Information for Retirement Planning

  • Breaking Down The 7 Top Reverse Mortgage Myths In Colorado

    Reverse Mortgage was created to give our retiring generation a way to keep their homes and manage the ever increasing costs of life in America after working long and hard over the years. It is an option that could be just right for you. All applicants are required to participate in HUD approved counseling to ensure […]

    more...

  • Delaying Social Security Benefits With A Reverse Mortgage

    When planning for retirement, there will no doubt be a discussion about when a retiree should start taking their Social Security benefits. There are perks to delaying, for example Social Security benefits stand to increase as much as 7-8% per year if you don’t apply until age 70.  But many seniors need this income.  With the […]

    more...

  • The Reverse Mortgage Line Of Credit Is Highly Unique And Here’s Why

    The HECM Reverse Mortgage Line of Credit is still relatively new, and to this day many within the financial and retirement industries haven’t fully grasped how it works.  Well, they need to get on board because consumers are interested – and they should be.  Here’s why.. First, what is a line of credit?  Simply put, […]

    more...

  • The Reverse Mortgage Line Of Credit Is Increasing In Popularity – Here’s Why

    The HECM Reverse Mortgage Line of Credit is still relatively new, and to this day many within the financial and retirement industries haven’t fully grasped how it works.  Well, they need to get on board because consumers are interested – and they should be.  Here’s why.. First, what is a line of credit?  Simply put, […]

    more...

  • How Reverse Mortgages Can Alleviate Divorce Arguments Over Assets

    It’s becoming more and more common for seniors to divorce after retirement.  This is happening for various reasons, but a big one is that retirement now last for decades versus only years, and many people are looking to make those golden years the best yet. But senior divorces can get messy, as there are often […]

    more...

  • USA Today: Retirement In The Time Of Coronavirus

    For most people, achieving a comfortable retirement is a tricky business. The past few weeks have added to the challenges as the world has changed as much as in any period since WWII. The world is now fighting the coronavirus pandemic. COVID-19, as well as the measures taken to slow the spread of the disease, […]

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  • What’s Older Americans Need To Know About Coronavirus Stimulus Checks

    As part of the coronavirus relief program (CARES Act), millions of Americans are already receiving stimulus funds, and millions will continue to do get them over the coming weeks.  The amount an individual will receive depends on their marital status, if they have dependents, and how much income they had in 2018 or 2019.  Those […]

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  • Retirement Changes For Coloradans Included in Coronavirus Relief Bill

    The recently passed $2 trillion coronavirus relief bill included a series of key retirement provisions. These would relax rules on retirement savings and include the option to take a hardship distribution of up to $100,000 from a 401(k) plan without the 10% early withdrawal penalty if you are under age 59 1/2.  Retirees can also […]

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  • How A Reverse Mortgage Can Eliminate Traditional Mortgage Payments

    It’s not uncommon that I get questions about why a senior may want to use a reverse mortgage to pay off an existing conventional mortgage loan.  This scenario would vary from person to person, but in the long run, if the equity in the home can eliminate a mortgage payment without acquiring another loan payment, […]

    more...

  • Understanding Different Reverse Mortgage Professionals

    When you start navigating the waters of reverse mortgages, you will undoubtedly come across MANY different companies and individuals ready and willing to help.  Flashy ads, website calculators, famous spokesmen, and more.  But who are all these people?  And what is the difference between them?  How do you know what is the best fit for YOU? […]

    more...

  • A Guide For Adults With Aging Parents

    With the holidays behind us, it’s not uncommon for adult children to reach out to me to discuss a reverse mortgage as an option to help their aging parents.  They often spend a little more time with family and may realize things are changing with their parents and in their home.  Here are my tips […]

    more...

  • A Quick Look At How A Reverse Mortgage Impacts Taxes

    There are many differences between a reverse mortgage and a traditional mortgage – and taxes are a big one.  Here’s a run down of what to expect come tax time if you have a reverse mortgage. The Tax Liability Issue Because any funds you receive from a reverse mortgage are essentially an advance on your home equity […]

    more...

