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Resources | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. AARP Home Equity Information Center. 601 E Street N.W. Washington, DC 20049. National Ctr. for Home Equity Conversion (NCHEC). 360 N Robert, Suite 406. St Paul, MN 55101. 8220;Money from Home”: A Consumer’s Guide to Reverse Mortgages. Comsumers Union, West Coast Regional Office. San Francisco, CA 94103. 8220;Home Made Money”. This completely rewritten book can be read on-line or printed. US Dept. of Housing and Urban Development. Washington, DC 20410-8000.
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Financial Planning and Retirement | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. Financial Planning and Retirement. Reverse Loans Offer a Solution to Seniors. August 14, 2016. This is the final post on a rather long article that discusses a recent report that was published by the Department of Housing and Urban Development that expressed concern about the amount of housing debt seniors are carrying. Here is the remainder of the article that was written by Jason Oliva. The HECM program currently serves a relat...
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Learn About Reverse Loans and Mortgages - Part 2
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Assisting Seniors to Live Life on Their Terms. May 30, 2016. Believe it or not, there is another Reverse loan option that has entered the market for Reverse mortgages and it’s not the FHA HECM loan program. It’s a Jumbo loan for those situations where the property is considered to be “high value” such as about $2,000,000 . It’s ideal for the homeowner who has a high value home and a small existing mortgage or none at all, because the FHA program caps a property value at $625,500. The heirs can either ref...
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Medi-Cal | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. March 22, 2014. In my previous post, I was sharing a resource for Medi-Cal information if someone needs additional help in caring for a loved one and doesn’t have medical insurance or savings to cover the costs of care. Plus, another option is to apply for a Reverse loan if the homeowner is at least age 62. This way they can utilize the money they would receive from a Reverse mortgage to pay for their care and medical expenses.
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Buying a Home | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. Buying a Home With a Reverse Mortgage. July 11, 2016. Although the ability to use a Reverse loan for purchasing a property has been available for quite some time, not too many seniors know about it and neither do Realtors. Generally the buyer of the new property will be selling their current home and the funds from that sale will be applied to the down payment on the new purchase. The actual Reverse loan amount that they will be ...
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HUD | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. Reverse Loan Applicants and Financial Assessment. November 14, 2014. At this time, it is not clear what type of documentation will be required from the applicant to verify income and residual cash flow, but more than likely it will be bank statements, copes of Social Security and or pension income. Reverse mortgages are beginning to sound like a traditional loan, as the documentation will be very similar. The mortgagee letter als...
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Long Term-Care | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. July 21, 2015. Financial Advisor Magazine recently published an article discussing the serious need for Long Term Care Insurance for our aging population. However, many people have missed the window of opportunity to purchase it and now due to possible health problems, they are not necessarily a qualified candidate for the insurance. One solution that was presented, was to use funds from a Reverse loan to either self-insure yours...
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Caring for aging parents | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. Caring for aging parents. Are You a Caregiver? April 27, 2016. My blog is about Reverse loans and providing the latest information about them but it is also a resource for people who are seeking information about other issues of aging and due to the fact that I have a very large resource of professionals that provide services to senors and their families, I like to share that once in awhile on this site. Soon the burden of taking...
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Older people Are Divorcing | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. June 25, 2015. Although the national average for divorce has come down over the years, it has actually increased in seniors. Sometimes it’s referred to as Gray Divorce in the obvious reference to “older” adults. It seems unimaginable that after being married for many, may years, sometimes for 50 years or more, that anyone would get a divorce at that time in their life. But it is occurring more often than you would think it would. 8220;Premartial Bliss”.
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Estate Planning | Reverse Loan Consultant
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Assisting Seniors to Live Life on Their Terms. From the category archives:. The Fight Over Gary Coleman’s Estate. July 20, 2012. Here is the remaining article regarding the messy outcome of poor estate planning which effected the ability for Gary Coleman’s estate to be settled in a timely manner. Steve Greenwood an attorney that specializes in estate planning shared this article with me. 8220;Helping Clients Avoid Estate Disputes. Who will inherit my property if I die without a will? How can we pick a le...