Reverse Mortgages 2014 In Review

The year 2014 saw many changes for the reverse mortgage industry, which for some is nothing new.  Over the past several years, the industry has gone through its fair share of changes.  Reverse Mortgage Daily compiled its 10 most read articles of 2014 ranging from the exit of Generation Mortgage to the new Non-Borrowing Spouse regulation.  Bring yourself up to speed and click here to read all the stories that impacted reverse mortgages during the year.

MarketWatch Says Reverse Mortgages Better Than HELOCs for Some

According to MarketWatch, a reverse mortgage may be a better alternative for some when compared to a home equity line of credit (HELOC).  The article provides three options on how to access one's home equity:  reverse mortgages, HELOCs and home equity loans.  The only option that does not require a monthly payment is a reverse mortgage, and the article cautions readers to consider the risk of losing your home if you can't make the payment.  Read the entire article here.  And find out more about reverse mortgages here.

Retiring With A Reverse Mortgage

A reverse mortgage is becoming more widely accepted as a retirement planning tool.  Recently, the mainstream media has been publishing more news articles in relation to reverse mortgages being a viable option for retirement.  For many senior homeowners, their home is their greatest asset in which a reverse mortgage can help them utilize that asset.  The online resource, Investopedia, just published an article titled "Steps To Retiring With A Reverse Mortgage".  It offers advice and tips on how to retire with a reverse mortgage.  Read the entire article by clicking here.

Reverse Mortgages Tighten Rules For The Better

Reverse Mortgages continue to go through changes to strengthen the program for the future and to further protect senior homeowners. The Wall Street Journal posted a recent article pointing to this.

Senate Examines Pending Retirement Crisis

Middle-class Americans have virtually no savings in their retirement accounts due to financial crisis and economic recession that we have seen in recent years.  The deterioration of 401(k) plans and IRAs coupled with the uncertainty of Social Security has more Americans looking for additional sources of income.  The Senate stated that during the stock market plunge of 2008 and 2009, those retirement accounts lost a total of $2 trillion in value.
The financial planning community is advising that Reverse Mortgages by included as part of one's retirement plan.  Reverse Mortgages are recently being looked at as an option to fulfill the income lost from the deterioration of other retirement assets.

For more information on how reverse mortgages may solve retirement problems, visit www.reversemortgagebenefit.com.

Reverse Mortgages Can Help Avoid Taxes

Reverse Mortgages are being utilized more than ever to supplement one's retirement income. Homeowners and financial planners are using a reverse mortgage to help stave off taxes, as indicated in a recent article in the Herald and News.  Reverse mortgages can be a much better option than taking money out of one's 401(k) and being taxed at likely rates of about 28 percent for federal and 9 percent for state. Since there is no tax on reverse mortgage proceeds, this option can help pay the least amount of taxes over the long term. And, keeping the money in the 401(k) will continue to earn interest which will offset the interest of the reverse mortgage loan.  Read more at HeraldandNews.com.