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