FHA increases RM Lending Limit for 2021
Reverse Mortgage Lending Limit Rises to Over $822k in 2021 The lending limit for federally-backed reverse mortgages is increasing for the fifth consecutive year in a row, set to hit $822,375 in 2021. The Department of Housing and Urban Development (HUD) announced on Wednesday via Mortgagee Letter (ML) 2020-42 a maximum claim…
Spending more time at home? Fix it up just how you have dreamed of with our digital contact Reverse Mortgage.
We have all spent more time at home than we ever imagined in the last 9 months. Your world has changed immensely over the Coronavirus pandemic, yet your home has stayed the same. A realtor client of mine called me the other day to tell me they decided to finally…
Social Security Increase for 2021
Every year the Social Security (SS) Administration considers a Cost of Living Adjustment (COLA) to all of the social security checks to help your SS check have the same purchasing power year over year. The greatest factor in this calculation is inflation or the rate at which the cost of…
SSA advice on starting Social Security & Medicare benefits
Written By WWW.SSA.GOV At Social Security, we’re often asked, “What’s the best age to start receiving retirement benefits?” The answer is that there’s not a single “best age” for everyone and, ultimately, it’s your choice. The most important thing is to make an informed decision. Base your decision about…
Free Online Retirement Tools from SSA.GOV
When I was 16, I remember waiting in seemingly the longest line of my life to get my Driver’s License. I was eagerly anticipating the independence this permit to drive would give me; the freedom to drive my buddies to the beach, to take a pretty girl on a date,…
Effectively use home equity in your retirement plan for the bucketing approach
My kids have been putting some money aside in a secret hiding spot so they can buy the newest and greatest video game system. Without knowing it, they have been using a type of bucketing system to accomplish their goals. Investopedia defines bucketing for retirement like this: “Bucketing segments funds…
Are you getting a 2nd Stimulus check?
The Health and Economic Recovery Omnibus Emergency Solutions (HEROES Act) has already passed the House of Representatives and is set to go through the Senate for a vote. If it passes, it is likely President Trump will sign the Act. He was cited by his aides that he is “largely supportive of sending Americans another round of stimulus checks, expressing the belief that the payments will boost the economy”. This would qualify families for up to $6,000 per household.
0.6% or 5.5% growth on your savings?
So much of our lives are spent in preparation for retirement. As young people, we are taught to get a good education so that we can earn enough to live comfortably and get money saved for the future. Once we graduate and get a good job, we begin to put…
Chase Bank Halts HELOC applications, but Reverse Mortgage Lines of Credit continue on and are guaranteed!
Last week, JPMorgan Chase announced they stopped accepting applications for Home Equity Lines of Credit (HELOC) loans. They cited the fact that rising unemployment rates could cause home values to fall. In 2008, the last time home values crashed the banks first halted taking applications for HELOCS, then they froze…
Find out what you will get with this Stimulus check calculator.
We are living in unprecedented times. Due to the COVID-19 Virus, all of California is on lock-down. The US unemployment rate is expected to be around 15% by the end of this quarter. The stock market is dropping and increasing by over 1,000 points quite often. Most importantly, many Americans…
