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"The reverse mortgage is going to be a lifeline for millions of retirees in the years to come," Bankrate chief financial analyst Greg McBride told CBS MoneyWatch. "In large part that's because people may not have enough saved in their 401(k) plans or IRAs, and the bulk of their wealt...
Talk with the beneficiaries of your will when thinking about a reverse mortgage. The amount of their inheritance is reduced by the amount owed to the bank for the mortgage payments, as well as the amount deducted from the home. They may be able to provide other financial arrangements that ha...
If you want to be successful in the reverse mortgage space going forward, you have to learn to operate effectively with trusted advisors to build networks of referral partners... like we've done for three years... (Continue reading) Tagged with: Barry Sacks costs of a reverse mortgage FHA...
finances. Yet their parents don’t want to use the equity in their home and do a reverse mortgage now just so they can leave an inheritance for these kids. In essence the kids are using their funds to take care of their parents now in exchange for an inheritance after their parents are...
Provide an early inheritance The Equitable Bank Reverse Mortgage is a long-term financing solution for Canadians 55 years of age and older, that allows qualifying homeowners to convert a portion of their home equity into cash on a tax-free basis. With this reverse mortgage, borrowers are able ...
"It's truly one of the thorniest issues I hear about from a growing number of attorneys," said Diane E. Thompson, a lawyer at the National Consumer Law Center. Reverse mortgage lenders say that they abide by federal rules, noting that their goal is to avert foreclosures, which can be co...
The media has focused on two primary issues – reverse mortgage costs, and widows losing their homes. Yet, when meeting with professionals who understand the strategic uses of home equity, I find that we share a different set of concerns. But let’s address the media’s concerns before we ...
the significance of including interactions and provide detailed observations to resolve several disputed issues and make policy recommendations, such as debt priority of mortgage and credit card, applying HECM as a personal or household decision, and the dominance of property tax over inheritance tax.do...