Mortgage Blog

Blog Image: Planning Options for Leveraging the Most Out of Social Security with a Reverse Mortgage

Planning Options for Leveraging the Most Out of Social Security with a Reverse Mortgage

For most retirees, how to get the most out of Social Security is not common knowledge.  Often they retire and the next step, based on need or assumption, is to sign up for Social Security benefits.  The benefit system is complex with many variables.  Avoiding common mistakes is often a simple recipe for winning the end game.A lot of people attempt to follow advice based on break-even calculations.  If you start early versus later and you live to a certain age you are better off.  Personally, I think this is nonsense.  We don’t know how long we are going to l...

August 11th, 2015 | Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, Social Security, Planning Options for Leveraging the Most Out of Social Security with a Reverse Mortgage

New Ways to Pay for Long-Term Healthcare

Good Article on MarketWatch, titled "New Ways to Pay for Long-Term Healthcare".  I can't get comfortable with long term care insurance. I have met many long-term care specialists that sell this product and they all will tell you that you have to have it. My understanding is that you sign up today and if the group of participants for the product you signed up for submits claims over what is expected by the insurer then the premiums go up. You have the alternative to keep the premiums low by increasing deductibles etc. To me this guts the insurance. This is an illustratio...

July 16th, 2015 | Long Term Care, Reverse Mortgage, Home Care, HECM Reverse Mortgage, Retirement Planning, Seniors, New Ways to Pay for Long-Term Healthcare

Blog Image: Helping Retirees and Seniors with a Critical Financial Planning Element

Helping Retirees and Seniors with a Critical Financial Planning Element

Monthly cash flow seems to be the order of the day.  As we age, many of us find ourselves in a constant battle trying to manage funds in from income and funds out for living expenses and care. Reverse Mortgages go a long way toward addressing this issue and helping to establish financial balance but you still need a comprehensive plan.  Many people are too quick to focus on money in and neglect to fine tune their focus on money out.  This is a critical area that needs focus especially in the current low interest rate environment where seniors make next to nothing on their saving...

July 8th, 2015 | HECM Reverse Mortgage, supplemental retirement income, Retirement Planning, Home Care, Reverse Mortgage, Helping Retirees and Seniors with a Critical Financial Planning Element

Blog Image: How a Reverse Mortgage Can Help with In-Home Care

How a Reverse Mortgage Can Help with In-Home Care

A Reverse Mortgage can provide easy access to home equity that has been built up over time.  In turn, these funds can be used for in home care and enable the homeowner to stay in their home.  There are some qualifications for eligibility but the loan is a non-recourse loan insured by the government through the FHA program and specially designed for seniors. Home equity access is available through lump sums, term payments and tenured annuity like payments to supplement income, credit lines, or a combination of these options.  The most popular is a lump sum up front to pay off ...

June 26th, 2015 | Home Care, HECM Reverse Mortgage, Reverse Mortgage, Long Term Care, How a Reverse Mortgage Can Help with In-Home Care

Understanding the Complexity of a Property Short Sale

Many people think a short sale primarily consists of simply selling your home with a realtor as part of a lender sanctioned transaction.  Others may view a Short Sale as an opportunity to get out of a bad investment or difficult financial situation.  Regardless of your position or objective, it is important to understand the relative complexities before you begin. A short sale is the process of selling your home that is underwater, netting out all major applicable selling expenses, and having your lender(s) agree to a net residual amount that is lower than the overall mortgage deb...

June 8th, 2015 | Short Sales, forgiven mortgage debt, Mortgage Deliquency, mortgage debt forgiveness act, Debt Mitigation, Understanding the Complexity of a Property Short Sale

Parachute Mortgage Delinquency with a HECM Reverse Mortgage

A parachute from high altitude is always a lifeline.  When a retiree or a senior, whether still working or not, gets into potential trouble with a forward mortgage payment becoming unaffordable, a HECM Reverse Mortgage can serve as a financial lifeline. If a current mortgage is delinquent, in default, or is forecasted to go that route it is imperative to address this situation to protect the homeowner’s home equity.  A foreclosure by the mortgage lender will wipe out the home equity regardless of loan to value.  There is no law that says the lender does not have the rig...

June 2nd, 2015 | Retirement Planning, supplemental retirement income, HECM Reverse Mortgage, Traditional Mortgage, Mortgage Deliquency, Parachute Mortgage Delinquency with a HECM Reverse Mortgage

Subscribe to Our Newsletter

Fields marked * are required
Email *
 

 

Facebook

 

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. 

Testimonials

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.