Financial Planning Articles

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 |2023-09-08T07:22:25-06:00September 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 |2023-09-05T15:31:14-06:00September 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 |2023-08-28T18:05:10-06:00August 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 When they look on the internet, they see inaccurate and outdated information.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?

Reverse Mortgage Counseling

Reverse Mortgage Counseling One of the safeguards a reverse mortgage has is required face to face or phone counseling with an independent 3rd party. The cost is minimal, and is paid before any paperwork is signed. Counseling usually happens after meeting with a Reverse Mortgage Specialist. The counselor is looking to [...]

By |2021-07-28T07:46:46-06:00June 16th, 2021|Finance|Comments Off on Reverse Mortgage Counseling

If Everything You Thought About Reverse Mortgages Was Wrong, How Soon Would You Want To Know

One of the most misunderstood mortgage programs is a Reverse Mortgage. To be fair, early on there were some abuses, which in large part have been remedied. Today, a Reverse Mortgage is the choice for many senior homeowners approaching or in retirement. Here is a list of reasons why. No mandatory, [...]

By |2021-07-28T07:46:58-06:00May 14th, 2021|Finance|Comments Off on If Everything You Thought About Reverse Mortgages Was Wrong, How Soon Would You Want To Know

How much money do you get from a reverse mortgage?

We rack up our pennies to save for retirement most of our adulthood. However, come retirement, most of us have less than 100,000$ saved up. With debts constantly increasing and income staggering, many citizens are unprepared for retirement. Thankfully, for homeowners who are at least 62 years old, a reverse mortgage [...]

By |2021-05-14T09:45:12-06:00May 10th, 2021|Finance|Comments Off on How much money do you get from a reverse mortgage?

How does a reverse mortgage work When You Die?

Reverse mortgages are credit advances that allow the elderly to borrow against their home equity during their retirement years. Unlike traditional mortgages, borrowers don’t have to make a monthly payment on their reverse mortgage.  The Kevin A. Guttman team of mortgage professional are here to help you every step of the way. In [...]

By |2023-11-20T20:42:32-07:00March 10th, 2021|Finance|Comments Off on How does a reverse mortgage work When You Die?

Reverse mortgage calculator

How a Reverse Mortgage Calculator works A senior homeowner's biggest question is how much money can they get with a reverse mortgage? First, let’s talk about how this amount is determined. For most reverse mortgages, they are regulated by the Federal Housing Administration (FHA). The formula comprises of: the age of the youngest borrower, [...]

By |2021-02-24T08:43:30-07:00February 2nd, 2021|Finance|Comments Off on Reverse mortgage calculator

Heloc vs Reverse Mortgage

Home Equity Line of Credit vs Reverse Mortgage Line of Credit What are the differences and similarities between a reverse mortgage line of credit and a home equity line of credit? HELOC RMLOC Requirements for income and creditworthiness. No requirements for income and credit score. Homeowners must still make [...]

By |2021-03-08T16:23:40-07:00January 11th, 2021|Finance|Comments Off on Heloc vs Reverse Mortgage

The 4 Biggest Risks for Senior Homeowners

As senior homeowners approach retirement, there are 4 big risks they face, which are: Healthcare costs Inflation Longevity, and Taxes Risk 1 - Healthcare It seems as if each week or month the rising cost of healthcare is in the news. Politicians can’t seem to figure out what to do about this and [...]

By |2021-02-05T14:39:19-07:00December 4th, 2020|Finance|Comments Off on The 4 Biggest Risks for Senior Homeowners

Mistakes to avoid when getting a Reverse mortgage

Like every other type of loan, taking a reverse mortgage in Colorado can be a financial disaster or a smart move depending on your financial situation and circumstances. It is a disaster for some people because they make certain mistakes that could have been avoided. Thus, if you’re planning to take a reverse [...]

By |2021-02-12T13:19:56-07:00November 24th, 2020|Finance|Comments Off on Mistakes to avoid when getting a Reverse mortgage

Benefits Of Obtaining A Reverse Mortgage

Are you about to retire from work, and you’re putting things in place to have a lovely retirement? Then, going for a reverse mortgage in colorado is an option you might want to opt for. You’re qualified to get a reverse mortgage if you are over 62 years, and you own a home [...]

By |2021-02-12T13:22:57-07:00November 24th, 2020|Finance|Comments Off on Benefits Of Obtaining A Reverse Mortgage

Who is a Good Candidate for A Reverse Mortgage?

The son of a senior homeowner asked me recently if his parents were good candidates for a reverse mortgage? These are the questions I asked him. How long do your parents plan to live in their home? If at least 18-24 months or more, then it may make sense as it may take that long [...]

By |2022-11-22T14:20:50-07:00November 10th, 2020|Finance|Comments Off on Who is a Good Candidate for A Reverse Mortgage?

The Mortgage That Sounds Too Good To Be True

There is a mortgage available to senior homeowners that qualify that truly sounds too good to be true! What does this mortgage look like? no mandatory monthly mortgage payment required decrease monthly expenses and increase cash flow access and unlock equity, when equity is accessed it is not taxed earn compound interest on equity, guaranteed [...]

By |2021-02-05T14:45:14-07:00November 4th, 2020|Finance|Comments Off on The Mortgage That Sounds Too Good To Be True

What’s the Best Mortgage in Retirement?

Life Stages Different mortgages fit different stages of life. For example, a first-time homebuyer benefits from an FHA mortgage as it has a low down payment threshold and easier underwriting criteria. A move-up buyer may use a Conventional or Conforming loan, that offers higher loan limits. Someone living outside the city benefits from [...]

By |2021-02-12T13:26:17-07:00October 28th, 2020|Finance|Comments Off on What’s the Best Mortgage in Retirement?

Rethinking What Seniors Leave to Their Kids

Pressurized Environment for Seniors Senior homeowners are facing pressure as they live on a fixed income in retirement. They fear running out of money as they survey the economic landscape of rising health care costs, inflation, pending tax increases. Then there is the wildcard of longevity risk. As baby boomers are healthy and [...]

By |2021-02-05T14:53:27-07:00October 23rd, 2020|Finance|Comments Off on Rethinking What Seniors Leave to Their Kids

What Are End of Life Concerns?

The Wall Street Journal on October 6, 2020 had an article about last instructions should you become incapacitated or die. Here are the top five concerns people have: Not being a burden to my loved ones Having some control over medical interventions Being the one to decide what happens to my belongings Being sure that [...]

By |2020-10-09T11:27:13-06:00October 9th, 2020|Finance|Comments Off on What Are End of Life Concerns?