Mortgage Blog

Exploring the Labyrinth of Funding and Planning for Care

The most prevalent type of care that most of us will face for ourselves and our families will most likely be related to various forms of in-home care.  This has become the most preferred and cost efficient means of care, ranging from basic companionship to highly skilled care. As we benefit from the technological age, we may also discover that longevity is not free.  With longevity, comes the need for care and a solution for how to pay and plan for care.The first topic on the radar that usually presents itself when addressing the need to fund care is long term care insurance.  T...

July 10th, 2017 | Home Care, Long Term Care, HECM Reverse Mortgage, Senior Care, Exploring the Labyrinth of Funding and Planning for Care

Consider the Alternatives to Expensive LTC Policies

I completely agree with the authors opinion on long term care policies. After doing significant research for myself I determined that the monthly and up front lump sum long term care policies were not for me.  There are simply too many variables out of your control that can cause your premiums to skyrocket leaving you holding the bag.  Alternatively, a government insured reverse mortgage, known commonly as a HECM, will provide a growing credit line that will provide eligible borrowers a much more cost effective and flexible means of providing a financial backstop in the event care is...

June 15th, 2017 | HECM Reverse Mortgage, Reverse Mortgage, Long Term Care, growth factor, Consider the Alternatives to Expensive LTC Policies

The retirement issue that no one is talking about

Funding care is an important topic.  A great way to address the care related issues of aging while allowing seniors to maintain their privacy and independence is to consider the addition of a Reverse Mortgage.  Paying off forward mortgages, home equity lines, and high cost credit cards frees up money each month for living expenses and care.  The importance of discussions with family should revolve around a plan for care and managing assets and income for such needs.  It is not wise to avoid the subject only to circle back to  this issue after a crisis has developed.&nb...

December 13th, 2016 | Reverse Mortgage, Retirement Planning, home equity access, Home Care, HECM Reverse Mortgage, Seniors, Long Term Care, Medicare , supplemental retirement income, Age in Place, The retirement issue that no one is talking about

9 surprising ways to use a Reverse Mortgage

I've talked about all of these uses of Reverse Mortgages over time in my blog....from the obvious paying off mortgages to delaying social security,  or buying a new home with a reverse mortgage, . Only one I haven't been exposed to is the "Gray Divorce Strategy'. Good article from Investment News.  See our Practical Applications page for the many uses of 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/C...

June 24th, 2016 | supplemental retirement income, Social Security, Retirement Planning, Reverse to Purchase Mortgage, HECM Reverse Mortgage, Long Term Care, Financial Planning, HECM for Purchase, 9 surprising ways to use a Reverse Mortgage

How to Pay for Assisted Living and In-Home Care

Nice article as a general overview. I would like to offer some more specific commentary on Reverse Mortgages as they relate to helping pay for in-home care. A Reverse Mortgage is suitable for homeowners 62 and above that have equity in their homes. Reverse Mortgages are government insured loans specially designed for seniors with no monthly forward mortgage payments required. In the instance where a homeowner has a mortgage and/or other debt, a Reverse Mortgage is an ideal instrument that can be deployed to manage and help balance monthly cash flow. It’s nothing more than paying attentio...

January 12th, 2016 | reverse credit line, Long Term Care, HECM Reverse Mortgage, Retirement security, Reverse Mortgage, Home Care, assisted living, How to Pay for Assisted Living and In-Home Care

October Beacon Article Mention - Hear what our clients have to say.

Check out the October issue of the Beacon and hear what some of our clients have to say. http://issuu.com/thebeaconnewspapers/docs/oct15dcbeacon/43?e=1984404/30449816 Would love to hear from you if you or a loved one are in a similar situation.     George H. Omilan President-CEO - NMLS# 873983 Jefferson Mortgage Group LLC Helping seniors with Reverse Mortgages in Virginia, Maryland and Pennsylvania. Questions/Comments encouraged.

October 20th, 2015 | Retirement Planning, HECM Reverse Mortgage, Financial Planning, Reverse Mortgage, Long Term Care, October Beacon Article Mention - Hear what our clients have to say.

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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.