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
To say that the reverse mortgage is misunderstood is a massive understatement. The American College of Financial Services polled 1,000 people between the ages of 55 and 75 with at least $100,000 in investable assets and $100,000 in home equity. […]Read More
Don and Darla were referred to me by a local bank here in Medford when they inquired about a reverse mortgage. Our first meeting lasted 2 hours. Our second meeting lasted 2 hours. Our third meeting lasted 2 hours. We […]Read More
According to the Social Security Administration, as of December 2014, the average retired worker drew $1,329 in monthly benefits. If two spouses collected the average monthly benefit, their household income from Social Security would come to about $32,000 — far […]Read More
Going Above and Beyond and Blazing New Trails In The Reverse Mortgage Market
Margie only has $624 a month in social security income and no other liquid assets. She got her reverse mortgage loan 6 years ago, 2010 for those that […]
I thought I would mix things up a little bit this month and provide some interesting statistics and facts around the reverse mortgages, senior housing and retirement.
The HECM program (home equity conversion mortgage aka reverse mortgage) was voted into existence […]