Mortgage Blog

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

Can a reverse mortgage replace a pension?

Good article below. A diversified base of income in retirement is important.  The three legged stool analogy is a great illustration for balance.  Why be dependent just on one or two sources of income and potentially worry? This is the insecurity over money that they say we will all one day experience.  Its best for us to control this rather than allowing it to control us.  A Reverse Mortgage can provide two very critical benefits in this area. First, it can provide immediate monthly cash flow balance for those with mortgages by eliminating the forward mortgage payments (Pr...

February 2nd, 2016 | Retirement Planning, supplemental retirement income, HECM Reverse Mortgage, Financial Planning, reverse credit line, Can a reverse mortgage replace a pension?

Should you claim Social Security early? - CNBC Article

The decision of when to take Social Security is an important one. This article offers advice based on your health and life expectancy.  This is a constructive way to help make your decision on when you should start your benefits.  It is important to note that the article also mentions that most people rely 90% on their Social Security benefits to sustain themselves.  I believe this is accurate but we have seen many cases with our clients where it’s actually 100%.  Whether its 90% or 100%, that leaves a very thin margin of safety for living and enjoyment.  Thi...

January 21st, 2016 | Social Security, Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Retirement security, Should you claim Social Security early? - CNBC Article

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

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

The State of the LESA - HECM Reverse Mortgages

The overriding goal of a Reverse Mortgage is to allow retirees and seniors to help themselves in retirement.  You can think of this as a means of financial mobility with a loan program that has been specially designed for this demographic in an otherwise very stringent environment where credit may not necessarily be readily available.  Within this arena, the past year has brought changes to the Reverse Mortgage program that have significantly altered the landscape for retirees and seniors seeking eligibility for home equity access in retirement.  The new word of the day is LE...

January 10th, 2016 | Retirement Planning, HECM Reverse Mortgage, Seniors, Reverse Mortgage, Financial Planning, Financial Assessments, LESA, Retirement security, The State of the LESA - HECM Reverse Mortgages

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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.