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Reverse Mortgage News

Reverse Mortgage: Know Your Facts

What is a Reverse Mortgage? A Home Equity Conversion Mortgage, (HECM), commonly known as a reverse mortgage loan, is a Federal Housing Administration (FHA) insured loan1 which allows you to access a portion of your home’s equity without having to make …

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How is the Loan Amount Calculated for a Reverse Mortgage?

An important question that is top of mind and frequently asked by seniors when they are looking into a reverse mortgage is “How much money can I get?”  There are a few key factors that are used to calculate the loan amount a borrower can receive.  Keep…

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Application Process for a Reverse Mortgage

You’re interested in a reverse mortgage, have done your research and decided on a lender.  Now, you are asking, “What is the next step?”  It’s the application.  Below are the steps involved and the information that may be requested by your lender to co…

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Reverse Mortgage Appraisals

A reverse mortgage can be beneficial to seniors who are struggling during the current economic conditions.  An important part of the reverse mortgage process is the appraisal.  With the current pandemic, there have been concerns that seniors, who have …

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Best Home Modifications For Aging In Place and How to Finance Them

Here’s are several excerpts from an article by Jeanne Lee that appeared in Bankrate.com. Most Americans over age 50 prefer to remain in their current home and community…
The post Best Home Modifications For Aging In Place and How to Finance Them …

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Retired seniors’ guide to downsizing

When considering downsizing your home, there are issues and stressors you may have never encountered. For seniors, this is a situation that sometimes comes from necessity. And now,…
The post Retired seniors’ guide to downsizing appeared first on Revers…

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Planning Your Finances For An Uncertain Future

The coronavirus has changed many people’s financial circumstances quickly. There are steps you can take if your income has decreased suddenly. But do you and those you care about…
The post Planning Your Finances For An Uncertain Future appeared first o…

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Social Security Benefits Lose 30 Percent of Buying Power Since 2000

An analysis of Social Security “cost of living adjustments” (COLAs) compared to the actual costs of goods and services purchased by older Americans found that Social Security benefits…
The post Social Security Benefits Lose 30 Percent of Buying Power S…

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Is now the right time for seniors to consider a reverse mortgage?

Liz Weston, NerdWallet’s personal finance expert, is also a Certified Financial Planner and author of five money books including the best-selling “Your Credit Score.” During a recent interview with…
The post Is now the right time for …

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Valuable Financial Resources for Older Adults from the CFPB

The Consumer Financial Protection Bureau (CFPB) is providing relevant financial education resources for older adults, their families and practitioners who work in the aging field during the coronavirus…
The post Valuable Financial Resources for Older A…

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