Wednesday 4th December
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Why EVERY Attorney Needs to Know What HECM Means
Written on 11 Feb, 2020 at 15:39
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... (Continue reading)
HELOCs are Bad for Older Homeowners. Better Options Exist
Written on 5 Feb, 2020 at 17:08
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.... (Continue reading)
Merrill Lynch Proves Clueless on Use of Home Equity in Retirement
Written on 3 Dec, 2019 at 15:06
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... (Continue reading)
Why Foreclosures Won’t Be Stopping Anytime Soon
Written on 12 Mar, 2016 at 19:02
The reason foreclosures won't stop is that life events won't stop happening, and we're no longer able to borrow our way out of trouble.... (Continue reading)
Okay, so tell me why everyone who can doesn’t use a reverse mortgage this way.
Written on 15 Feb, 2016 at 22:16
Who wouldn't want a line of credit that's guaranteed to increase every year even if the home's value remains flat or goes down. Nothing does what the HECM Line of Credit does.... (Continue reading)
Are You Overestimating Your Ability to Access Your Own Money in Retirement?
Written on 15 Feb, 2016 at 9:14
I've found that most homeowners are dramatically overestimating their ability to pay off mortgages in retirement and/or access the equity in their homes once retired.... (Continue reading)
Future SHOCK for Older Homeowners: You Won’t Get a HELOC, a Second, or Refi based on your Equity
Written on 15 Oct, 2014 at 23:54
If you're over 62, you have to ask yourself what you'd do in the event your income dropped or your expenses rose unexpectedly? You could tap your savings, but that's not something you want to do because spending your nest... (Continue reading)