  • How To Use A Reverse Mortgage And Social Security Together

    When planning for retirement, there will no doubt be a discussion about when a retiree should start taking their Social Security benefits. There are perks to delaying, for example Social Security benefits stand to increase as much as 7-8% per year if you don’t apply until age 70.  But many seniors need this income.  With the […]

    more...

  • Are Heirs Saddled With Reverse Mortgage Debt After Borrowers Pass Away?

    A common question and concern surrounding reverse mortgage is what will happen to the home after the homeowners pass away?  Will the bank take possession?  Will it be allowed as inheritance?  Will it be possible to keep the home in the family?  Will the family of he deceased be held liable?  These are very valid […]

    more...

  • HUD Increases Reverse Mortgage Loan Limits Beginning January 1, 2020

    In early December, the Department of Housing and Urban Development (HUD) announced that the lending limit for FHA insured HECM Reverse Mortgages will be increasing for the fourth year in a row. Beginning on January 1, 2020, the lending limit for government-insured reverse mortgages will be $765,600, marking an increase of $39,075 from the lending limit […]

    more...

  • Reverse Mortgage and Taxes: Everything You Need To Know

    There are many differences between a reverse mortgage and a traditional mortgage – and taxes are a big one.  Here’s a run down of what to expect come tax time if you have a reverse mortgage. The Tax Liability Issue Because any funds you receive from a reverse mortgage are essentially an advance on your home equity […]

    more...

  • Yes, Married Couples Can Get a Reverse Mortgage

    It’s not uncommon to hear heartbreaking stories of reverse mortgages that left a spouse in dire straits after the other spouse passed away.  How could this happen?  Is it something that you need to worry about?  If you and your spouse are considering obtaining a reverse mortgage, it’s important to understand the long term effect […]

    more...

  • Reverse Mortgages Are Good Financial Strategy

    Reverse mortgages are available to seniors 62 and over who either have their home paid off or have substantial equity.  Certain criteria applies to the home in order to meet HUD’s rules, and although anyone on the loan must be 62 and over, they are available to married couples the same as individuals.  The funds available from these FHA insured […]

    more...

  • Can A Reverse Mortgage Provide Financial Security?

    The reverse mortgage of today is NOT your mother’s reverse mortgage.  The once shamed program is now helping seniors from all different walks of life fill retirement gaps and provide protection and stability through their golden years. Financial advisers and retirement planners are beginning to incorporate a reverse mortgage into retirement portfolios at the beginning of retirement, […]

    more...

  • Everything You Need To Know About The Reverse Mortgage Appraisal

    Getting assessments on just about anything can seem laborious or tedious, who wants to have something close to them looked at with a magnifying glass? But appraisals for reverse mortgage loans are not only very helpful for everyone involved, they’re required by the lender.  Part of what determines the amount of funding available from a reverse mortgage is the appraised […]

    more...

  • New FHA Rules Expand Reverse Mortgage Market To Include Condos

    Effective October 15, 2019 a new rule by the FHA will make it easier for condo owners to get HECM Reverse Mortgages. Currently most condos cannot obtain HECM Reverse Mortgage loans because they require approval of the entire building, which includes multiple units.  The new change allows for approval of single units.  This is a […]

    more...

  • Why Everyone Is Talking About The Reverse Mortgage Line of Credit

    The HECM Reverse Mortgage Line of Credit is still relatively new, and to this day many within the financial and retirement industries haven’t fully grasped how it works.  Well, they need to get on board because consumers are interested – and they should be.  Here’s why.. First, what is a line of credit?  Simply put, […]

    more...

  • Why Your Financial Planner Should Be Talking To You About Reverse Mortgages

    When financial planners counsel retirees on how to best leverage their retirement portfolio, social security, and other assets, considering a reverse mortgage was long not part of that conversation – but this is beginning to change. As the myths of the industry are laid to rest, many professionals are beginning to better understand how reverse mortgage […]

    more...

  • An Overview Of Required Reverse Mortgage Counseling

    Prior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process. The goal of this session is not […]

    more...

  • 5 Fast Facts About Reverse Mortgages in Colorado

    Reverse mortgages have made a serious comeback in the past several years.  After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy.  The loans are still only available to seniors 62 and older (including married couples) with […]

    more...

