After June 30, 2023, the 1-month and 1-year LIBOR indices will no longer be published. Therefore, existing borrowers with LIBOR-based loans must be notified, prior to their next rate adjustment, that the variable portion of their interest rate will be tied to an alternate index. What can you tell me about the LIBOR Transition?The most […]
Rates Rise and the HECM line of credit can too!
Although the Federal Reserve again raised the short-term interest rate yesterday May 4, 2022, the impact on a reverse mortgage loan is both positive and negative. As interest rates increase, the amount that you qualify to receive at application from the reverse mortgage decreases. However, your current loan balance which needs to be paid off […]
Tips to Help Adult Children Talk to Aging Parents About Retirement
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 […]
Completely False Myths About Reverse Mortgages That Need to Be Debunked
Are you a senior or retired individual older than 62 who is looking to supplement your retirement income? If so, you may have heard about a unique financial product known as a reverse mortgage. In today’s blog post we will explore three myths about reverse mortgages and share why they need to be debunked. Myth […]
Understanding Due and Payable Timelines
This article was written by Chris Clow on Jan 24th, 2021. Here is the source for the article: https://reversemortgagedaily.com/2021/01/24/why-clarity-is-key-for-reverse-mortgage-post-death-issues/?utm_source=Reverse+Mortgage+Daily Death is always a disruptive occurrence, and in the realm of financial planning, it can be a critical point at which surviving heirs need to make some key decisions regarding the fate of a decedent’s estate […]
