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Save Money By Breaking These Habits

We all have little habits that are costing us money. When added up through the years, how much money could you save if you kicked these common money-draining habits1? Aggressive Driving. Not only is fast, aggressive driving bad for your

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New Reverse Mortgage Non-Borrowing Spouse Rule

Congress established the Home Equity Conversion Mortgage (HECM) program to be administered by the Department of Housing and Urban Development (HUD) in 1987. Since then, HUD has continued to update the program to better fit the needs of borrowers and

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Five Things to Know About Reverse Mortgages

Reverse mortgage loans can be a helpful financial option for senior homeowners struggling to make ends meet, but they are not appropriate for everyone. We have highlighted five things potential borrowers should know when considering a reverse mortgage loan. 1.

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2014 EBRI Retirement Survey Indicates Seniors Struggling With Debt

The Great Recession is over, but many are still feeling the pain as they recover financially. At-risk groups such as the growing senior population are especially vulnerable. Many retirees were forced into early retirement in recent years and feel financially

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Learning to Age Comfortably in Place

According to a recent study conducted by AARP, there has been a steady increase in senior citizens who wish to stay in their own homes as they age. This rising trend accounts for 90% of the seniors surveyed and is

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A Brief History of the Reverse Mortgage

For many senior homeowners, accessing a portion of the equity that they have built in their homes can be a vital financial resource. Over the years, Home Equity Conversion Mortgages (HECMs), also known as reverse mortgage loans, have helped many

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7 Things to Know About Reverse Mortgages

A reverse mortgage loan is a home equity loan that allows eligible seniors to access some of the equity they’ve built in their home. This can be an attractive financial option for seniors who find themselves house-rich but cash-poor and

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Using a HECM To Purchase Your Next Home

In 2008, Congress authorized the HECM (Home Equity Conversion Mortgage) for Purchase loan program which allows qualified seniors, ages 62 or older, to purchase a new principal residence using the equity from the sale of a previous residence or other

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How a Reverse Mortgage May Help You

Reverse mortgage loans allow senior homeowners 62 or older to access a portion of the equity in their home. In order to be eligible for a reverse mortgage borrowers must have sufficient equity in their home, live in the home

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Reverse Mortgage Scenarios

During the next two decades, approximately 10,000 Baby Boomers will turn 65 on a daily basis1. Some Boomers have been diligently planning for retirement and saving as much as possible for their golden years, while others have neglected to save

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