  • What Happens to a Reverse Mortgage After the Owners Pass?

    A common question and concern surrounding reverse mortgage is what will happen to the home after the homeowners pass away?  Will the bank take possession?  Will it be allowed as inheritance?  Will it be possible to keep the home in the family?  Will the family of he deceased be held liable?  These are very valid […]

    more...

  • What Is A Reverse Mortgage Maturity Event?

    For many who have had a conventional mortgage on their home, they are familiar with the “maturity date”.  But with a reverse mortgage, there is no maturity date, only a “maturity event”.  So, what’s the difference? A maturity date indicates the date which the borrower will make the final payment on the loan, including principal and […]

    more...

  • Will A Reverse Mortgage Affect Social Security, Medicare & Pension?

    A very common concern among seniors and adult children when considering a reverse mortgage is how it will affect social security, medicare, and even certain pensions.  For many seniors, these benefits are a large part of their income. Fortunately, because the funds from a reverse mortgage are NOT considered taxable income, a borrower’s benefits will not be affected when taking out a […]

    more...

  • Your Retirement Is Different Than Your Parents – Here’s Why

    Decades ago, when our parents were working and raising a family, they looked at retirement as the true golden years.  It would be a time when they stopped working and lived off the fruits of their savings and investments.  Retirement planners used a three-legged-stool strategy back then.  The make up of this stool was Social Security, employer-sponsored […]

    more...

  • Reasons You Might Want to Refinance Your Reverse Mortgage

    Reverse mortgages are for seniors 62 and older, including married couples, and were once considered a life line. Times have changed, and now reverse mortgages are regularly being incorporated intoretirement planning.  But refinance a reverse mortgage?  It’s not something you hear about often, or maybe you don’t even realize it’s an option.  And why would someone want […]

    more...

  • 5 Things You Need To Know About Reverse Mortgages

    Reverse mortgages have made a serious comeback in the past couple years.  After regulation changes were enacted in 2015, the reverse mortgage loan once considered a desperate lifeline is now being used as a retirement tool for even the wealthy.  The loans are still only available to seniors 62 and older (including married couples) with the amount of […]

    more...

  • Required Reverse Mortgage Counseling: What You Need To Know

    Prior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process. The goal of this session is not […]

    more...

  • Here’s Why The Reverse Mortgage Line Of Credit Is So Popular

    The HECM Reverse Mortgage Line of Credit is still relatively new, and to this day many within the financial and retirement industries haven’t fully grasped how it works.  Well, they need to get on board because consumers are interested – and they should be.  Here’s why.. First, what is a line of credit?  Simply put, […]

    more...

  • Can A Reverse Mortgage Help With Divorce After Retirement?

    It’s becoming more and more common for seniors to divorce after retirement.  This is happening for various reasons, but a big one is that retirement now last for decades versus only years, and many people are looking to make those golden years the best yet. But senior divorces can get messy, as there are often […]

    more...

  • 7 Reverse Mortgage Myths That Need To Go Away

    Reverse Mortgage was created to give our retiring generation a way to keep their homes and manage the ever increasing costs of life after working long and hard over the years. It is an option that could be just right for you. All applicants are required to participate in HUD approved counseling to ensure all their questions and concerns […]

    more...

  • Reversing Thinking On Reverse Mortgages

    Since the reverse mortgage industry saw big changes in 2015 then again in 2017, financial advisers, retirement planners, and reverse mortgage specialists are collaborating more than ever before.  In an effort to ensure these changes are are thoroughly understood and appropriate solutions are offered to clients, a strong relationship between professionals is vitally important. Because of these newly […]

    more...

  • I Have A HELOC On My Home – Can I Get A Reverse Mortgage?

    The short answer is – absolutely.  And as a matter a fact, reverse mortgages are great options to eliminate HELOC payments. A HELOC is the acronym for Home Equity Line of Credit, and thousands in the Fort Collins and Loveland cities have taken advantage of it. When the housing boom was in full swing a number […]

    more...

  • 5 Quick Facts About Reverse Mortgage in Colorado

    The Reverse Mortgage, created to aid the realization of retirees dreams, will be in your face if you have approached, or are approaching, the eligible age of 62. As with the all special offers across Colorado, marketing can promote it in such a way as to allure you – or to terrify you. There are […]

    more...

