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Reverse Mortgage Articles By Kevin A. Guttman

Kevin Guttman – Reverse Mortgage Specialist Colorado

The $1.5M Mistake a Senior Homeowner Can Make

May 16th, 2022|Comments Off on 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 (i.e. empty nesters, may not be able to navigate the stairs, don’t need as big of a home, may not want to [...]

What is a Retirement Mortgage?

January 25th, 2022|Comments Off on 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 example, there have been 7 recessions in my lifetime.  In the last 60 years, one third of the time the Dow Jones [...]

Reverse Mortgage Counseling

June 16th, 2021|Comments Off on 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 make sure a senior homeowner understands how a reverse mortgage works and how it may benefit them in their golden years. For [...]

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

May 14th, 2021|Comments Off on 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, monthly Principal and Interest Mortgage payment is required. Responsibility for repayment is transferred from the borrower to the home. The term of [...]

How much money do you get from a reverse mortgage?

May 10th, 2021|Comments Off on 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 is a great way to boost your income. As long as you occupy your home and build sufficient equity, you can fall [...]

How does a reverse mortgage work When You Die?

March 10th, 2021|Comments Off on 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 fact, a reverse mortgage is a particular type of loan that converts some of your home equity into cash. This loan allows [...]