Financial Planning Articles

Paying Off Reverse Mortgages

A frequently asked question about reverse mortgage loans is, “When do I have to pay it off?” There are several scenarios regarding when a reverse mortgage would have to be paid off. The first would be when the last borrower passes away or moves out for more than a year, so the home is [...]

By |2024-03-15T18:11:17-06:00April 4th, 2024|Finance|Comments Off on Paying Off Reverse Mortgages

Reverse Mortgages & Inflation

Inflation has increased the price of just about everything, including buying a new home. For senior homeowners living in a home that no longer fits their needs, this is a serious problem. They have the option of selling their home and receiving an inflated return, but finding a new home when inventory is [...]

By |2024-03-15T16:10:43-06:00March 7th, 2024|Finance, Reverse Mortgage Information|Comments Off on Reverse Mortgages & Inflation

5 Guaranteed Income Streams in Retirement

My dad was a successful realtor and investor in Orange County CA in the mid-60s to late70s. He was able to retire from the cash flow of his 20 rental properties at age 48. I learned the advantages of owning real estate such as: appreciation, leverage, cash flow as well as the tax advantages. During [...]

By |2024-03-15T16:36:40-06:00September 8th, 2023|Finance|Comments Off on 5 Guaranteed Income Streams in Retirement

When is the Best Time to Obtain a Reverse Mortgage?

This is one of the top questions I get from people. The answer is the day you qualify! I am 100% serious. Why is that? Because the program, the real estate market and interest rates are changing and not always in favor of the borrower. Here are some examples: since 2015, HUD, congress and the [...]

By |2024-04-02T18:27:25-06:00September 5th, 2023|Finance|Comments Off on When is the Best Time to Obtain a Reverse Mortgage?

What are the 3 Main Uses of a Reverse Mortgage?

What are the 3 Main Uses of a Reverse Mortgage? A reverse mortgage is a misunderstood, misrepresented and therefore under-utilized financial product. When people understand how they work, and how they can improve their lives, the reaction I hear most often is what’s the catch? Or, this sounds too good to be true! The truth [...]

By |2024-03-07T12:21:49-07:00August 28th, 2023|Finance|Comments Off on What are the 3 Main Uses of a Reverse Mortgage?

4 Decisions Senior Homeowners Need To Make When Getting a Reverse Mortgage

4 Decisions Senior Homeowners Need To Make When Getting a Reverse Mortgage (Click to Download) Many seniors are confused about reverse mortgages and if a reverse mortgage is the right choice for them. When they look on the internet, they see inaccurate and outdated information. As they ask their family, friends and neighbors, they have [...]

By |2023-10-12T18:27:41-06:00August 22nd, 2023|Finance, Reverse Mortgage Information|Comments Off on 4 Decisions Senior Homeowners Need To Make When Getting a Reverse Mortgage

The $1.5M Mistake a Senior Homeowner Can Make

I recently read a book where the author gives financial advice regarding housing for seniors. These options included: -Downsizing -Cohabiting -Selling the Home and Renting For some people I agree that downsizing may make sense where they can buy a home that better suits them in the stage of life they are in [...]

By |2022-05-16T14:45:55-06:00May 16th, 2022|Finance|Comments Off on The $1.5M Mistake a Senior Homeowner Can Make

What is a Retirement Mortgage?

Having been in the mortgage business since 2004, I can say with certainty there are no perfect people and therefore no perfect borrowers. Even though we are bombarded with what we should do, save 10-15% of our gross income, pay everyone on time, don’t get over extended, etc. Life happens.  For [...]

By |2022-05-16T13:30:13-06:00January 25th, 2022|Finance|Comments Off on What is a Retirement Mortgage?