Breaking: Purchase a brand new home with a reverse mortgage
The Federal Housing Administration has been busy this year improving and securing the Federal reverse mortgage program; the October changes have made it a more sustainable program for future seniors. Purchasing a home with a reverse mortgage had been a little difficult, but purchasing a new home with a reverse…
Financial Advisor/Accounting Tool: Take 60 seconds on your cell phone to get a reverse mortgage calculation
Have you ever been promised a “fast and easy quote” online, only to find out it was neither fast nor easy? After filling out a litany of information regarding your personal financial situation you discover that you only received a promise that someone will reach out to you later. www.Funds4seniors.com …
Are you leaving money on the table? What you may not know about Spousal Social Security benefits
As a kid I used to think that when I went off to school mom would sit around and eat bon bon’s and watch soap operas all day. Now that I am a father, I realize that Mom’s job was the toughest and most important job of all. Dad worked…
Considering a new reverse mortgage (RM) or refinancing your current RM? Do it well before 10/2/2017.
It has been said that the only thing constant in life is change. In my 15 years working with reverse mortgages I can attest that this product has constantly evolved. Years ago, the hard rule was that only those over 62 could get a reverse mortgage. This caused many younger…
Reverse Mortgages used differently by the wealthy
As noted by Steven A. Sass of Boston College Center for Retirement Research: “Retirement planning generally focuses on the use of financial assets. However, home equity is the largest store of savings for most households entering retirement.” In fact, the 2010 US Census shows that the average American 65 and…
Don’t go broke in retirement, avoid these mistakes
After all the years you’ve spent building your nest egg for retirement and the hard work you’ve put in, you’ll want to be extra careful in order to avoid spending your money too quickly. In addition, you’ll also want to watch out for tax traps and fraudulent scams that can…
The “Flex Pay” LOC offers a choice of mortgage payments and is safer than a HELOC
FLEX PAY EXPLAINED In a market with rising interest rates a traditional Home Equity Line of Credit (HELOC) can be a scary thought for a retiree living on a set income. If rates rise, or more money is taken out, then the minimum payment required also rises, which may cut…
Free Movies, Free Steak, Free Ice Cream, Yes Please!
Everyone likes free dessert on their birthday; did you know you can get free movies, free bowling, pie, steak, and even a free jousting tournament? Copy this comprehensive list and score some freebies on your next birthday or take your grand-kids out for some Freebies on theirs. Restaurant Birthday Freebies…
Most retirees are missing 82% of net-worth in their retirement plan
Do you imagine retiring to a tropical Caribbean beach living your days with a tropical drink in your hand, but maybe your savings is more in line with living at Motel 6 and bagging groceries the rest of your retirement? As we are reminded every time we go to the…
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…
