It has to be noted that 70% of seniors are expected to have to tap their home equity to make it to retirement let alone through retirement. That is not something we really want to hear because not everyone has home equity as a vehicle. We also have t
Feb 19, 2013 | Retirement Planning home equity access HECM Reverse Mortgage Government insured mortgage lifetime income with a Reverse
It boils down to the concept of unjust enrichment. When someone does not pay a debt or a debt is forgiven, the IRS sees this as effectively income. You no longer have a debt to pay and someone or some business is going to look to write th
Jan 29, 2013 | Short Sales forgiven mortgage debt mortgage debt forgiveness act solutions for underwater properties
With the constant struggle for everyone in this low interest rate environment we all have to work smarter, not harder to achieve our goals. This is especially true for retirees that no longer earn wages from employment and have to make due with incom
Jan 11, 2013 | Reverse Mortgage Retirement Planning Annuity supplemental retirement income Reverse to Purchase Mortgage Retirement income insecurity
The “fiscal cliff bill” passed by Congress January 1 included a provision to exclude borrowers from paying taxes on debt forgiven through a short sale, foreclosure, or loan modification. Known as Mortgage Debt Relief Act of 2007, the act
Jan 03, 2013 | Fiscal Cliff Short Sales Debt Mitigation
We are all worried about the fiscal cliff and the idiots in congress on both sides of the isle that we pay and that continue to fail us on material issues. When I use the word idiots I mean it in the most literal way a human being can use it t
Dec 01, 2012 | Reverse Mortgage Retirement Planning Fiscal Cliff Medicare
Question: On a Reverse Mortgage does the interest accumulate on the unpaid balance at the same rate. If so, does that mean your paying interest on the compounded amount each month? Answer: Updated for clarification: Added “Growt
Nov 27, 2012 | Reverse Mortgage Traditional Mortgage