017!
The reverse mortgage loan limit is the cap that the RM program puts on home values used to calculate your qualification. The current limit is set at $625,000 and has been cemented there for many years; even though home values in California have been steadily rising. The limit effectively caps…
Get the facts; Today’s reverse mortgages are much better than yesterday’s
The first reverse mortgage (RM) was done in 1961 to help Nellie Young stay in her home after her husband died. Nellie Young was the widow of a high school football coach and Nelson Haynes of Deering Savings & Loan created a new program called a RM that helped her…
How will President Elect Trump impact your retirement?
Wall Street has shown positive signs after the new president was elected. The Dow Jones average has hit an all-time high, breaking the 19,000 benchmark. You may wonder; will this rally have a long term positive outcome for me? For 46 million baby boomers in the US, this new administration…
Buy prescription medications for less than your Medicare copays
Retirees on a fixed income understand all too well that the cost of prescription drugs has risen dramatically in the last few years; nationwide we saw 12% increases from 2015 to 2016. If you have serious allergies, you have seen the cost of your epipen rise from $200 to $600…
