Mortgage Blog

Senior Advocates - When are they needed?

As we get older we often take things for granted.  We all collectively feel that we have it covered and that we can still handle just about anything that is thrown at us.  However, this is not always the case and not reaching out for help in certain scenarios could prove to be detrimental.Advocates can be used for many things.  The most common is hiring a lawyer to navigate the court system or an accountant to address the complexities of the tax law.  These are the easy ones.  What we often miss or take for granted are things like medical bills, the misdiagnosis of ill...

May 5th, 2017 | Age in Place, Seniors, Home Care, Senior Advocate, Senior Advocates - When are they needed?

Cash-strapped seniors: Weigh reverse-mortgage pros, cons

This is a great article illustrating many aspects of how a Reverse Mortgage can be a terrific retirement tool as long as you are not flagrant with your money. If you use it for financial balance and create cash flow for monthly living expenses so you can live more comfortably within your means, then it can help provide a nice path to a more secure retirement.  There are also tremendous benefits, not mentioned, that will protect your spouse after your passing and many aspects of the non-recourse loan that will insulate your heirs and your estate from losses on the home should outlive your ...

April 21st, 2017 | Seniors, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, Retirement security, Cash-strapped seniors: Weigh reverse-mortgage pros, cons

The Unexpected Risk of a Forward Mortgage for Retirees - Eliminate Risk with a Reverse Mortgage

Many retirees and seniors have forward mortgages and traditional home equity lines.  All forward mortgage instruments require monthly payments.  As we know, if you do not pay your monthly payments after a short period of time the lenders will initiate foreclosure and auction your property to satisfy their liens.  This is standard practice with most loans being accelerated after non-payment within a 90-120 day period.  The definition of acceleration, as it pertains to mortgage loans, simply means that all forward payments over the course of the term are now due.  If acc...

March 7th, 2017 | Reverse Mortgage, HECM Reverse Mortgage, Home Care, Retirement Planning, The Unexpected Risk of a Forward Mortgage for Retirees - Eliminate Risk with a Reverse Mortgage

The real story on Trump's Treasury pick and reverse mortgages

Terrific article that puts the terminology surrounding reverse mortgages in better context and explains it so normal people can understand. As the article denotes, with a Reverse Mortgage, foreclosure is not necessarily a bad thing.  Foreclosure is nothing more than the legal mechanism that follows state protocol that allows the lender to take control of the property and initiate recovery of their security interest.  With a reverse mortgage it is not uncommon for the property to be under water after expected selling expenses.  It is also not uncommon for the family not to w...

January 20th, 2017 | Reverse Mortgage, Traditional Mortgage, foreclosure, Trump, Treasury, The real story on Trump's Treasury pick and reverse mortgages

Leverage in Downsizing

As we enter the New Year, planning is on the minds of most people, especially those that are retired or considering retirement.  A popular decision that often yields a big payoff is the downsizing your home for retirement.  There comes a point where the large home may no longer make sense given all the unneeded space, rising real estate taxes, and general costs.  There are two effective ways to downsize a home.The first is the traditional binary approach.  This entails selling your current larger home and taking the net proceeds and plowing them into a smaller home that is ...

January 6th, 2017 | Retirement Planning, Reverse Mortgage, HECM for Purchase, Seniors, Age in Place, downsizing, Leverage in Downsizing

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

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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.