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Traditional Vs Reverse Mortgage

February 2nd, 2016

Traditional Mortgage Defined A conventional or traditional mortgage is used to buy or refinance a home.  The lender lends you the funds, and in exchange, you agree to pay the lender back the money you borrowed, plus interest, over an

Have Your Retirement Accounts Recovered From the Great Recession?

January 19th, 2016

Many Americans were hit hard by the Great Recession of 2008.  A recent article states that, “the nation’s 401(k)s and IRAs lost about $2.4 trillion in the final two quarters of 2008, and the average loss that year for workers

What You Should Know About Credit Card Balance Transfers

January 5th, 2016

Transferring your credit card balance can be an effective way to reduce your overall credit card debt.  However, there are some things you should consider before taking advantage of such offers. Saving money Zero percent offers could potentially save you

Reverse Mortgage Vs New Caregiver Loans

December 22nd, 2015

What is a Reverse Mortgage? A reverse mortgage can help senior homeowners get the funds they need to plan for a more secure retirement.  A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a Federal Housing

Surprising Facts About Retirement

December 8th, 2015

A recent study from Fidelity Investments surveyed more than 12,000 people in an effort to separate myth from reality when it comes to retirement.  While those surveyed included pre-retirees, retirees and people that don’t plan to retire, a majority of

6 Strategies for Incorporating Home Equity into Your Retirement Plan

November 24th, 2015

Wade Pfau, a professor of retirement income at the American College of Financial Services just recently published a paper on six strategies for using a reverse mortgage as part of your retirement plan.  While there has been more research on

Types of Reverse Mortgages

November 11th, 2015

If you’re considering a reverse mortgage, it’s best to do your homework and educate yourself about your options.  Many people may not know that there are different types of reverse mortgage loans.  While the Federal Housing Administration insured loan program

Creative Ways to Fund Retirement

November 6th, 2015

If you haven’t saved enough for retirement, then you’re not alone.  According to a study by the Government Accountability Office (GAO), almost 29% of households age 55 and older don’t have a retirement savings or pension.  For those that did

Retirees May Need to Live on Less, Work Longer and Save More

January 9th, 2015

According to a recent article on economist.com, Americans have not saved enough to provide for their retirement.1 Contributing factors include longer life spans, retiring earlier, less generous pensions, and greater health expenses. The article states that there are only a

Differences Between a Traditional Reverse Mortgage and HECM for Purchase

November 20th, 2014

A Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is a Federal Housing Administration (FHA) insured loan which enables seniors to access a portion of their home’s equity to obtain tax free1 funds without having to make

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