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Tag: hecm

5 Important Features of a Reverse Mortgage

Are you considering a reverse mortgage, but are overwhelmed by all the information out there?  We’ve highlighted five key features of a reverse mortgage below to help you decide if this product is right for you. A Home Equity Conversion

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Tapping Your Retirement Accounts for Emergencies

We all know it’s important to have a savings account in case of an emergency.  The general rule of thumb states that you should save enough to cover 3-6 months’ worth of living expenses.  However, what if you’re nearing retirement? 

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Easy Ways to Save Money

If you’re nearing retirement, or are already there, you’re likely on a fixed budget.  Unless you planned well and saved plenty for your golden years, you may be running short on funds each month.  If that’s the case, it’s important

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Could You Benefit From a Second Reverse Mortgage?

There’s a misconception out there that a person can only be eligible for a reverse mortgage once in their lifetime.  However, this isn’t necessarily true.  Depending on your situation, you may have the need for a second reverse mortgage.  According

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In-Home Care Costs More Than You May Think

We all hope to be healthy and self-sufficient long into our golden years, but according to Tom McInerney, President and CEO of Genworth Financial, “…at least 70 percent of Americans over age 65 will need some form of long term

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Home Equity Could be the Answer for Cash Strapped Seniors

Many baby boomers are moving into retirement, but unfortunately many of them don’t have sufficient savings to meet their basic retirement needs.  The Employee Benefit Research Institute states that, “Boomers are woefully unprepared for retirement.  In order to meet their

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What to do in the Event of an Unexpected Retirement

You try to do your best to plan for retirement, but what do you do when you’re forced to retire early?  According to two new surveys, this happens more often than you might think.  “Research from Voya Financial says that

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Recent Study Shows High Satisfaction among Reverse Mortgage Borrowers

If you’re 62 or older and are looking for a way to supplement your income, a reverse mortgage may provide the extra funds you need to live a more comfortable retirement.  A Home Equity Conversion Mortgage (HECM), commonly known as

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How Can You Save Money On Your Mortgage?

Many Americans dream of home ownership, although this dream usually comes with substantial monthly mortgage payments as well.  For many folks, their mortgage is their biggest expense.  Unless you have the funds to pay your mortgage off all at once,

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Four Retirement Assumptions That Could Hurt You

There’s a lot of information out there about the “do’s and don’ts” of saving for retirement.  Most financial professionals would probably agree on some of the basics…for example, it’s important to start saving early and often.  However, with all the

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