Mortgage Blog

Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees - Forbes Article

Good article on Forbes.com today titled - Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees by Wade Pfau.A saving grace for those that use a Reverse Mortgage wisely may hold the key.  There is no rush to spend your home equity.  This article does a nice job introducing a complex use of a Reverse and putting it into layman’s terms by stating that most people spend down their liquid assets first and save their home equity for last.  By having access to your home equity and spending it wisely and proportionally, along with your invested assets, the presump...

February 12th, 2016 | Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Financial Planning, Seniors, Retirement security, home equity access, Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees - Forbes Article

Blog Image: Simplicity versus Complexity with a Reverse Mortgage

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

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

Blog Image: The State of the LESA - HECM Reverse Mortgages

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

Reverse Mortgage Myths Busted!

Myth: "Property Ownership Exchange"Fact:  When a homeowner obtains a government insured HECM Reverse Mortgage on their home this in turn establishes a mechanism for home equity access that is much easier to qualify for than a traditional forward loan.  Many people, including advisors and realtors, have somehow been led to believe that this is a trade.  In other words, an easy qualifying non-recourse loan insured by the government in exchange for the government assuming ownership of the home.  This is completely false.  There is no such exchange and the  ...

December 9th, 2015 | HECM Reverse Mortgage, Retirement Planning, Reverse Mortgage, Government insured mortgage, home equity access, Seniors, supplemental retirement income, Reverse Mortgage Myths Busted!

Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage

Private label Reverse Mortgages have been slowly creeping across the country over the past two years.  There are some very key distinctions between the private label and the government insured HECM that are important to keep in mind. The government insured HECM Reverse Mortgage program has a growth factor that allows a homeowner’s available credit, based on the untapped portion of allowable equity, to grow and compound thereby providing retirees and seniors with increased levels of home equity access each year as they age.  The private label programs do not have a growth f...

November 18th, 2015 | Seniors, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, private label reverse mortgage, growth factor, Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage

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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.