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

What is a HECM?

A HECM is a Home Equity Conversion Mortgage, often referred to as a government insured Reverse Mortgage, that serves as a vehicle to help retirees and seniors access home equity from their homes in retirement. Home equity can be accessed in various ways depending on homeowner or family needs.  Lump sums at closing can be used to pay off existing forward mortgages. Credit lines, much like traditional home equity lines, can be established for convenience or emergencies.  A big difference that distinguishes a HECM Reverse credit line from a traditional home equity line is that there ...

May 6th, 2015 | Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, home equity access, lifetime income with a Reverse, supplemental retirement income, What is a HECM?

Reverse Mortgage - Play it Safe With Your Spouse

Eligibility for a Reverse Mortgage is based on your property value and the age of the youngest borrower. The older you are, the more eligibility you have to access your home equity. Reverse Mortgages are an attractive way for retirees and active adults to pay off mortgages, gain access to cash, and supplement their retirement income. However, the risk comes to bear when people get greedy. A classic example of risk would be for a couple to remove the younger spouse from the equation. Now we have a non-borrowing spouse. This will immediately allow for a higher level of eli...

July 3rd, 2014 | HECM Reverse Mortgage, supplemental retirement income, Reverse Mortgage, lifetime income with a Reverse, Reverse Mortgage - Play it Safe With Your Spouse

Reverse Mortgage - Essentially a Housing Put!

How many of you would have loved to have had an affordable means of effectively purchasing a Put Option on your primary residence insured by FHA, prior or even during the housing crisis? This is what a reverse mortgage provides for eligible homeowners. It's a very attractive form of diversification as well for people that have significant equity in their homes. It will allow you to liquefy a portion of your home equity and supplement retirement income at the same time while locking in your home value benefit level. What does this mean for an eligible home owner? If your property i...

April 23rd, 2014 | Retirement Planning, Reverse Mortgage, supplemental retirement income, HECM Reverse Mortgage, lifetime income with a Reverse, Reverse Mortgage - Essentially a Housing Put!

How to spot a Reverse Mortgage Candidate

We are all aware that the low interest rate environment has had devastating effects on seniors and retirees in general for many years. This is not something new but the recent trends, in conjunction with the devastation many retirees experienced with their investments, have compounded the problem. Seniors and retirees have not only been at a disadvantage supplementing income, they have also experienced loss of principle with no economical means of recovery. The story link below is an example of a typical senior that always put his family first only to find himself in an end of life financia...

December 2nd, 2013 | lifetime income with a Reverse, Retirement Planning, Reverse Mortgage, supplemental retirement income, How to spot a Reverse Mortgage Candidate

Regulation and Disclosure-Does it really protect our seniors with a Reverse Mortgage?

The mortgage market place has been heavily re-regulated since 2008 and for years we have relied on volumes of disclosures to guide and protect our borrowers.  Do you think for a moment that regulation prevents money motivated unscrupulous acts?  Further, as with our 11,000 page healthcare law everybody seems to be joking that no one knows what is in it. Regulation and disclosure appears to have overwhelmed us all and lost some of its purpose.  The same hold true with mortgage disclosures.  Do you really think anyone reads them?  Here is how a closing goes down at a tit...

August 1st, 2013 | Retirement Planning, Reverse Mortgage, lifetime income with a Reverse, Government insured mortgage, supplemental retirement income, Regulation and Disclosure-Does it really protect our seniors with a Reverse Mortgage?

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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.