Archive | Finance

Reverse mortgage rules are changing

By Alain Valles, CRMP, CSA, MBA For the past 25 years reverse mortgages have allowed hundreds of thousands of homeowners 62 years old or older to convert the equity they have in their homes into tax-free cash.  On Jan. 19, 2017, the Department of Housing and Urban Development (HUD) announced over 50 significant changes to […]

Read the full story

Posted in Reverse Mortgage0 Comments

Aging drills

By Marianne Delorey “Inaction breeds doubt and fear. Action breeds confidence and courage. If you want to conquer fear, do not sit home and think about it. Go out and get busy.”  — Dale Carnegie School children 50 years ago would practice bomb drills and hide under their desks. Twenty-five years ago, school children would […]

Read the full story

Posted in Housing Options0 Comments

Reverse mortgages: Do you have the answers?

If you are like many seniors you may wake up feeling financially stressed. Concern about having enough money, worry about a lingering home repair, or frustration with credit card or real estate tax payments can be a burden. Even worse is the fear of not having enough money if something should happen in the future.

Read the full story

Posted in Finance, Reverse Mortgage0 Comments

Do good. Then do better.

While in college I worked at a nursing home where I met Mary. Mary had severe dementia and was combative. One day while trying to bring her to the commode, she punched me. Hard. With both fists. In the kidneys. I saw stars.

Cathy was another resident who would lash out. Cathy did not honor social envelopes nor did she know when enough was enough. She would interrupt me without thinking and would talk for hours if left unchecked. Sometimes, if she felt she was being ignored, she would get in my face and say some pretty unkind things.

Read the full story

Posted in Housing Options0 Comments

Time to take a new look at reverse mortgages

By Alain Valles Since 1987, reverse mortgages, also known as Home Equity Conversion Mortgages (HECMs), have been a viable option for hundreds of thousands of qualified homeowners aged 62 and older. Over the past several years there have been many changes made to the program in order to better protect borrowers, with the intent of […]

Read the full story

Posted in Finance0 Comments

Not your typical rags to riches story

By Marianne Delorey Each industry has their own way of showing off their accomplishments to the world.  The armed forces gives out medals, the music industry gives out Grammys.  Affordable housing has victories, but often, the stories do not wrap up into a pretty little package, which makes it harder to show others the pride […]

Read the full story

Posted in Housing Options0 Comments