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
Jim (74) and Gina (78) (not their real names), were pretty well off. Between the two of them their retirement income was a little over $5,000 a month. They had some savings, but no real liquid retirement accounts. They were […]Read More
Going From Living In an RV to Owning A Home In Medford Oregon – Using A Reverse Mortgage To Purchase A Home
Susan (not her real name), 70 years young, spent the last couple of years living with friends or in […]
Have These Common Misunderstandings Kept You From Considering A Reverse Mortgage?
People get reverse mortgages for all kinds of different reasons. Some people use it as part of their overall financial plan. Others use it because they no longer want to […]