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- Wade Pfau, Professor at The American College, shares about the HECM For Purchase in Forbes. He outlines how seniors can use the reverse mortgage to their advantage for purchasing a new home.
- Family Circle magazine did an article, A Mortgage That Pays You, interviewing nationally syndicated financial columnist Terri Savage, who helped her father get a reverse mortgage as well as the National Reverse Mortgage Lenders Association (NRMLA) president and CEO Peter Bell.
- Great article by Wade Pfau in Forbes on why taking a HECM Reverse Mortgage before it’s needed is a wonderful financial planning and long term care planning tool, Why Open A Reverse Mortgage Before It Is Actually Needed. Call us if you would like to learn more, 651-762-9648.
- A panel of experts are Debunking The Myths Surrounding A Reverse Mortgage.
- Bankrate reminds Reverse Mortgage money can be used for any reason.
- Find smart advice on using a reverse mortgage to age in place in this MarketWatch article, “How To Use Home Equity To Fund Retirement.”
- “In some circles, reverse mortgages and home equity have a bad reputation when it comes to retirement planning. But Jamie Hopkins of the American College says these can be critical engines for retirement income.” Watch Investment News video here: http://alturl.com/x94d4
- In his article in Forbes, “Relocating In Retirement: Don’t Make These Common Mistakes“, Jamie Hopkins states, “more seniors should consider putting some money down and financing a portion of the home with a HECM for Purchase, which is a variation of a reverse mortgage.”
- “Retirement consumption improves because a Reverse Mortgage provides access to a new source of funds.” says Joe Tomlinson in How To Rescue An Underfunded Retirement in Advisors Perspectives.
- HuffPost reports in their post, “Are Majority of Reverse Mortgage Borrowers Satisfied? Recent Study Says…: “The best news of all was that most people who take out these home loans are satisfied with all is said and done.”
- In Bankrate.com, Marcie Geffner outlines, When your parent dies and leaves a reverse mortgage, this is what you can expect
- CBS 2 Cost Cutter Dorothy Tucker shows who could benefit the most from a reverse mortgage in How Does A Reverse Mortgage Work?
- Investment advisor,Terry Savage, shares her personal experience with reverse mortgages in the Chicago Tribune article, Reverse Mortgages: A personal look.
- The New York Times shares The Quiet Comeback of Reverse Mortgages with stories on how reverse mortgages have been used for retirement planning and meeting goals.
- A reverse mortgage could work, but know the risks in the StarTrib shares ways of using the reverse mortgage.
- Are You Ever Too Old For A Reverse Mortgage Loan? Find the answer in the Bankrate.com article
- Wade Pfau shares, “Financial planning research has shown that coordinated use of a reverse mortgage starting earlier in retirement outperforms waiting to open a reverse mortgage as a last resort option once all else has failed.” in Forbes, Using Reverse Mortgages in A Responsible Retirement Income Plan.
- The Wall Street Journal’s article, New Thinking About Reverse Mortgages, reviews how younger retirees may benefit from using reverse mortgage lines of credit as interest rates rise.
- A well written piece: The real story on Trump’s Treasury Pick and Reverse Mortgages. This is not a political statement, but informative that Reverse Mortgage foreclosures are different than with typical mortgages.
- Seattle Times shares, “Debunking 7 common misconceptions about reverse mortgages.”
The Today Show gives options for funding long term care including a reverse mortgage: If you don’t have $250,000 to spare, how to pay for long-term medical bills
- The Minneapolis Star Tribune shares Reverse Mortgage Line of Credit Could Fund Long Term Care
- The Chron shares “What reverse mortgage financial assessment means to you.”
- Older homeowners who are ready to say goodbye to the burden of a mortgage payment may consider paying off their traditional home loan using their home’s equity — through a reverse mortgage: Using a reverse mortgage to pay off your first mortgage
- Dirk Cotton, financial planner, shares Ten Strategies for Using A Reverse Mortgage to Help Fund Retirement.
- Investment News shares how Reverse Mortgages can be beneficial: Gray divorce on the rise with longevity trend.
- Huffington Post helps answer the question Is Reverse Mortgage Beneficial for Retirees? Check it Out.
- WealthManagement.com suggests “Revisiting Reverse Mortgages” and how they can be used for planning, stating, “You and your clients should be aware of the unique properties of reverse mortgages and how they can help homeowners in good times and bad.”
- Bankrate.com answers the question, Should you use a reverse mortgage to pay off your traditional mortgage?
- Look at how a reverse mortgage can save your retirement as published in The Huffington Post.
- USNews.com shares “Six Facts To Know About Reverse Mortgages.”
- In Money’s “In New Retirement,” Jane Bryant Quinn, author of How to Make Your Money Last: The Indispensable Retirement Guide shares new rules for reverse mortgages have removed some of the pitfalls that made them problematic in the past: Why A Reverse Mortgage Could Be Right For You.
- The Fiscal Times shares Why Retirees May Want to Take Another Look at Reverse Mortgages.
