There are many homeowners on a fixed income once they reach a certain age, however, their expenses are not always fixed costs. Sometimes, there is a large medical expense or the need for a new car or a home repair. In the event that someone needs cash flow, and they are 62 or older one […]
You’re brushing your teeth and you turn on the faucet. It’s not draining and starts to back up.Here’s the dilemma; do you spit and let it sit or run to the kitchen? One thing is for sure; having a clogged drain can be a major annoyance.
The misconceptions about loan repayment were far and wide before reverse mortgages became regulated and federally insured financial tools. The lender does not get the home, take title to the home, or own the home or its equity in any way. A homeowner or heir can sell the home ( that has a reverse mortgage […]
Every home should maintain a ready, working emergency kit for when disaster strikes. Here is what to do.
What will my children or heirs think about a reverse mortgage? Below are a few questions to consider while you evaluate your interest in a HECM loan. Do they want to inherit the maximum equity from your home OR do they want you to enjoy the most income possible today? Do they want you to […]
Homeowner’s insurance is an incredibly valuable and beneficial policy for homeowners to have, but it is necessary to understand what traditional policies do and do not cover.
YES! FHA guarantees that the borrower can never owe more than the home is worth at the time it is sold. This is a non-recourse loan! This is one of the most powerful aspects of a reverse mortgage. FHA Guarantees that neither the borrower nor the heirs will owe more than the home is worth […]
Are you still using a key to unlock your door and twisting a dial on the wall to set the temperature? Home automation technology has made considerable strides in the past couple of years, so it might be time to invest. In today’s blog post we will explore three tips that can help those looking to make the leap into a fully automated home.
How does a reverse mortgage work, and when is it appropriate for a homeowner to get one? Here is what you need to know. What is a Reverse Mortgage? In short, a reverse mortgage is a type of home loan secured by a primary residence, where repayment is deferred to a later date – generally […]
Aging baby boomers and their adult children often find it difficult to engage in meaningful family conversations about parental retirement plans. Sensitive topics like housing, finances, health status, and the ability to continue driving are a few topics that can trigger strong emotional responses. Kiplinger.com recently published an article on this topic titled, “10 Ways […]