On August 29th HUD announced significant changes to the reverse mortgage program that will take effect on October 2nd, 2017. Normally, large changes like this are announced much further ahead of time allowing for public comment, leaders in the industry […]Read More
Ann (not her real name) is 81 years old. She lost her husband late last year. Throughout their entire marriage Ann never paid bills, never made any of the financial decisions and for the most part was unaware of what […]Read More
Don (74) and Rachel (67) are clients that did not have to get a reverse mortgage. They had a healthy income of almost $50,000 a year, plenty of funds in retirement accounts and very little debt except for the home. […]Read More
Like many people, Luke (73) and Jill (70) got hammered in the recession. Luke ran the restaurant that he and Jill owned and Jill had a job in the medical field. When the economy turned, the income from the restaurant […]Read More
The Joint Center for Housing Studies at Harvard University recently completed a study regarding the nation’s ability to meet aging-in-place demands of the rapidly growing senior population. The report identified three big problems seniors are currently facing or will face […]Read More
You’re 65 And About To Pay Cash For A New Home, Is That The Right Move For You?
Here is an interesting scenario. You are 65 years old and selling your home and are about to buy a new $300,000 home. […]Read More
I originally met with Tim (not his real name), age 64, in late 2015. He was curious about reverse mortgages; how they worked and if they might work for his situation. Tim was self-employed and wanted to start working less, […]Read More
Here is an infographic I created to see what the Oregon HECM market looked like in 2016. I wanted to see how the HECM was being used, average interest rates, number of HECM endorsed per county and more. I also […]Read More
This is an info-graphic I created from HUD’s Single Family HECM Snapshot data. I created this to see in general what happened during 2016, how the HECM was being used, where it was being used and average interest rates.
Share this Image On Your […]Read More
This month’s scenario is on Rick and Darcy, both in their mid-sixties. They are pretty well off financially. They owned their $630,000 home free and clear, have several hundred thousand in retirement and bank accounts. And to top it all […]Read More