Mortgages/ Taxes

  • Senior's reverse mortgage alternatives

    Oct 22, 2018 | Posted by the Editor, SeniorInsider

    One of the hottest topics among retirees appears to be a senior’s reverse mortgage. Assuming you are at least 62 years old and owe little to nothing on your home, you are likely eligible for a reverse mortgage which comes through the FHA and is typically known as an HECM, or Home Equity Conversion Mortgage. While the obvious upside to a senior’s reverse mortgage is the fact that you are given either a lump sum of cash or a monthly cash payment, with no monthly re-payments due, you should be aware of the significant drawbacks involved in a senior’s reverse mortgage before you sign on the dotted line.


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  • Reverse mortgage pros and cons

    Oct 22, 2018 | Posted by the Editor, SeniorInsider

    Researching reverse mortgage pros and cons are an important consideration when you are thinking of taking out a reverse mortgage. While you probably qualify for a reverse mortgage if you are over the age of 62, whether or not it is the right decision for you is another matter. Check out all the reverse mortgage pros and cons before you make up your mind, and get some expert advice if you have any qualms about the matter.

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  • Is a reverse mortgage for seniors for you?

    Oct 22, 2018 | Posted by the Editor, SeniorInsider

    Unfortunately, many senior homeowners have seen large chunks of their retirement disappear, making a reverse mortgage for seniors something they may need to consider.  Of course the shaky economy has hit people from all walks of life, but often seniors on a fixed income who may be unable to find work are hit the hardest. A reverse mortgage for seniors may allow you to meet financial obligations which have arisen such as doctor co-pays and prescription drug costs. The ongoing debate is whether a reverse mortgage for seniors is actually the best option for taking care of financial obligations.

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  • The advantages and disadvantages of seniors reverse mortgage

    Oct 22, 2018 | Posted by the Editor, SeniorInsider

    A seniors reverse mortgage can be a huge help for cash-strapped seniors who want to stay in their own homes but are besieged by ever growing expenses. It is believed there are over half a million seniors reverse mortgages out there, a huge increase from 2005, when there were around 100,000. Reverse mortgages first came on the scene in the 1960s, although most seniors were very hesitant to embrace this choice as a retirement planning option until relatively recently.  The top six seniors reverse mortgage markets are now in the entire state of California, New York City, Phoenix, Boston, Denver and Coral Gables, Florida.

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