  • Exploring Reverse Mortgage and Divorce

    It’s becoming more and more common for seniors to divorce after retirement.  This is happening for various reasons, but a big one is that retirement now last for decades versus only years, and many people are looking to make those golden years the best yet. But senior divorces can get messy, as there are often […]

    more...

  • Can I Sell A Home With An Existing Reverse Mortgage

    Typically when a senior takes out a reverse mortgage loan on a home, they intend to age there.  But on occasion and for various reasons, the homeowners wants to or needs to sell the home before the loan comes due and payable.  So, what now? Although this is an important factor, it’s not nearly as daunting as it […]

    more...

  • What Does it Mean When a Reverse Mortgage is FHA Insured?

    If you’ve taken the time to learn even a little bit about a reverse mortgage, it’s likely you’ve heard the term “FHA insured” at least a couple of times.  But what exactly does it mean? Homeowners 62 and over, with significant equity in their home, may be eligible for a reverse mortgage.  These loans are typically insured by […]

    more...

  • What To Look For In A Reverse Mortgage Lender

    For many retirees, a reverse mortgage is a feasible option to living the golden years they always dreamed of, or for others it may be a path to living within a budget without the constraints and worry of excessive financial distress.  In order to qualify for a reverse mortgage, the individual must own their home, […]

    more...

  • Will A Reverse Mortgage Affect Social Security, Medicare & Pension?

    A very common concern among seniors and adult children when considering a reverse mortgage is how it will affect social security, medicare, and even certain pensions.  For many seniors, these benefits are a large part of their income. Fortunately, because the funds from a reverse mortgage are NOT considered taxable income, a borrower’s benefits will not be affected when taking out a […]

    more...

  • Can Reverse Mortgage Help You Achieve Your Retirement Vision?

    In an era where “retirement” has taken on whole new meaning and commonly lasts for two or three decades, more and more retirees are ready to live the latter part of their life to the fullest.  They see this as a time to enjoy life after years of working and raising a family.  But in order to […]

    more...

  • Dissecting The Differences In Reverse Mortgage Professionals

    When you start navigating the waters of reverse mortgages, you will undoubtedly come across MANY different companies and individuals ready and willing to help.  Flashy ads, website calculators, famous spokesmen, and more.  But who are all these people?  And what is the difference between them?  How do you know what is the best fit for YOU? […]

    more...

  • What Will I Be Responsible For After I Get A Reverse Mortgage?

    Reverse Mortgages have helped millions of seniors live more plentiful lives as they age.  Homeowners and their spouses over the age of 62 are eligible for Home Equity Conversion Mortgages (HECM), but although they will NOT have a monthly mortgage payment to pay, they are still responsible for some financial obligations regarding the home.  These include: […]

    more...

  • Is Reverse Mortgage Good Financial Strategy?

    Reverse mortgages are available to seniors 62 and over who either have their home paid off or have substantial equity.  Certain criteria applies to the home in order to meet HUD’s rules, and although anyone on the loan must be 62 and over, they are available to married couples the same as individuals.  The funds available from these FHA insured […]

    more...

  • Here’s How To Know If Your Home Qualifies For A Reverse Mortgage

    Reverse Mortgages are a specialized loan available to seniors 62 and over.  This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement.  But there are some requirements when it comes […]

    more...

  • What Is Required Reverse Mortgage Counseling?

    Prior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process. The goal of this session is […]

    more...

  • Three Things You Never Knew About A Reverse Mortgage

    Reverse mortgages are available to senior homeowners 62 and over, even married couples.  The borrower will live mortgage payment free and always retain the title to the home.  There are many myths and misconceptions that surround reverse mortgages – but there are also some not-so-known perks to the loans.   Here are my top three: 1.) Most […]

    more...

  • Tips for Selling an Inherited Property

    Selling an inherited home can be one of the most difficult situations for both realtor and seller. It can be an overwhelming experience, filled with emotion and lots of questions. While talking about it is hard, it is smart to be prepared. This includes having conversations as a family to determine who will be included […]

    more...

