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 […]
Every year, thousands and thousands of seniors in Oregon avoid getting a reverse mortgage because of something they saw on TV, heard on the radio, read in the newspaper or found online about reverse mortgages. Grandiose headlines, skewed reporting, poor […]Read More
Did you know that divorce rates in the United States are actually on the decline? There is an exception to this and that is divorce rates among seniors. From 1990 to 2013 divorce rates among those 50 and older has […]Read More
Jim (72) and Linda (71), not their real names, just bought a house together. I shared Linda’s scenario just a few months ago. She went from living in a 5th wheel to buying a home. During the process of buying […]Read More