Reverse Mortgage Blog

Deciding when to take a reverse mortgage.

May 10th, 2016 | Retirement Planning, Retirement security, Reverse Mortgage, HECM Reverse Mortgage, Seniors

Good article on Philly.com.  I agree that a normalization of interest rates will definitely adversely affect procrastinating borrowers with reverse mortgages.  They will look back and regret not taking advantage of the program when internal rates were at historical lows. However, I don’t see that as the biggest threat to the procrastinating clan, regardless of age.  The biggest threat I see is a crisis after retirement.  This could be financial or health related, either one that grows out of the absence of a plan or one that overwhelms an existing plan.  The smart retired homeowner will seek out a HECM reverse mortgage to neutralize debt today, but more importantly to provide an insurance back stop for their future that they control.  Personal financial control adds to security in retirement.  Home equity can be an important tool that can help provide this security for the future.  There is no race to use it, but a reverse mortgage is senior friendly and should be considered for your retirement plan. 

Read full article here: Deciding when to take a reverse mortgage

 

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.

 

Comments



Leave a Comment

Contact Us


Not readable? Change text.


Subscribe to Our Newsletter

Fields marked * are required
Email *
 

 

Facebook

 

Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

Testimonials

Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.