Reverse Mortgage Articles By Kevin A. Guttman
Kevin Guttman – Reverse Mortgage Specialist Colorado
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 my career, I have met scores of people in various life and financial situations. What has been true is everyone wants cash [...]
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 FHA have made changes to the program, in some cases making it harder for someone to qualify -in the last year, real [...]
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 is reverse mortgages have been around since 1961, they started being regulated by HUD and administered by the FHA in 1988. And [...]
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 When they look on the internet, they see inaccurate and outdated information.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 a negative perception about reverse mortgages. Most people are not up to date with the changes that have happened in the last [...]
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?
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 [...]
