Retirees who are planning out their retirement income may use the Reverse Mortgage option as a source of assured revenue during their senior years. The loan has been a lifeline for many seniors in the past but now financial planners are starting to talk about the loan’s long-term benefits along with its better-understood short-term advantages. [...]
Archive for May 2012
Once you’ve made the decision to apply for a Reverse Mortgage, there are several steps to complete before you actually see the loan funds.
A Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM) is available to senior citizens aged 62 and older who wish to retain ownership of their home while converting [...]
A home is generally an individual’s biggest asset. This is especially true for seniors who have often spent their working lives paying off their home’s mortgage and are now set to enjoy the fruits of their working lives.
Today, many seniors along with their families and senior advocates are questioning whether it’s a good idea [...]
Statistics indicate that more people than ever are turning to the Reverse Mortgage as an option that will allow them to remain financially solvent in their retirement years. Financial advisors suggest that retirees try to hold off taking out a Reverse Mortgage until their late 60s or early 70s. They caution that, because of the [...]