Finance

Reverse mortgages have helped tens of thousands of older homeowners avoid serious financial difficulties by converting illiquid home equity into available tax-free cash. Recent changes in this government-insured loan program have helped to significantly reduce the cost while also strengthening protection for the borrower.

If you are like many Americans, some or all of your retirement income is tied up in the stock market. Perhaps you own stock directly, or participate in a mutual fund, or an annuity, or have invested in a 401(k) or company pension plan. So you probably pay attention to how the market is doing, hoping that your savings will be protected and – hopefully – continue to grow.

We all know the stereotype of a "senior" - a weary, grumpy “old person.” But, like all generalities, this image of a "senior" is far from accurate. Today’s seniors are active, engaged and filled with a desire to get the most out of life. They have worked hard for many years to earn a living, buy a home, and raise a family. Now they are eager to turn to the next chapter and enjoy the rewards of retirement.

I love my home. It is familiar, cozy and the place where I feel most secure and comfortable. I never want to leave. In fact, few people are eager to make a change in where they live, even as they grow older and their needs change. Studies have shown that 90 percent of adults over the age of 65 would prefer to stay in their current residence as they age.

By Alain Valles, CRMP, President- Direct Finance Corp. Let's play a little game. The next time you attend a high school class reunion, visit your...

The gravy is steaming next to the savory stuffing and sweet potatoes. There are four types of pie for dessert — pumpkin, apple, sweet potato, and pecan. Every family has its own unique Thanksgiving dinner traditions but, as we all know, a carefully followed recipe is key to creating a perfect holiday meal. If you fail to plan, or measure your ingredients poorly, your pie could be a real flop. The same can be said for financial planning and preparing for your future.

A tough choice for senior homeowners By Alain Valles, CRMP Should you stay in your own home? Or would you be better off financially to sell...

By Alain Valles CRMP, MBA, CSA The prospect of living out one's life in the "golden years" has lost its glow. Wild stock market swings and a...

By Alain Valles, CRMP, MBA, CSA A Home Equity Conversion Mortgage (HECM) – often called a reverse mortgage - is a federally insured loan program that...

By Alain Valles, MBA, CRMP, CSA Home Equity Conversion Mortgages (HECM), more commonly known as reverse mortgages, were authorized by President Ronald Reagan in 1987 and...