- Consumer advocates now say that taking out a reverse mortgage could be a smart way to bring in more money. View the NBC piece addressing the question, Could getting a Reverse Mortgage help you save money?
- Scott Burns shares home equity may be the difference between a comfortable retirement and a miserable one in his article, “Why reverse mortgages are important.”
- Wall Street Journal points out that advisers are now promoting reverse mortgages as a valuable tool for retirement planning in their article “New Math on Reverse Mortgages.”
- “Initiating the reverse mortgage earlier and coordinating spending from home equity throughout retirement can help meet spending goals while also providing a larger legacy. That is the nature of retirement income efficiency: using assets in a way that allows for more income and/or more legacy.” Wade Pfau Forbes: Wise Reverse Mortgages Can Be the Saving Grace of Unprepared Retirees
- In an article in Investment News, How reverse mortgages can stave off Medicare surcharges, Katy Votava shares another idea of why one should consider a reverse mortgage.
- CBS Money Watch shares 10 things you should know about reverse mortgages and how they can be a helpful financial tool.
- In a Wall Street Journal article,The New Case for Reverse Mortgages,
Wade Pfau points out reverse mortgages have undeserved reputation and that there are reasons why Reverse Mortgage taken earlier in Retirement has potential to improve retirement efficiencies.
- Reverse Mortgages Can Be A Retiree’s Saving Grace according to Jamie Hopkins in Forbes. “Robert C. Merton, a finance professor at MIT’s Sloan School of Management, recently stated ‘Americans have wrongly steered clear of reverse mortgages.’”
- Michael Lazar shares How A Reverse Mortgage Can Benefit Widows, Widowers in The Huffington Post.
- The Huff Post shares Top 10 Reasons A Reverse Mortgage Might Be Right For you.
- A Reverse Mortgage is one option Janet Kidd Stewart shares on How to Protect Retirement Assets from Stock Market Volatility in the Chicago Tribune.
- HuffingtonPost shares a good review of What happens during a Reverse Mortgage Counseling Session?
- How to have a reverse mortgage success story is the topic of Robert Massi’s Cashin Show.
- Robert Massi discusses Is a reverse mortgage right for you? at FoxNews.com.
- Bankrate, author, Marcie Geffner. writes on what happens with the reverse mortgage after the borrower passes away.
- Actions speak louder than words writes Terry Savage her article in the Huff Post, Reverse Your Mortgage, sharing info about reverse mortgages and that she helped her father take out a reverse mortgage almost 20 years ago and at 93 he is still living in the condo and the reverse mortgage worked for him. The one correction to the article is that lenders have not charged a servicing fee for several years now.
- Changes are coming to reverse mortgages on April 27, 2015: Washington Post, Window is rapidly closing to get a hassle free reverse mortgage.
- Should You Take Advantage of a Reverse Mortgage With Current Low Interest Rates? In the Huff Post Financial Education article, John Salter thinks so. “Now, the reverse mortgage market has opened up where it is a much more reasonable cost to get one. I think for someone that owns a house and plans to stay there that a line of credit is something that they should look at for sure.”
According to an article in the Wall Street Journal by Wade Pfau, How to Increase Your After-Tax Wealth in Retirement, proceeds from a reverse mortgage or from the cash value of life insurance could be used in such a way to boost spending without increasing taxable income.
- Changes are coming with Reverse Mortgages but that doesn’t mean one won’t qualify. Read more in New Retirement’s article, “Reverse Mortgage Borrowers: Have No Fear as Financial Assessment Nears“
- FoxBusiness shares “Seniors Explain: Why We Got A Reverse Mortgage”
- In the Wall Street Journal Wade Pfau outlines “The Case for Reverse Mortgages“ as the financial term those nearing retirement need to better understand.
- The article, “Reverse Course When A Borrower Dies” published in The Wall Street Journal reviews heirs need to act quickly with a statement of intent to avoid foreclosure being initiated.
- Once-Troubled Reverse Mortgage Poised for Rebound. “We had a look at whether we wanted to move into a senior living facility, but that was more expensive, so we decided to stay with the house,” Griffin said. “We like our neighbors very much so this was the best way to go,” states Myles Griffin in the ABC story,
- University Professors research Reverse Mortgages and set the record straight. Take the time to listen to this podcast and get the facts about reverse mortgages.
- Reverse Mortgage Can Be a Useful Financial Tool was published in the Houston Chronicle.
- Reverse Mortgages are catching the eye of Financial Planners. “IDEA 27: A reverse mortgage line of credit can provide emergency funds for seniors who lack liquidity” was stated in New Rules for Reverse Mortgages in their 30 days/30 Ways in Financial-Planning Magazine on line. While a good article, there are a couple misstatements. 1) Stating the closing costs are quite high where in reality they are comparable to traditional mortgages. 2) The Financial Assessment in the article has not been implemented to date.