  • Should Home Equity Be Used In Retirement Planning?

    Did you know home equity can be used to reduce the overall risk of your retirement plan? Your house is a great asset that for many years has been overlooked in financial planning for seniors. This is making a sharp turn lately as retirement experts are beginning to understand how tapping into home equity via a reverse […]

    more...

  • Everything You Need To Know About A Reverse Mortgage For Purchase

    We’re all familiar with the two most common options to purchase a home – take out a mortgage loan or pay cash.  But for seniors 62 and over, there’s another option – the Reverse Mortgage for Purchase program (aka HECM for Purchase). Looking for a home in Fort Collins, Loveland or Longmont, Colorado but finding it’s […]

    more...

  • What Responsibilities Will A Reverse Mortgage Borrower Have?

    Reverse Mortgages have helped millions of seniors live more plentiful lives as they age.  Homeowners and their spouses over the age of 62 are eligible for Home Equity Conversion Mortgages (HECM), but although they will NOT have a monthly mortgage payment to pay, they are still responsible for some financial obligations regarding the home.  These include: […]

    more...

  • Can A Reverse Mortgage Provide Financial Security?

    The reverse mortgage of today is NOT your mother’s reverse mortgage.  The once shamed program is now helping seniors from all different walks of life fill retirement gaps and provide protection and stability through their golden years. Financial advisers and retirement planners are beginning to incorporate a reverse mortgage into retirement portfolios at the beginning of retirement, […]

    more...

  • Can I Sell My Home If I Have A Reverse Mortgage Loan?

    For many that obtain a reverse mortgage, the plan is to stay and age at home, but sometimes reasons come up that the homeowner will want or need to sell the home.  Is this possible if there is a reverse mortgage on the home?  And what does it look like? Can a home with a […]

    more...

  • Gray Divorce Rates Are Climbing – Can Reverse Mortgage Help?

    A brand new Pew Research poll highlighted a very interesting trend among divorce in the United States – while divorce rates have drastically declined among younger adults, it’s nearly doubled among adults 50 and over in the past 25 years.  The truth is, it’s becoming more and more common for seniors to divorce after retirement. […]

    more...

  • What Happens To The Reverse Mortgage After The Borrower Moves Out Or Passes?

    A common question and concern surrounding reverse mortgage is what will happen to the home after the homeowners pass away?  Will the bank take possession?  Will it be allowed as inheritance?  Will it be possible to keep the home in the family?  Will the family of he deceased be held liable?  These are very valid […]

    more...

  • What is a HUD Eligible Home for Reverse Mortgages?

    Reverse Mortgages are a specialized loan available to seniors 62 and over.  This creative resource is used by a wide demographic – from those looking to supplement a fixed income, to the more affluent in need of protection for retirement assets, and even those wanting to purchase a home in retirement.  But there are some requirements when it comes […]

    more...

  • How to Use Home Equity for Retirement Security

    Did you know home equity can be used to reduce the overall risk of your retirement plan? Your house is a great asset that for many years has been overlooked in financial planning for seniors. This is making a sharp turn lately as retirement experts are beginning to understand how tapping into home equity via […]

    more...

  • HUD Secretary Ben Carson On Reverse Mortgages

    Every four years, we’re guaranteed a presidential election, and every eight years we’re guaranteed a new president.  2016’s presidential election saw one of the most divisive shifts in federal policy in a very long time.  This certainly put many industries on edge, wondering what it would mean for them.  HUD secretary, Dr. Ben Carson, recently […]

    more...

  • What’s So Great About a Reverse Mortgage Line of Credit?

    The HECM Reverse Mortgage Line of Credit is still relatively new, and to this day many within the financial and retirement industries haven’t fully grasped how it works.  Well, they need to get on board because consumers are interested – and they should be.  Here’s why.. First, what is a line of credit?  Simply put, […]

    more...

  • Understanding Different Reverse Mortgage Professionals

    When you start navigating the waters of reverse mortgages, you will undoubtedly come across MANY different companies and individuals ready and willing to help.  Flashy ads, website calculators, famous spokesmen, and more.  But who are all these people?  And what is the difference between them?  How do you know what is the best fit for […]

    more...

