Reverse Mortgage

By Alain Valles, CRMP, MBA, CSA The Greek philosopher Heraclitus said, “Change is the only constant in life.” Time has shown this to be true. The...

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.

By Alain Valles, CRMP, CSA, MS, MBA Nonprofit Charitable Managing Director Stock market uncertainty and rising interest rates Ouch!  Stock market gains can be wiped out in...

Real estate values continue to increase but so do major living expenses. Does it make more sense to downsize or figure out a plan to remain financially independent at home?  It reminds me of the old Clash song - “Should I stay or should I go?”

By Alain Valles, CRMP, CSA, MS, MBA (Photo Alain Valles, Photo submitted) You are invited to ask the questions. No question is too trivial or...

By Alain Valles, CRMP, CSA, MS, MBA (Photo Alain Valles, Photo submitted) Many have heard the words “reverse mortgage,” but few have a clear understanding of...

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, CSA, MS, MBA, Nonprofit Managing Director My wife recently asked me what is my biggest fear?  She was surprised to hear...

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 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?”