Residential Financing News!

While the overall divorce rate is going down, the “late-in-life” divorce rate is on the rise. In fact, the so-called “grey and silver” divorce rate is the fastest growing segment in America.But what makes senior divorce more complicated is the division of assets accumulated over many years of mar...

What makes a Reverse Mortgage different from other home equity loans?  A reverse mortgage is a non-recourse loan and that means that the home is held as collateral and is responsible for repayment of the loan – not the borrower.The interest rate of a reverse mortgage is locked in at the beginning...

Each day 10,000 people turn 62... and 46% will move during their golden years.If you’re a realtor or a builder, that presents you with a tremendous opportunity to expand your business in this untapped market.But with the prices of homes and building materials at historic highs, how do you get a p...

As a child of a senior homeowner, you have a growing concern about your parents as they age.One issue is that the configuration of your parents’ home may no longer meet their needs at this stage in their lives.So, what are your alternatives?Your parents could move in with you, but that may not be...

If you’re a senior homeowner, you’ve probably heard a lot about reverse mortgages.But you may be wondering, “Am I a good candidate for a reverse mortgage?”See if this describes your current situation to help you make an informed decision.You’re a borrower 62 or older and you want to remain in the...

You’re a senior and you’ve discovered that your current home is no longer meeting your needs.You’d love to move to make life easier, but with home prices reaching historic highs, you simply can’t afford it.Fortunately, there is a way to double your purchasing power and move into a newer home – a ...

As a financial advisor, you may be overlooking a significant planning tool… a reverse mortgage line of credit. The government regulated and insured FHA Home Equity Conversion Mortgage or HECM is designed to help seniors of every economic stratum.As recent peer reviewed studies conclude, it can be...

You’ve probably seen the headlines about inflation and how it is increasing the price we pay for everyday items like gasoline, food, and healthcare. But have you considered the impact inflation is having on your retirement savings? Social Security uses inflation as a benchmark to determine the co...

Are you a senior homeowner that feels your home no longer fits your needs? You don’t need the additional family space anymore, and maintaining a large home is expensive and can be a drain on your time and resources. It might be time to downsize and move into a one-story home or to a neighborhood ...

A frequently asked question about reverse mortgage loans is, “When do I have to pay it off?” There are several scenarios regarding when a reverse mortgage would have to be paid off. The first would be when the last borrower passes away or moves out for more than a year, so the home is no longer c...