QUESTIONS?

CALL US: 703-319-2198


Can a reverse mortgage replace a pension?

Published on Feb 02, 2016 | Retirement Planning supplemental retirement income HECM Reverse Mortgage Financial Planning reverse credit line

Good article below. A diversified base of income in retirement is important.  The three legged stool analogy is a great illustration for balance.  Why be dependent just on one or two sources of income and potentially worry? This is the insecurity over money that they say we will all one day experience.  Its best for us to control this rather than allowing it to control us.  A Reverse Mortgage can provide two very critical benefits in this area. First, it can provide immediate monthly cash flow balance for those with mortgages by eliminating the forward mortgage payments (Principal & interest).  This frees up more cash for living and reduces required payments each month.  Secondly, any residual available equity can be configured with a reverse mortgage credit line that will grow annually.  This can provide supplementary funds as needed or simply be reserved for emergencies.  In summary, three legs to a retirement income strategy is much better than only one or two.  A HECM Reverse Mortgage can help achieve this goal.  

Read the full Bankrate article here.  
 

George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Helping seniors with Reverse Mortgages in Virginia, Maryland, DC and Pennsylvania.

Questions/Comments encouraged.

 

 

Recent Posts

Blog Tags

Reverse Mortgage HECM Reverse Mortgage Retirement Planning supplemental retirement income Seniors Retirement security Financial Planning Short Sales Age in Place lifetime income with a Reverse Traditional Mortgage Home Care Government insured mortgage Jumbo Reverse Mortgage Retirement income insecurity HECM for Purchase solutions for underwater properties home equity access Long Term Care reverse credit line Social Security Eligibility for Reverse Mortgage Annuity Financial Assessments forgiven mortgage debt mortgage Inflation Specialized Forward Mortgages Mortgage Loan Process Investor Loans mortgage debt forgiveness act Real Estate Investment Loans foreclosure cashflow Debt Mitigation FHA private label reverse mortgage Non QM 55+ Reverse to Purchase Mortgage Loan modification self-employed borrower VA LOAN HUD Housing Market investor financing No Doc Investor Loans VA Low Score Real Estate Market Jefferson Mortgage Group bank statement loan QM HECM Changes Interest Rates High-Value Homes LESA Medicare Mortgage Rates Sandwich Generation growth factor downsizing HELOC Construction Loan Fed Real Estate Economy 2023 changes Lending Limit increase DSCR 2025 changes Hard Money Loan Non-recourse loan modify your loan with your lender mortgage debt relief act Mortgage Deliquency Business Cash-flow Fiscal Cliff Senior Advocate HECM to Purchase mortgage debt Low Credit Score Reverse Mortgage Eligibility manual underwrite bankruptcy MIP Unrestricted Approval Trump Principal Limit Factor success story Debt Treasury DSCR Commercial Real Estate 2021 Changes Property-based loan occupancy requirements Residual Income Asset Qualifer FINRA Housing Prices ATR Rule assisted living LLC OBBBA Asset Based Mortgage Seller Contribution Jumbo Reverse Second Trust Blanket Loan Estate Plan Senior Care Diversification Credit Score down to 500 Second Trust Gray Divorce Jumbo Mortgage Loan Rentership Non-Qualifying Loan Second Trust Prequalification