Posts Tagged ‘Home Equity Conversion Mortgage’
Is It Time to Refinance Your Mortgage?
Worries about coronavirus have battered stocks and sent investors fleeing to the safety of U.S. government debt. On Friday, the yield on the 10-year Treasury note fell below 0.7% for the first time. Earlier this week, the Federal Reserve cut its benchmark rate to a range between 1% and 1.25%. Mortgage rates are expected to…
Read MoreForbes: Reverse Mortgages Can Help Pay for Long-Term Care
Because there are notable gaps in the coverage of long-term care (LTC) services in the Medicare program, one possible path to funding such services could be through the use of a reverse mortgage. This is according to Diane Omdahl, a former technical expert for the Centers for Medicare and Medicaid Services (CMS) and a Medicare…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
Read MoreMortgage Rates Are at 3-Year Lows—Here Are 5 Questions to Ask Yourself Before You Refinance
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on the heels of lower mortgage rates,…
Read MoreFinancial Planner: Reverse Mortgages Can Offer Path to Retirement ‘Paycheck’
Managing finances in retirement can be difficult for a senior, most especially if someone is already strapped for cash. That makes the possibility of regular cash flow in addition to pre-existing benefit programs very attractive, and reverse mortgages can offer some seniors a viable path toward just such a path. This is according to a…
Read MoreMortgage Rates Are at 3-Year Lows—Here Are 5 Questions to Ask Yourself Before You Refinance
Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on the heels of lower mortgage rates,…
Read MoreBarron’s: Jumbo Reverse Mortgage Can Help House Rich Seniors
For seniors who own homes with a notable amount of equity, proprietary jumbo reverse mortgages can be a viable option to explore when looking for the means to pay down an existing, forward mortgage or fund retirement. This is according to an article appearing at financial news outlet Barron’s. Particularly for seniors who live in…
Read MoreA Quarter of Middle-Aged Americans Worry They Can’t Afford Health Care
A large fraction of Americans nearing retirement age are worried they can’t afford health insurance now, much less when they quit working to enjoy the good life, a new survey shows. One in every four people between 50 and 64 are not confident they’ll be able to afford health insurance during the next year, and…
Read MoreThe No. 1 Thing People With Fat Savings Accounts Scrimp on That You Likely Don’t
Housing may be the key to bigger savings. Earlier this week, a Reddit post — from a 48-year-old woman claiming to be a millionaire despite having only low-paying jobs until about age 30 — went viral, and in it she details some extreme frugality. She says she saves tea bags so she can make multiple…
Read MoreForbes: Jumbo Reverse Mortgage a Viable Alternative Financing Option
For Americans who find themselves in unique financial situations requiring forms of financing that may serve as alternatives to more traditional, forward mortgage loans, numerous financial products exist that can potentially serve customers in such situations more efficiently than traditional financing. One of these alternative methods is a jumbo reverse mortgage, according to Melissa Cohn,…
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