Mortgage Blog

Create your own Safe, Cost Effective Government-Insured Annuity today

When we hear the annuity pitch it starts out like this:  Put a lump sum down in your early fifties and when you turn 65 you will begin to receive monthly payments.  How much will I receive per month? Well that depends on the index, like the S & P 500 or which one you chose, and how much money you put down.  Then you have to read the fine print, park it on your kitchen table, and think about it.   Would an annuity be better than maybe buying ten blue chip dividend paying stocks and simply putting them aside and allowing them to grow over the same term?  Maybe an ...

July 18th, 2016 | supplemental retirement income, Retirement Planning, Seniors, reverse credit line, Reverse Mortgage, HECM Reverse Mortgage, Annuity, Government insured mortgage, lifetime income with a Reverse, Create your own Safe, Cost Effective Government-Insured Annuity today

10 things you should know about reverse mortgages

Nice article.  A lot of ground is covered regarding Reverse Mortgages but some key points have not been touched on that I think are important.  Although a Reverse Mortgage has a broad array of practical applications, it is always more beneficial if it augments an existing retirement plan.  Along these lines, I think it of paramount importance to point out that many retirees and seniors will not qualify for forward mortgages to refinance or home equity lines.  In addition, for those that do, it is also very important to point out that any mortgage that requires a monthly pay...

January 14th, 2016 | Retirement Planning, HECM Reverse Mortgage, Financial Planning, Reverse Mortgage, Seniors, supplemental retirement income, Sandwich Generation, Retirement security, Government insured mortgage, 10 things you should know about reverse mortgages

Reverse Mortgage Myths Busted!

Myth: "Property Ownership Exchange"Fact:  When a homeowner obtains a government insured HECM Reverse Mortgage on their home this in turn establishes a mechanism for home equity access that is much easier to qualify for than a traditional forward loan.  Many people, including advisors and realtors, have somehow been led to believe that this is a trade.  In other words, an easy qualifying non-recourse loan insured by the government in exchange for the government assuming ownership of the home.  This is completely false.  There is no such exchange and the  ...

December 9th, 2015 | HECM Reverse Mortgage, Retirement Planning, Reverse Mortgage, Government insured mortgage, home equity access, Seniors, supplemental retirement income, Reverse Mortgage Myths Busted!

How to use a reverse mortgage to protect your retirement income. Marketwatch Article Comment.

I agree that most people should consider establishing a HECM Reverse Mortgage credit line as early in life as possible. However, although I would support the idea of using a reverse credit line to protect retirement income, I am not convinced that it has practical application due to its complexity.  Having said that, I am familiar with the Sacks & Sacks research on this subject from 2012.  I have licensed it for redistribution, but again and again, I come back to what is realistic for my average 76 year old client for a Reverse Mortgage.  Simplicity and security is what they...

November 19th, 2015 | supplemental retirement income, Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Government insured mortgage, Financial Planning, reverse credit line, How to use a reverse mortgage to protect your retirement income. Marketwatch Article Comment.

Reverse mortgages: Useful retiree tool or bad move?

Great article.  I agree that a Reverse Mortgage is best used when it can augment an existing retirement plan.  However, in many cases where that may not be an option, there is still room for ample benefit.  I would also like to add some clarity on the growth of credit for retirees and seniors so it is more easily understood.  When a homeowner is in a position to utilize a reverse mortgage where they have a substantial amount of available home equity (“principal limit”) over and above any mandatory payoff items like existing mortgages, the credit line growth fact...

November 17th, 2015 | Financial Planning, Retirement Planning, Reverse Mortgage, Home Care, Government insured mortgage, Reverse mortgages: Useful retiree tool or bad move?

Effective March 2, 2015 - Financial Assessments Loom for the HECM Reverse Mortgage Program

**Update - The Federal Housing Administration (FHA) announced Thursday that it will delay the effective date to begin financial assessments for all reverse mortgage applicants due to technical issues.  They anticipate a delay of 30-60 days from original March 2, 2015 deadline.  President Reagan put the foundation in place for the government insured HECM Reverse Mortgage Program.  The mandate was to establish a path for retirees and seniors to have easy access to their home equity for their retirement years.  The program was established based on the borrower’s age...

February 5th, 2015 | Reverse Mortgage, HECM Reverse Mortgage, Government insured mortgage, Retirement Planning, Financial Assessments, Effective March 2, 2015 - Financial Assessments Loom for the HECM Reverse Mortgage Program

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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. 

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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.