What is a Home Equity Conversion Mortgage (HECM)*?

A HECM reverse mortgage loan is a way to turn a portion of the equity in your home into cash. The proceeds from a reverse mortgage can be used to pay for unexpected expenses, such as nursing home costs or long-term care. It could also provide you with additional cash flow for all the expenses you have. As long as all loan terms are met, the loan does not require repayment until the last surviving

Home Equity and the Retirement Crisis

The constant consternation played out by retirees over the Home Equity Conversion Mortgage (HECM) is bewildering. People choose to struggle in retirement by completely ignoring the fact that they have equity in their home. Unlocking the equity in the home can greatly benefit the homeowner and make it possible to “age in place” more comfortably. A recent AARP Survey concluded that 76% of older adults prefer to age in place. Ultimately there is an impending

Not Your Mother’s Reverse Mortgage…

The reverse mortgage of today is NOT your mother’s reverse mortgage. This once shamed program is helping seniors from many walks of life fill retirement gaps, providing protection and stability through their golden years. Through the use of an FHA insured reverse mortgage, homeowners are able to tap into the equity in their homes without being required to make a monthly mortgage.  That’s right – a reverse mortgage CAN provide Colorado’s seniors with cash flow for life –

Is the NEW Reverse Mortgage Right For You

Are you like me and worry about what your retirement looks like? Have you ever thought about what your life would be like if you no longer had to make mortgage payments(except property taxes,  homeowners insurance and maintenance) or if  you had a cash reserve available that would allow you to lengthen/increase your retirement cash flow or cover unexpected expenses? The NEW reverse mortgage is a loan available for seniors 62+ who wish to supplement their

Reverse Mortgages Myths and Facts

It’s not every day that one inquires about a reverse mortgage. Consumers don’t have experience with reverse mortgages because unlike forward mortgages they are typically only done once in a homeowner’s lifetime. For this reason, there is a lot of misinformation Myth #1 the bank owns my home.  This is 100% not true.  You retain all ownership to the home.   You simply have a mortgage that is different than you’re used to.  You are not

7 Best Kept Secrets For Financing Home Care

Families need to understand their options when it comes to paying for senior care, but first, it’s important to understand the level of care you need. Senior care in the home can range from a couple of hours of help per week to 24-hour skilled nursing care. You may think that Medicare is the only option for long-term care, but Medicare only covers nursing and clinical care for acute conditions, usually following a stay in