  • Should You Refinance Your Reverse Mortgage Loan?

    Reverse mortgages are for seniors 62 and older, including married couples, and were once considered a life line. Times have changed, and now reverse mortgages are regularly being incorporated into retirement planning.  But refinance a reverse mortgage?  It’s not something you hear about often, or maybe you don’t even realize it’s an option.  And why […]

    more...

  • Why Your Retirement Will Be Different Than Your Parents’

    Decades ago, when our parents were working and raising a family, they looked at retirement as the true golden years.  It would be a time when they stopped working and lived off the fruits of their savings and investments.  Retirement planners used a three-legged-stool strategy back then.  The make up of this stool was Social Security, […]

    more...

  • What To Know About Reverse Mortgages And Taxes

    There are many differences between a reverse mortgage and a traditional mortgage – and taxes are a big one.  Here’s a run down of what to expect come tax time if you have a reverse mortgage. The Tax Liability Issue Because any funds you receive from a reverse mortgage are essentially an advance on your […]

    more...

  • How Bad Is The Retirement Crisis, Really?

    Numbers are being released showing that the impending retirement crisis may be worse than originally thought. Half of Americans have less than $10,000 in savings.  Nearly half of the oldest Baby Boomer generation have insufficient resources to pay for basic retirement living expenses and healthcare costs. The Center for Retirement Research at Boston College estimates […]

    more...

  • What Rising Interest Rates Mean for Reverse Mortgages

    Interest rates have been at historic lows for years.  This has afforded thousands of Americans to the ability to secure home loans for their dream house.  It’s also worked in favor for those who have made the decision to tap in their home equity using a reverse mortgage.  But interest rates affect a conventional loan […]

    more...

  • Why a Reverse Mortgage is a Good Financial Strategy

    Reverse mortgages are available to seniors 62 and over who either have their home paid off or have substantial equity.  Certain criteria applies to the home in order to meet HUD’s rules, and although anyone on the loan must be 62 and over, they are available to married couples the same as individuals.  The funds […]

    more...

  • Reverse Mortgage in Colorado – 5 Quick Facts

    The Reverse Mortgage, created to aid the realization of retirees dreams, will be in your face if you have approached, or are approaching, the eligible age of 62. As with the all special offers across Colorado, marketing can promote it in such a way as to allure you – or to terrify you.   There […]

    more...

  • Delay Social Security Benefits with a Reverse Mortgage

    When planning for retirement, there will no doubt be a discussion about when a retiree should start taking their Social Security benefits.   There are perks to delaying, for example Social Security benefits stand to increase as much as 7-8% per year if you don’t apply until age 70.  But many seniors need this income.  With […]

    more...

  • Why Society Is Reversing Their Thinking On Reverse Mortgages

    Since the reverse mortgage industry saw big changes in 2015, financial advisers, retirement planners, and reverse mortgage specialists are collaborating more than ever before.  In an effort to ensure these changes are are thoroughly understood and appropriate solutions are offered to clients, a strong relationship between professionals is vitally important.   Because of these newly developed relationships, it […]

    more...

  • Reverse Mortgage and Your Taxes

    There are many differences between a reverse mortgage and a traditional mortgage – and taxes are a big one.  Here’s a run down of what to expect come tax time if you have a reverse mortgage.   The Tax Liability Issue   Because any funds you receive from a reverse mortgage are essentially an advance […]

    more...

  • What is an FHA Insured Reverse Mortgage Loan?

    If you’ve taken the time to learn even a little bit about a reverse mortgage, it’s likely you’ve heard the term “FHA insured” at least a couple of times.  But what exactly does it mean? Homeowners 62 and over, with significant equity in their home, may be eligible for a reverse mortgage.  These loans are typically insured by […]

    more...

  • Can a Reverse Mortgage Provide Financial Security for Life?

    The reverse mortgage of today is NOT your mother’s reverse mortgage.  The once shamed program is now helping seniors from all different walks of life fill retirement gaps and provide protection and stability through their golden years. Financial advisers and retirement planners are beginning to incorporate a reverse mortgage into retirement portfolios at the beginning of retirement, […]

    more...

