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For many people nearing retirement age, home equity is usually the single largest component of net worth.  And, it can be a valuable contributor to retirement and financial well being — especially during this pandemic and time of monetary strain. You can tap home equity by downsizing, securing a reverse mortgage or getting a home…

Many retirees consider their home equity as part of their retirement plan. Because it is an investment that has grown over time, it’s often a major consideration as an asset that can be used to help influence cash flow and/or savings in retirement. If you have been considering a reverse mortgage as a way to…

You may be considering a reverse mortgage, or you may already have one. Like any financial decision, it’s a good idea to talk with family about the impact this kind of loan will have on your financial future—and theirs. Here are 5 things your heirs should know about your reverse mortgage: 1. They’ll still inherit…

For many retirees, the most important aspect of their retirement portfolios is stable investments. But what if you could find an investment that not only grows, but is also guaranteed by the federal government? Enter: reverse mortgages, and specifically the line of credit option available through the federally-insured Home Equity Conversion Mortgage pr oduct. The…

Falling interest rates can often signal a negative impact on a long-term retirement portfolio, as a lower rate environment means less money saved for retirement. But low rates can also have a silver lining for retirees, especially when it comes to reverse mortgages. The Federal Reserve has been keeping downward pressure on interest rates post-recession in…

One of the biggest benefits to the home equity conversion mortgage program is that, unlike conventional mortgages or home equity loans or lines of credit, you are not required to make monthly payments toward the balance of the loan. The federally-insured HECM program requires that loans be repaid when the borrower dies, leaves the home,…

A reverse mortgage is a loan. You are borrowing against your home equity. However, unlike traditional mortgages, with a reverse mortgage you do not have to pay back the money borrowed as long as you are living in the home. If a reverse mortgage is right for you, it can offer great financial relief. Reverse Mortgage…

The government-insured reverse mortgage product can be used in a variety of ways to help seniors age in place during retirement. Here are three little-known ways that seniors can use reverse mortgages: Purchase a New Primary Residence (HECM For Purchase) – One of the best features of the HECM program is the ability to purchase a…

Reverse Mortgage or HELOC – Which is Best?  If you’ve decided to tap into your home equity during retirement, there are a few different ways to go about doing this. Most likely, your options will come down to a Reverse Mortgage or a home equity line of credit, or “HELOC”. Reverse Mortgage vs. HELOC A…

Over time, many people have developed misconceptions about reverse mortgages based on inaccurate media coverage. The truth is reverse mortgages have never been safer and they’re a viable retirement option when they are understood. Here are several common misconceptions about reverse mortgages as well as the truths behind them. Misconception: The bank (or government) owns your…

The U.S. Department of Housing and Urban Development will be instituting major changes to the Reverse Mortgage program. Changes taking effect this month, effective September 30, 2013 include: Limits to the amount of money that you can access in the first year of the loan A new mortgage insurance fee structure which may mean higher…

The Reverse Mortgage Stabilization Act was signed into law on August 9th. As we’ve reported earlier, this new law gives the Department of Housing and Urban Development (HUD) the authority to strengthen the HECM Reverse Mortgage program by making significant, but not overly drastic adjustments. We expect HUD to announce these changes before the end…

The devastation in Oklahoma from the massive tornados is overwhelming. It is a human tragedy with entire neighborhoods flattened. Catastrophes like this serve as an important reminder to make sure you have the proper preparations in place should a natural disaster strike your home. Evacuations plans, emergency supplies and communication protocols are important. Equally important…

“When it comes to caring for your aging parents, do you ever feel like your siblings are putting too much of the responsibility on your shoulders? Whether it’s day-to-day care tasks or paying the bills, if the division of labor is making you angry, it’s time to take action. Find out what the experts advise.”…

Your decision to get a Reverse Mortgage should probably involve an analysis of your long term care plans. Research indicates that at least 70 percent of people over 65 will need long term care services at some point in their lives.  Many people secure a Reverse Mortgage in order to fund long term care services…

While we at Boldin are mostly focused on the financial aspects of growing older, a successful retirement generally means overall fulfillment and dating is an increasingly popular activity among older Americans. With extra leisure time, it is no wonder that seniors – many of whom have lost or divorced spouses – are looking to spend…