- FoxBusiness picked up and shared the positive and accurate Bankrate article, “Using a Reverse Mortgage to Pay Off First Mortgage.”
Using a reverse mortgage as a financial planning tool for paying off a 1st mortgage or have funds for an emergency is outlined in Bankrates article, Reverse Mortgage to pay off 1st Mortgage. Financial Advisor Magazine has an article on what “Advisors need Reverse Mortgage Knowledge, Says Lender.“
Bank Consultant Investment shares Reverse Mortgages: What Advisors Should Know and states, “One powerful application is using the reverse mortgage line of credit option as a Bear Market Standby Account.”
An article in Mandelman Matters, Heirs of Reverse Mortgage Holders Should be Happy, Happy, Happy, responds to “… the children of elderly borrowers are learning that their parents’ reverse mortgages are now threatening their own inheritances.” That’s a sentence from Jessica Silver-Greenberg’s recent article for the New York Times on reverse mortgages, titled: Heirs of reverse mortgage holders may inherit the pitfalls, too.
- “As baby boomers age, reverse mortgages are expected to gain popularity as a means of covering living expenses. “Retiring on the House/Reverse mortgages for Baby Boomers” was published in The New York Times.
- The Wall Street Journal writes about “A Kinder, Gentler Reverse Mortgage/Tighter Regulations Should Make Them Safer.”
- Alyson Cummings did a fantastic job on her article in the MN Good Age newspaper, “Live in & cash out, too.”
Bank of America is exiting reverse mortgages. Servicing will continue on current loans so no worries if your loan is with BoA! It was a BoA business decision. OTHER REVERSE MORTGAGE LENDERS ARE STILL SECURE AND OFFERING REVERSE MORTGAGES AND WILL CONTINUE TO DO SO. Reverse Mortgages SIDAC can assist with reverse mortgages in Minnesota as we work with more than one lender.
- Understand Reverse Mortgage Options by Terry Savage was published in the Chicago Sun Times.
- After a segment full of misinformation on reverse mortgages Fox & Friend’s Bob Massi did a second segment on “Reverse Mortgages: What You Need to Know.”
- Yes, the older one is the more funds they can receive however, waiting until one is older before doing a reverse mortgage may not necessarily mean more funds. This is because of potential changes in the market including higher interest rates (which affect the amount one can borrower) and potential cuts in the Principal Limit expected to be made by HUD.
- And to the statement that the loans aren’t cheap I want to note that reverse mortgages have the same costs as conventional or traditional mortgages… the difference is the FHA Mortgage Insurance Premium. See a cost comparison at: “Reverse Mortgage Costs – High or Mythical?” and an explanation of the costs at: “Do You Understand The Reverse Mortgage Closing Costs?”
- ABC Good Money does a good piece on reverse mortgages. View video.
- “Silver Tsunami: Making The Case For Reverse Mortgages” published at www.financial-planning.com is a positive article on the benefits of reverse mortgages for financial planning.
- In response to the media coverage on reverse mortgages that is providing false and misleading reverse mortgage information such as the October 25, 2009 Parade Magazine “Intelligence Report” written by Gary Weiss read Beth’s latest Blog article: “One Bad Apple Spoils The Bushel of Reverse Mortgages.” You’ll be surprised on the number of fraudulent bad apples in the reverse mortgage industry. (If you read the Parade Magazine article, be sure to read the comments that follow.) “The Media Needs The Reverse Mortgage Facts, But Wait, There’s More…Reverse Mortgage Facts The Media Needs to Know and It Is NOT Reverse Mortgage Fraud When…are the latest posts in Beth’s Reverse Mortgage Blog addressing the misleading and incorrect information the media is reporting.
- Tom Kelly wrote an article addressing the negative, reverse mortgage bashing that is happening. Read, “Reverse Mortgages shouldn’t be lumped into ‘bad’ category” in the August 16, 2009 issues of The Spokeman-Review.
- Today Show’s guest, real estate agent Barbara Corcoran shares tips for people considering a reverse mortgage in these tough economic times. View by clicking here: http://today.msnbc.msn.com/id/26184891/vp/31367841#31367841
- Finance and Commerce quotes Beth Paterson regarding Governor Pawlenty’s veto of the Minnesota reverse mortgage bill SF489/Chapter 127. Click here to read the article.
- Pioneer Press covers Minnesota mortgage laws in Saturday, May 23rd, Business section. To read the comment on reverse mortgages in Minnesota click here to read.
- The Reverse Mortgage Daily has kept the industry up to date on the Minnesota legislation. You can view one of their articles, “Minnesota Reverse Mortgage Bill Sent To Governor For Signature” by clicking here.
- Reverse Mortgages SIDAC clients were featured in the Twin Cities Star Tribune. Click here to view the article, “Cashing Out The Nest Egg”.
- Suze Orman was asked a question about whether a viewer’s father should consider a reverse mortgage. Click here to watch the video with Suze Orman’s answer.
Reverse Mortgages SIDAC
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