  • Six Ways to Use a Reverse Mortgage to Protect Retirement Income

    Reverse mortgages have long been shunned by many financial professionals, often thought of as a lifeline for desperate and broke seniors.  This thinking wasn’t misplaced.  Reverse mortgages were often often only used for these type of scenarios.  But as retirement planners are facing the harsh reality of slower than anticipated growth in investments and a stagnant economy, […]

    more...

  • How to Use Home Equity for Retirement Security

    Did you know home equity can be used to reduce the overall risk of your retirement plan?  Your house is a great asset that for many years has been overlooked in financial planning for seniors. This is making a sharp turn lately as retirement experts are beginning to understand how tapping into home equity via a […]

    more...

  • Should Reverse Mortgage Be Part Of Your Retirement Portfolio?

      For the past quarter century seniors have easily managed to retire on three things: company pension plans, social security, and personal savings.  But with a rocky economy not long behind us – and still unsteady in many areas, baby boomers are being forced to take a second look at their retirement portfolios.  Previously, tapping into […]

    more...

  • Crisis in Retirement

    It is unfortunately not surprising, but more than half of Americans have less than $10,000 in savings. Most coming to retirement age these days do not even have the resources to cover the living expenses and health care costs if they were to leave their jobs. Is retirement only for the rich?   The numbers have been […]

    more...

  • What Latest Reverse Mortgage Changes Really Mean?

    In April of this year, HUD release new regulations that reverse mortgage lenders must abide by.  As before, borrowers must be 62 or older and be obtaining the loan on a home that is their HUD approved primary residence.  The borrower will still be the homeowner and will always retain the title except now, with a […]

    more...

  • Retirement on the Horizon with Reverse Mortgage

      Retirement was once considered a “golden age” in decades past. It was held as a time for you to relax and enjoy life after years of hard work for your family and your assets. This can still be possible, even in the ever changing society with it’s unexpected expenses.   Reverse mortgage could be […]

    more...

  • Taxes and a Reverse Mortgage in Colorado

    Spring has sprung in Fort Collins and Loveland again!  That’s the good news.  The bad news is this also means it’s tax time.  It’s common during this time of year for me to receive a few questions regarding taxes and reverse mortgage – from both those considering a reverse mortgage, and those who already have a […]

    more...

  • Reverse Mortgage Financial Assesment in Colorado

    The FHA is imposing new rules for borrowers when obtaining a reverse mortgage. The date of these changes has been confirmed by the FHA to be April 27th, 2015. Borrowers must be 62 or older, be obtaining the loan on a home that is their HUD approved primary residence.  Just like with any other type of home loan, […]

    more...

  • Credit Lines Magnify Every Month with a Reverse Mortgage

    With the varieties of opinions about reverse mortgages out in the marketplace a question comes up, that is, ‘would a reverse mortgage be a fall back, last resort, or would it be a positive option for a financial plan?’ While the answer lies in the hands of the borrower, or owner, there are worthy considerations […]

    more...

  • The Time is NOW to Consider a Reverse Mortgage

    Did you think it could be better timing to act now when drawing on the equity of your house? It might seem the longer you wait the higher your equity will become, and thus the greater advantage you will have in drawing upon it.   Not so in the case of a reverse mortgage right […]

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  • Baby Boomers Have Largest Home Equity, Study Finds

    Although Zillow’s Negative Equity Report for the second quarter of 2014 may have some negative numbers (for instance there are more than 8.7 million homeowners with a mortgage still remaining underwater), there are a few highlights to mention.     First, while approximately 18.7 percent of Generation X homeowners are underwater on their mortgage only 10.9 […]

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  • Reverse Mortgages Can Eliminate House Payment

    Just yesterday, Fox Business published a very thorough article outlining how and why a senior may want to use a reverse mortgage to pay off an existing conventional mortgage loan.  After discussing the positive recent changes the reverse mortgage industry has seen, including using it as a retirement planning tool, the article discussed different scenarios […]

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  • Can A Reverse Mortgage in Greeley, CO Provide Guaranteed Cash Flow For Life?

