Mortgage Blog

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

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

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

Now it's tougher to get a Reverse Mortgage.

It is in fact now much tougher than in the past to get a Reverse Mortgage.  The key to success for retirees and seniors going forward seeking a Reverse Mortgage is to plan.  In short, don’t wait until you have spent your last dollar before you decide to apply for a reverse.  The loans are now being scrutinized for risk and not everyone is going to be eligible.  A plan could be as simple as inquiring six to twelve months ahead of time before the basis for need becomes funds of last resort. If you want to maximize your chances of obtaining a reverse mortgage, start with...

May 27th, 2015 | Reverse Mortgage, Retirement Planning, HECM Reverse Mortgage, Financial Assessments, Now it's tougher to get a Reverse Mortgage.

What is a HECM?

A HECM is a Home Equity Conversion Mortgage, often referred to as a government insured Reverse Mortgage, that serves as a vehicle to help retirees and seniors access home equity from their homes in retirement. Home equity can be accessed in various ways depending on homeowner or family needs.  Lump sums at closing can be used to pay off existing forward mortgages. Credit lines, much like traditional home equity lines, can be established for convenience or emergencies.  A big difference that distinguishes a HECM Reverse credit line from a traditional home equity line is that there ...

May 6th, 2015 | Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, home equity access, lifetime income with a Reverse, supplemental retirement income, What is a HECM?

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.