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)
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)
The Reverse Mortgage Industry is Lost. (Here’s why.)
Written on 10 Oct, 2018 at 18:18
If you want to be successful in the reverse mortgage space going forward, you have to learn to operate effectively with trusted advisors to build networks of referral partners... like we've done for three years.... (Continue reading)
For HECM Professionals… An Invitation to Attend a Day of HECM Power Training.
Written on 15 Apr, 2018 at 16:42
Make the investment in your career that will make that career much more productive, profitable and satisfying. Learn to implement real strategies and tactics that are being used successfully every day with trusted advisors and homeowners in the field.... (Continue reading)
The HECM Mortgage is Controversial? Well, it shouldn’t be.
Written on 19 Feb, 2018 at 22:51
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.... (Continue reading)
The Media Continues to Get it Wrong on Reverse Mortgages
Written on 4 Oct, 2016 at 1:49
No one should write about a HECM reverse mortgage as being good or bad, because it depends on so many variables... and 94% of homeowners with a HECM say it gave them peace of mind.... (Continue reading)
How a HECM Reverse Mortgage Saved a Homeowner Over $200,000
Written on 9 Sep, 2016 at 1:03
Homeowners with significant amounts in their retirement accounts can often benefit from using the HECM because it's a tax free source of funds.... (Continue reading)
FINALLY… Time Magazine Realizes New Reverse Mortgages May be a Good Idea
Written on 4 Apr, 2016 at 16:47
My point is that Kadlec does a decent job writing about the new HECM reverse mortgage... not a great job, but one that's better than most. And that's encouraging.... (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)
Mandelman’s Best Home Buying Advice for 2015 and Beyond
Written on 18 Jun, 2015 at 16:43
There are three ways to increase the equity in a home you own. Two are within a homeowner's control and one is not. And if you're over 62, for heaven's sake, downsize and hold onto your cash for... (Continue reading)
More Consumers Confused by Role of CFPB than Reverse Mortgage Ads
Written on 17 Jun, 2015 at 13:08
The Consumer Financial Protection Bureau (CFPB) recently conducted a focus group at which they showed reverse mortgage ads, concluding the ads are misleading... but, so what? ... (Continue reading)
Bank of America Report: Housing to Start 3-Year Price Decline in 2017
Written on 4 Jun, 2015 at 20:52
A Bank of America analyst has published a report predicting the U.S. housing market will experience "three straight years of "modest" declines starting in 2017.... (Continue reading)
Leave Octogenarians at Home – Stop Evictions after 80.
Written on 10 Apr, 2015 at 5:17
Over the last few weeks I've learned that we're a country that actually doesn't care about people in their 80s that run into financial difficulties. In fact... and as incredible as it may seem, WE EVICT THEM.... (Continue reading)
How & Why I Fell in Love with the Reverse Mortgage
Written on 21 Feb, 2015 at 0:05
Nothing else does what a reverse mortgage does. There's no real alternative because any other type of home equity loan would require you to make monthly payments, and you can't retire with high monthly payments or you could end up... (Continue reading)
Motley Fool’s 10 Reasons Not to Get Reverse Mortgage is So Wrong… but Some Right
Written on 17 Feb, 2015 at 16:23
Yet another example of shoddy reporting on reverse mortgages. Some of what Bennett writes is correct, but much of it is slanted and the rest is just plain wrong.... (Continue reading)
‘Twas the Night Before Christmas – 2014 (A Political & Social Year-in-Review)
Written on 19 Jan, 2015 at 4:29
Yes... usually, I post my annual political and social year-in-review poem (read to "Twas the Night Before Christmas") on the actual night before Christmas, but although I wrote it on December 24th... here I am posting it on January 18th.... (Continue reading)
REALITY CHECK: “Reverse Mortgage Realities” According to The New York Times
Written on 29 Nov, 2014 at 8:46
The latest example of bad information on reverse mortgages is by Lisa Prevost, The New York Times, who promises to present "realities of reverse mortgages." And then doesn't.... (Continue reading)
Exceptional Insight of Barry Sacks, Esq. on Reverse Mortgages – A Mandelman Matters Podcast
Written on 14 Nov, 2014 at 19:51
Do you think you already know enough about reverse mortgages? Well, I promise... you don't. Listen to this and learn things you can't learn anywhere else. ... (Continue reading)
How and Why Congress Changed the Reverse Mortgage in 2008
Written on 7 Nov, 2014 at 5:13
Congress recognized the important role that reverse mortgages play so in HERA they offered greater protections and increased utility to homeowners.... (Continue reading)
Views on Reverse Mortgages from Around the World
Written on 1 Nov, 2014 at 18:15
It’s utterly amazing how this country has managed to adopt such a warped view of reverse mortgages. Somehow, we’ve managed to take a government insured mortgage that doesn’t require monthly payments and turn it into a bad thing. It... (Continue reading)
LATE START STRATEGY: Creating retirement income to last a lifetime… even if you haven’t saved a nickel.
Written on 28 Oct, 2014 at 17:44
Is it even possible to be financially prepared for thirty years of living without getting a paycheck from work? The answer is simple: INCOME. And even without savings it can be done.... (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)
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)
Was it worth it? Yeah, to me it definitely was. (For you maybe the reverse is true.)
Written on 8 Aug, 2014 at 5:47
If you switch your traditional mortgage to a reverse mortgage and you miss a payment, no one cares... if you miss three payments, no one cares... want to take the whole year off and make no mortgage payments... perfectly fine...... (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)
Tampa Bay Times: Stop Lying to My 78 Year-Old Mother!
Written on 4 Jun, 2014 at 15:12
Doesn't anyone think it's bad form to misinform senior citizens... to scare older Americans away from a source of money that could easily be a couple hundred thousand dollars or more by feeding them inaccurate and misleading garbage disguised as... (Continue reading)
What’s WRONG with Richard Cordray of the CFPB? Tell Me How Can This Happen?
Written on 23 May, 2014 at 18:15
So, why does Cordray make it sound like he's describing a problem with reverse mortgages when he's actually not? Why is he scaring seniors away from a reverse mortgage, when it could transform their lives, or save their homes,... (Continue reading)
Who Doesn’t Need a Back-Up Plan for a Secure Retirement?
Written on 7 Jan, 2014 at 14:55
Maybe the wealthiest retirees can get by without taking out a reverse mortgage as a way to protect their financial futures, but for the rest of us... not having funds from a reverse mortgage available is what's risky. And... (Continue reading)
Interview with Renee Gabbard, Esq: Retirement is harder for WOMEN than MEN
Written on 10 Sep, 2013 at 18:40
On this 30 minute podcast, we will say the things that need to be said, candidly discussing the retirement and estate planning issues that are unique to women... and that if ignored for too long, can cause women to endure... (Continue reading)
Understanding Reverse Mortgages Matters – A Podcast with Impac’s Richard Johnson
Written on 4 Sep, 2013 at 15:06
In the past, reverse mortgages were seen as something only to be used as a last resort. But, in the past we had more options for borrowing money. ... (Continue reading)
Reverse Mortgage Nightmares Should Never Happen – Top 10 Misconceptions About Reverse Mortgages
Written on 2 Aug, 2013 at 21:08
I've learned that the reverse mortgage is one of those products that isn't well understood at least as often as it is. Ask anyone what they think about reverse mortgages, and you'll get answers from one end of the... (Continue reading)
Creative Uses for Reverse Mortgages… That You’ve Probably Never Considered
Written on 16 Jul, 2013 at 4:07
I can't think of anything that's anything like a reverse mortgage. And the more I think about how they work and can be structured, the more uses for them come to mind. For example, one of the best... (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)