Wednesday 4th December
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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)
The Single Best Tool for Downsizing in Retirement is Called: HECM-for-Purchase
Written on 9 Sep, 2016 at 19:28
There's no better tool for downsizing in retirement than the HECM for Purchase, a mortgage insured by the FHA. So why do so few homeowners and/or Realtors know anything about it? ... (Continue reading)
A Reverse Mortgage Ruined His Life? Nonsense. Not true.
Written on 4 Aug, 2016 at 17:08
The reverse mortgage didn't cause Mr. Feil any harm. In fact, it's because of the HECM reverse mortgage that Mr. Feil was able to keep the home instead of losing it to foreclosure.... (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)
Counting on Working Past 65 is Statistically, Being Overconfident
Written on 29 May, 2015 at 20:35
The point is... if the HECM reverse mortgage for purchase makes sense for you then there are some major advantages to using it during your retirement years. If it doesn't, then don't do it. But, know the facts... (Continue reading)
Want to Know What I Just Heard About Reverse Mortgages?
Written on 6 Nov, 2014 at 5:21
"I heard they cost $112,000." I'm dumbfounded at how many talk about a reverse mortgage without mentioning that they don't know what they're talking about. ... (Continue reading)
Use a Reverse Mortgage to Prevent Foreclosure and to Leave Your Home to the Kids Free and Clear
Written on 19 Aug, 2014 at 19:09
In fact, by doing it with a HECM mortgage, you increase your chances of being able to leave your home to your kids free and clear because you've eliminated the risk that you'll end up in foreclosure because you couldn't... (Continue reading)
Why the Media Misinforming Seniors on Reverse Mortgages is Wrong and Even Dangerous
Written on 14 Aug, 2014 at 8:28
And reverse mortgages keep homes safe from foreclosure, and millions of seniors have lost homes from foreclosure over the last five years. Many were denied loan modifications because they had equity in their homes. I can't help but... (Continue reading)
Even with $2 million in the bank, you should still have a reverse mortgage
Written on 5 Aug, 2014 at 4:17
Having saved $2 million in your retirement nest egg is a wonderful accomplishment, and if you've done so, you are to be commended. But, it does not mean that you have nothing to worry about when facing what could... (Continue reading)
HUD to Resolve Key Reverse Mortgage Issues Going Forward
Written on 2 Jun, 2014 at 8:36
How would you like to find out that no one had told you that you had easy access to several hundred thousand dollars, and so not knowing, you made other plans that you didn't want to make and wouldn't have... (Continue reading)
HUD Revises the Rules Related to Reverse Mortgages
Written on 12 Sep, 2013 at 5:33
HUD's new rules related to reverse mortgages are just a part of those changes made in the wake of the financial crisis and resulting economic meltdown, and in fact, relative to changes made that affect other areas of mortgage finance,... (Continue reading)
Illinois Attorney Saves Homes from Foreclosure Using Reverse Mortgages
Written on 25 Jun, 2013 at 21:08
Reverse mortgages are not going to be an available path for many homeowners facing foreclosure, but for those 62 and older... who have equity in their homes... they can offer an answer and benefits that no other path can provide...... (Continue reading)
GUEST POST: President Obama, please don’t let them take Grandma’s house!
Written on 17 Jun, 2011 at 21:00
A Guest Post by Chicago attorney, Rick Rogers of Rogers Law Group. Rick and I met last year when we attended Max Gardner's Boot Camp in North Carolina last year; we actually shared the Riverview Cabin on Max's ranch... (Continue reading)