QUESTIONS?

CALL US: 703-319-2198


Cash-strapped seniors: Weigh reverse-mortgage pros, cons

Published on Apr 21, 2017 | Reverse Mortgage Retirement Planning HECM Reverse Mortgage Seniors Retirement security

This is a great article illustrating many aspects of how a Reverse Mortgage can be a terrific retirement tool as long as you are not flagrant with your money. If you use it for financial balance and create cash flow for monthly living expenses so you can live more comfortably within your means, then it can help provide a nice path to a more secure retirement.  There are also tremendous benefits, not mentioned, that will protect your spouse after your passing and many aspects of the non-recourse loan that will insulate your heirs and your estate from losses on the home should outlive your home equity. Careful planners and people with longevity often win nicely over time with the addition of a government insured Reverse Mortgage to their retirement plan.

Click here to read the full article on CNBC

George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC
Located in Fairfax County - 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 Government insured mortgage lifetime income with a Reverse Traditional Mortgage Home Care Retirement income insecurity HECM for Purchase Long Term Care Jumbo Reverse Mortgage solutions for underwater properties home equity access reverse credit line Social Security Annuity Financial Assessments forgiven mortgage debt mortgage Inflation Eligibility for Reverse Mortgage Specialized Forward Mortgages Mortgage Loan Process Debt Mitigation FHA 55+ mortgage debt forgiveness act foreclosure cashflow VA LOAN private label reverse mortgage Non QM HUD Reverse to Purchase Mortgage Loan modification Investor Loans Real Estate Investment Loans self-employed borrower Jefferson Mortgage Group bank statement loan Housing Market investor financing No Doc Investor Loans VA Low Score Real Estate Market QM HECM Changes Interest Rates High-Value Homes LESA Medicare Mortgage Rates Sandwich Generation Low Credit Score Reverse Mortgage Eligibility manual underwrite 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 Estate Plan Senior Care Diversification Credit Score down to 500 Second Trust Gray Divorce Jumbo Mortgage Loan Rentership bankruptcy MIP Unrestricted Approval Trump Principal Limit Factor success story Debt Treasury Commercial Real Estate 2021 Changes Property-based loan occupancy requirements Asset Qualifer FINRA Housing Prices ATR Rule assisted living LLC Asset Based Mortgage Seller Contribution Jumbo Reverse Second Trust Blanket Loan Second Trust Prequalification Non-Qualifying Loan