Mortgage Blog

Reverse Mortgages and Social Security

Recently, there has been a lot of hype over the suggested strategy to utilize a government insured Reverse Mortgage to provide for more benefits over a lifetime with Social Security.  I do not claim to know the exact reasoning or motivation behind the adverse claims made by the Consumer Financial Protection Board (CFPB) regarding this issue, but the agency feels that using a Reverse to maximize Social Security benefits is too expensive.  I feel that this is a bit of a myopic view given the broad practical applications of the program but would certainly agree if this was the only...

December 12th, 2017 | Social Security, Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, supplemental retirement income, Reverse Mortgages and Social Security

5 ways a reverse mortgage can help your retirement

Nice article on some of the basics of a Reverse Mortgage.  I would like to add that one of the key components of any strategy involving a Reverse Mortgage is balancing and keeping debt in control.  Debt, such as mortgage payments and credit cards that get out of control have a tendency to sap a retirees monthly fixed income and throw their retirement plan into turmoil.  Once you have achieved balance with your debt and income you can then focus on the savings and investment benefits.  For example, the  current growth rate that compounds annually on the untapped portion...

October 28th, 2016 | Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Social Security, Retirement security, supplemental retirement income, 5 ways a reverse mortgage can help your retirement

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

Don't make this gigantic Social Security mistake - CNBC Article

Terrific article that takes into account Social Security and waiting to maximize your benefits as a cost effective form of longevity insurance. Given people are living much longer than expected, this is an innovative approach aimed at maximizing benefits that should grab the public’s attention. A HECM Reverse Mortgage can help those with mortgages and debts with decreased payments and more available funds for living expenses, and in some cases additional supplementary income, to help achieve this strategy. As noted in the article, it is the clearly the cheapest form of a true guarantee a...

June 9th, 2016 | Social Security, Seniors, Reverse Mortgage, Retirement Planning, supplemental retirement income, HECM Reverse Mortgage, Don't make this gigantic Social Security mistake - CNBC Article

Could Getting a Reverse Mortgage Help You Save Money? NBC News Video

Changes to the HECM reverse mortgage have made it very safe.  However, it is much harder to get and not everyone will be eligible, but for those that do qualify, it can be a terrific way to augment your retirement plan.    George H. Omilan President-CEO - NMLS# 873983 Jefferson Mortgage Group LLC Located in Fairfax County, helping seniors with Reverse Mortgages in Virginia, Maryland, DC and Pennsylvania.Questions/Comments encouraged.

May 2nd, 2016 | Retirement Planning, Retirement security, Social Security, Seniors, HECM Reverse Mortgage, Reverse Mortgage, supplemental retirement income, Could Getting a Reverse Mortgage Help You Save Money? NBC News Video

Simplicity versus Complexity with a Reverse Mortgage

A Home Equity Conversion Mortgage, or otherwise referred to as a HECM Reverse Mortgage, is considered a complex loan program.  Fiduciaries and industry professionals across the board often get swept away with homeowners as they attempt to grasp a general understanding of the program.  This usually ends in frustration and confusion as everyone attempts to understand the loan program on the basis of what we are already familiar with, a traditional forward mortgage.  The program is actually not that hard to understand, provided you start by focusing on its purpose.  The Revers...

February 8th, 2016 | Reverse Mortgage, HECM Reverse Mortgage, Retirement security, supplemental retirement income, Social Security, Seniors, Retirement Planning, Financial Planning, Simplicity versus Complexity 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.