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Saturday, December 14, 2019

Top uses for a reverse mortgage

By Alain Valles, CRMP, MBA, CSA You've heard the term “reverse mortgage,” but do you know how it works? A Home Equity Conversion Mortgage (HECM)...

Social Security and reverse mortgages

By Alain Valles, CRMP, MBA, CSA Is 62 the best time to start receiving Social Security? According to the Social Security Administration, you may start receiving...

Can a reverse mortgage solve the world’s problems?

Things that keep us up at night The ramifications on the world economy of Britain leaving the European Union, increasing tensions between China and Russia, a contentious Presidential election, terrorism, the ongoing Middle East crisis, and the global warming debate. All are examples of events that we have little control over but are causing tremendous concerns.

Reverse Mortgages: What’s the buzz?

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.

Reverse mortgages: It’s about time

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...

Reverse mortgage: A lifesaver

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.

The market rollercoaster stops here

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.

New year, new life!

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.

Will you be able to afford to ‘age in place’?

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.

What types of people get a reverse mortgage?

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...