When we die it is often said that we need an estate plan that encompasses a will or a trust. There are also other documents like medical directives and power of attorney. The establishment of a proper plan is important but, in my opinion, a cr
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 card
The statistical significance of using a HECM for Purchase to buy a new home is almost nil relative to the prominent use of a traditional HECM Reverse for refinancing. There are several reasons the HECM for Purchase is rarely used. Heavy down paymen
A key retirement goal should always be financial security. This is often much easier said than done. It is easy to physically retire from work but are you also mentally retired? In other words, being physically retired but mentally insec
The HECM for Purchase vehicle is an excellent tool but people are generally immediately turned off due to the heavy down payment. What they don’t realize is that it's more than just a home loan. It’s a terrific financial manage
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 expose