Finance

Reverse mortgages are a unique, government insured loan program that allows eligible homeowners 62 years old or older to access their home equity for immediate cash, a line of credit, a monthly check, or a combination of the three. In all cases, the homeowner has the right to never again make a monthly mortgage payment, as long as the real estate taxes and insurance are paid and other requirements are met.

Many of us hold on to an idyllic vision of our golden years, imagining we’ll be in good health and living self-sufficiently in our own home.

By Alain Valles Over the past 25 years hundreds of thousands of homeowners age 62 years or older have converted the equity in their home...

The fear of ending up poor or even running out of money in retirement still gnaws at many women in particular.

By Alain Valles, CRMP Reverse mortgages often conjure dire outcomes. But the facts are just the opposite. With changes to the government-insured loan program, formally...

Money managers say take a breath — downturns could offer opportunities to strengthen your retirement savings for the long run.

By Alain Valles, CRMP, CSA, MS, MBA, Nonprofit Charitable Managing Director   Information you can trust   As Managing Director of the nonprofit charitable mortgage company, Helping Hands...

I was recently at a local charity event and invariably people asked what I do? My answer is always “I save financial lives by educating people about reverse mortgages and, when appropriated, arrange them.” That’s usually followed by a polite sigh and then the person stating: “Aren’t those bad? Doesn’t the person lose their home to the bank or government? Don’t the kids lose their inheritance? Don’t you have to have no mortgage? Isn’t a reverse mortgage a last resort?” In other words, they’re really asking “Aren’t you just taking advantage of old people?”

In retirement, your paycheck might go away, but taxes won’t. Still your tax bill can be hard to predict. To have some control over how much you pay the government each year, you should have both taxable and non-taxable accounts from which to draw your retirement income.

By R. R. Fletcher, Contributing Writer REGION - Americans spend roughly $190 billion per year on their care recipients for out-of-pocket expenses. Closer to home, according to AARP, over...