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Jumbo Reverse Mortgage Option
Low interest rates have, in one perspective, liberated older homeowners by giving them many choices to stay in their family homes with Jumbo Reverse Mortgages. Some of the choices may include paying off existing mortgages and other debt, adding liquidity, or simply supplementing income for monthly expenses. The Jumbo programs initially came out in 2014 but frankly were not very consumer friendly or attractively priced at that time for consumers. However, lower interest rates and general competition with government reverse mortgage programs have paved the way for more flexible guide...
October 16th, 2019 | Jumbo Reverse Mortgage, Age in Place, supplemental retirement income, downsizing, Jumbo Reverse Mortgage Option
Leverage in Downsizing
As we enter the New Year, planning is on the minds of most people, especially those that are retired or considering retirement. A popular decision that often yields a big payoff is the downsizing your home for retirement. There comes a point where the large home may no longer make sense given all the unneeded space, rising real estate taxes, and general costs. There are two effective ways to downsize a home.The first is the traditional binary approach. This entails selling your current larger home and taking the net proceeds and plowing them into a smaller home that is ...
January 6th, 2017 | Retirement Planning, Reverse Mortgage, HECM for Purchase, Seniors, Age in Place, downsizing, Leverage in Downsizing
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