Reverse Mortgage Blog

WHY TAKING A REVERSE MORTGAGE YOUNGER MAY BE BETTER

Decades ago, reverse mortgages were generally taken out by property owners who were 70 years of age or older. But even if you aren't in your 70s or 80s, a reverse mortgage may still be the best financial option for you.Today, many borrowers in their 60s are starting to look at reverse mortgages as ...
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A REVERSE MORTGAGE CAN HELP YOU LEAD YOUR BEST LIFE

With age, life only gets better. As a retiree, you have more time to travel, spoil your grandchildren, take it easy and do the things you love. However, with the average senior holding nearly $80,000 in mortgage debt, financial restrictions can make living your best life more of a dream than a ...
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WHAT YOU NEED TO KNOW ABOUT REVERSE MORTGAGE

WHEN THE HOMEOWNERS ARE DIFFERENT AGES You have to be at least 62 years old to qualify for a reverse mortgage. If you are past that age and your spouse is younger, you may be wondering what your options are. Here are five facts you may want to consider.1. Reverse Mortgage Payments Can Be Larger ...
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4 TIMES TO CONSIDER GETTING A REVERSE MORTGAGE

Homeowners are free to explore reverse mortgages at any time, but there are a few particular times when these lending agreements are especially helpful. If you're facing any of the following situations, now may be the right time to consider getting a reverse mortgage.When Retiring from Your ...
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PROTECTING YOUR FUTURE BY UTILIZING YOUR ASSETS - ADVANTAGES OF A REVERSE MORTGAGE

As you age, it's important that you develop a complete understanding of your finances and plan thoroughly for your future. After a long life of hard work, you should never feel as though you're forced to make sacrifices in order to be financially secure. That means taking advantage of the tools ...
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WHY A REVERSE MORTGAGE IS BETTER FOR SENIORS THAN A HOME EQUITY LOAN

Retirement is a wonderful part of life for many seniors, yet it can also be a time of life when they worry about money. If you struggle with having enough money for the things you need, you could look into reverse mortgages and home equity loans.As you examine both options, you may find that a ...
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5 SIGNS A REVERSE MORTGAGE IS RIGHT FOR YOU

Life expectancies are higher than they have ever been, and to support themselves through a long retirement, many people turn to products like reverse mortgages. Wondering if a reverse mortgage is right for you? Here are five signs that you may want to consider one or at least get more information. ...
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4 REVERSE MORTGAGE MYTHS AND THE TRUTH BEHIND THEM

Reverse mortgages can be a useful way to leverage your home equity to boost your income during your retirement. Unfortunately, there are several myths that have circulated about reverse mortgages, and as a savvy consumer, it's important to understand the truth behind those myths. Here's a look at ...
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ARE YOU EVER TOO OLD FOR A REVERSE MORTGAGE?

While many may prefer to leave milestone birthdays behind after age 21, these birthdays can come with tangible financial benefits during your later years, such as becoming eligible for early Social Security benefits at 62, qualifying for Medicare at 65, and reaching full retirement age at 67. Those ...
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IS A REVERSE MORTGAGE A GOOD WAY TO PURCHASE YOUR RETIREMENT HOME?

If you're like many new retirees, you may be eager to downsize from the home in which you raised your family and move to a smaller place that requires less upkeep. Purchasing your retirement home can be an exciting process, especially if you have enough equity in your current home to afford to live ...
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HOW DOES A REVERSE MORTGAGE AFFECT YOUR CHILDREN'S INHERITANCE?

As a parent or grandparent, you may want to ensure that you leave an inheritance to your children and their children, and if you're thinking about taking out a reverse mortgage, you may be wondering how that may affect their inheritance. Here's a look at the basics:1. ELIMINATING CURRENT LIENS If ...
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UNEXPECTEDLY RAISING YOUR GRANDCHILDREN? CAN A REVERSE MORTGAGE HELP YOU SHORE UP YOUR FINANCES?

If you've recently been given the responsibility of raising your minor grandchild or grandchildren, you may be scrambling as you wonder how to shift your plans for retirement into plans to raise a family again. Even with the benefit of child-support payments (which many custodial grandparents don't ...
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THE IMPORTANCE OF RETIREMENT PLANNING

It is never too late to begin planning for your retirement years. While flipping through the yacht catalog and envisioning sightseeing trips can certainly be part of this process, you will also want to spend some time preparing your finances. Ensuring an adequate income after you stop working is a ...
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FIVE REASONS TO CONSIDER GETTING A REVERSE MORTGAGE

A reverse mortgage can be an effective way to get cash when you need additional funds for daily living expenses or for travel. These loans may not be right for everyone in Santa Cruz, but for many people 62 and older, access to home equity may be a sound financial resource. Take a look at five ...
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