The Inheritance Dilemma

I often have potential borrowers explaining that they don’t want a Reverse Mortgage because they want to save the house as an inheritance for their children. However, they need to improve their financial situation and a Reverse Mortgage could provide them with flexibility by eliminating their monthly mortgage payment, providing monthly cash, a line of […]

Comparison Shopping

There are many motivating factors for making a large purchase. Perhaps you are just ready for a change. Maybe your current car/appliance/device is acting up. Possibly something is broken beyond repair. Most people first weigh the options between living with what they have, seeking appropriate repair services, and shopping for something new. There are costs, […]

Weighing The Risks

A recent Reverse Mortgage inquiry has brought up the topic of weighing the benefits and risks of Non-FHA Reverse Mortgages. This particular couple has a 20-year age difference between them. He is 70 and she is 50. He works in a high-earning profession, but experienced an income interruption due to COVID. They hoped to get […]

Have You Considered Home Sharing?

I recently had a discussion with a woman who works for a non-profit organization. Her role is to work with people who are seeking “affordable housing” and since many of those seekers do not own a home, she didn’t think my book, “Why A Reverse Mortgage?” was relevant to her work. However, I pointed out […]

Take Advantage Of This Opportunity!

Adults over the age of 62 are quite often still employed and may have a traditional mortgage requiring monthly payments. They are also often tasked with care or oversight of their parents or perhaps a sibling or special-needs adult child. These responsibilities make them vulnerable to both loss of employment and higher expenses which, in […]

You Might Inherit The House, But You Don’t Inherit The Loan

I am often asked about how property and loan transfers take place when an owner dies. It is important to understand that the title to the property and the loan are two separate transactions, regardless of the type of loan on the property. Title to the property can be transferred from the deceased to another […]