    Did you know the average retiree in Greeley, Colorado lives off $1,230 per month from Social Security and a small nest egg?  Often times that nest egg only lasts for a portion of the retirement years while their retirement may actually last for two to three decades.  This is why financial advisers and retirement planners are […]

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  • Maturity Date versus Maturity Event in Reverse Mortgage Loan

    For many who have had a conventional mortgage on their home, they are familiar with the “maturity date”.  But with a reverse mortgage, there is no maturity date, only a “maturity event”.  So, what’s the difference?   A maturity date indicates the date which the borrower will make the final payment on the loan, including […]

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  • Can Reverse Mortgage Help You Achieve Your Retirement Vision?

    In an era where “retirement” has taken on whole new meaning and commonly lasts for two or three decades, more and more retirees are ready to live the latter part of their life to the fullest.  They see this as a time to enjoy life after years of working and raising a family.  But in order to […]

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  • Reverse Mortgage and the ‘Standby’ Strategy

      In a recent Bloomberg article, the author laid out the case for using reverse mortgage as a responsible option for long-term financial planning.  Assistant professor of financial planning at Texas Tech University, John Salter, and two of his colleagues put the scenario to the test.   Here is what they found:   Salter and […]

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  • Reverse Mortgage in Retirement : Now or Last Resort?

      Research suggests that many baby boomer and beyond retirees will not be in a financial position to avoid using home equity as part of their retirement strategy, meaning they will be increasingly turning to reverse mortgage. Senior homeowners are more commonly seeking advice from their retirement planners on whether to consider a reverse mortgage […]

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  • 5 Things You Should Know About A Reverse Mortgage

      If you’re a senior over 62, reverse mortgage marketing will begin to creep into your life.  It’s inevitable.  Sometimes it’s big, flashy promises and other times it’s scary horror stories.  To help you filter through the hype, here are 5 important things every senior should know about a reverse mortgage:   1. You do not […]

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  • HECM LOC Credit Line Grows Every Month

    Unlike the traditional HELOC’s fixed borrowing limit, the HECM credit line increases at the current compounding rate. This feature is particularly valuable the longer the client stays in their home.     A scenario: A 62 year-old couple has a home worth $200,000 with no mortgage. They get a HECM LOC and keep it in […]

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  • NBC’s Today Show Discusses Reverse Mortgage

    In this great 4 minute video from NBC’s The Today Show, financial editor Jean Chatzky answers some common questions about reverse mortgage, how they work, and whom they are right for.   Touching on the issue of home inheritance she urges potential borrowers to ask the question: why are they so attached to their homes?  […]

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  • Reverse Mortgage Fosters Relationship with Senior Real Estate Specialists

    Many changes have come to Colorado’s reverse mortgage industry in the past several months.  These changes have had a positive impact on an industry that was once thought to only serve cash-strapped seniors who had no other options.  As financial planners and realtors are learning about the various opportunities available with a reverse mortgage, better […]

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  • How to Alleviate HELOC Payment Shock with Reverse Mortgage

    At the peak of the housing boom thousands of Loveland and Fort Collins homeowners tapped into their biggest asset – their home – and took out a home equity line of credit or a HELOC.  Many of these loans are set to amortize after 10 years, meaning these borrowers are about to see some serious […]

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  • A Retirement Crisis by the Numbers

    Numbers are being released showing that the impending retirement crisis may be worse than originally thought.   Half of Americans have less than $10,000 in savings.  Nearly half of the oldest Baby Boomer generation have insufficient resources to pay for basic retirement living expenses and healthcare costs.   The Center for Retirement Research at Boston […]

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  • Reverse Mortgage Changes Opens Doors of Opportunity

    Since the reverse mortgage industry saw big changes earlier this year, financial planners, retirement specialists, and lenders are collaborating more than ever before.  In an effort to ensure these revisions are thoroughly understood and appropriate solutions are offered to clients, a strong relationship between professionals is vitally important.   Because of these newly developed relationships, […]

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  • Changes to Reverse Mortgage

      I was recently informed that upcoming changes to the FHA Insured Reverse Mortgage program will reduce the amount of proceeds our clients will receive from the loan. FHA may increase rates which, in turn, will decrease proceeds.   In addition, lenders have been notified that there will be stronger qualifying guidelines in the form […]

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