VIDEO: What is a Reverse Mortgage? And why consider one now.
What is a reverse mortgage, really? The simple fact is that if you had a HECM, and you were to make payments each month like you do on your current mortgage, it would operate much like your current mortgage does....
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VIDEO: What We Know and Don’t Know About the Economy
Credit is tightening significantly, over 4 million homeowners have stopped making mortgage payments and some 40 million are un- or under-employed. So, what can you do to protect yourself going forward? ...
Continue reading full story users commented on this post-->Memo to Really Rich People: Just Shut Up.
Billionaire David Geffen completely humiliated himself last weekend when he decided to tell the world how he’s escaping to the Caribbean to avoid Covid-19. His Instagram post read: “Isolated in the Grenadines avoiding the virus. I’m hoping everybody is staying safe.” His statement was accompanied by a photo of where he...
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Why EVERY Attorney Needs to Know What HECM Means
I’ve had attorneys tell me that it’s not their job to know about such things, but I think that’s wrong. If your job is to solve problems then I think it is your responsibility to know about the tools that help solve problems in unique ways… and the HECM should...
Continue reading full story users commented on this post-->HELOCs are Bad for Older Homeowners. Better Options Exist
The PLOC costs about the same as the HELOC and the interest rates are competitive, so why would anyone considering a HELOC not choose the PLOC instead? There’s only one reason I can think of… they simply don’t know....
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Merrill Lynch Proves Clueless on Use of Home Equity in Retirement
The HECM program and other reverse mortgages are specifically designed for retirees looking to access their home’s equity. For Merrill Lynch not to mention the HECM alternative in an advisory bulletin about accessing home equity in retirement makes that bulletin incomplete at best… and bad advice, at worst....
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The HECM Mortgage is Controversial? Well, it shouldn’t be.
Everyone approaching or in retirement should know about the HECM program and how it might impact their retirement years. There’s absolutely nothing wrong with today’s HECM mortgages... no matter what you've heard in the past....
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Student loans missing chain of title paperwork being wiped out by courts
Student loans are another in a long line of predatory lending, securitization scams, but this time judges are dismissing suits in which creditors can't prove ownership of the loan....
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