by Steve G | Dec 1, 2023 | Finance, Retirement, Reverse Mortgage
A reverse mortgage can be an important part of retirement planning for wealthy retirees that have a substantial amount of home equity. It is a financial product that allows you to access part of the equity in your home while you are still living in it. This is equity... 
by Steve G | Nov 3, 2023 | Finance, Housing, Retirement, Reverse Mortgage
Undertaking unexpected home maintenance and renovation projects in retirement could negatively impact seniors’ budgets. More homeowners are turning to home equity lending — especially home equity lines of credit (HELOCs) and home equity conversion mortgages (HECMs) —... 
by Steve G | Oct 13, 2023 | Finance, Housing, Reverse Mortgage
Several factors determine how much money you can borrow through a reverse mortgage. Those factors include your age, the interest rate offered, the home’s value, and how much equity you have in the home. A reverse mortgage calculator will estimate how much money is... 
by Steve G | Oct 6, 2023 | Housing, Reverse Mortgage
Modern reverse mortgages are designed to maintain a substantial amount of equity in the home. In most situations home equity also continues to grow over time as the home’s value increases. It is important to know your options at the end of a reverse mortgage. There... 
by Steve G | Sep 29, 2023 | Finance, Housing, Reverse Mortgage
Qualifying for a reverse mortgage requires far less documentation and fewer credit conditions than a forward mortgage. However, there are a few important requirements that must be met. Important Requirements: Borrowers in most states must be 55 years or older. Ages... 
by Steve G | Jun 27, 2023 | Finance, Retirement, Reverse Mortgage
The reverse mortgage products offered today provide multiple ways to access home equity and almost unlimited ways to use the funds. Here are eight of the most popular ways to use funds from a reverse mortgage: Paying off Debt Reverse mortgages can be used to pay off...
