Tag: reverse mortgage
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HECM: Can It Ease a Senior’s Financial Stress?
A home equity conversion mortgage (HECM) is a lesser-known financial tool designed for seasoned deed holders. At essence, it’s a reverse mortgage. Backed by the FHA, it allows qualified seniors to reach some of their home equity while holding onto the home.
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“The Senior Living Market Can’t Keep Up With Demand”: A Deed May Be the Best Senior Living Plan
In a recent issue of the CNBC Property Play newsletter, Diana Olick wrote that older adult living is “on the edge of a boom — a baby boom, to be exact.” Between today and 2030, more than 4 million baby boomers will reach the age of 80. Can active adult and assisted living properties climb…
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Politically Connected Broker Pushed Senior Into Reverse Mortgage, Says Lawsuit
A current member of the Council of Calistoga, California, who is also a broker, faces a hearing this month. A lawsuit accuses Councilmember Scott Cooper, along with his company, of exploiting an elder financially.
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What Can a SRES® Agent Offer a Mature Home Buyer?
Have you heard about the Seniors Real Estate Specialist® (SRES®), from the National Association of REALTORS®? The SRES credential is a sign that an agent can support the goals and needs of older clients. The SRES agent has been trained in the unique challenges of those who enter the market aged 50+.
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Seniors Lose Billions Each Year to Scammers: 5 Quick Tips to Protect Yourself
According to the FBI, scammers take advantage of seniors to the tune of billions annually. A lot of this happens because seniors own a massive amount of U.S. real estate, a hard and valuable asset. To avoid enriching the wrong people, keep our five tips in mind. Consider sharing this column with friends who need…
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Reverse Mortgage Problems: When to Stay, and When to Walk Away
Reverse mortgages are designed for senior homeowners. They’re advertised as a super power available to longtime deed holders. The idea? When you’re low on cash, tap into your many years of equity-building. Draw financial strength from your property’s value. Sounds good, and yet pitfalls await the unwary. Reverse mortgages allow borrowing to increase, and home equity…
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What Resources Exist for Deed Holders Who Need Cash?
Ever heard the phrase house rich, cash poor? It can be frustrating to have a valuable home and empty pockets. You might be dealing with job changes, emergencies, new goals, hopes and dreams… And you need cash. Can you reach into your property value to get the cash now — without downsizing to a cheaper…
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Reverse Mortgage Scams? What Seniors Need to Know.
If you or someone you care about is 62+, you’ll know it’s important to avoid sketchy financial offers targeting older adults. But what about reverse mortgages? From time to time, media outlets point to scams or high-pressure tactics involving reverse mortgages. And it’s true that reverse mortgages are designed for senior homeowners. But are these…
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Unlocking Your Home’s Equity Without Selling: A Guide for Retirees
Options at Retirement Age and Earlier The closer we get to retirement age, the more we start thinking about how to avoid pulling from our retirement accounts too early or too much. For many homeowners, home equity is starting to look like a key retirement planning resource. What’s the best way to tap into it?…
