What Heirs Should Know About Reverse Mortgages

Kiplinger recently published an article that gives advice to the heirs of a reverse mortgage borrower.  The heirs should be aware that they are to contact the reverse mortgage lender immediately once the last reverse mortgage borrower has died.  This will be in favor of the heirs because the clock begins ticking on the date of death, which is the amount of time given to the heirs to make a decision on whether they want to keep the house, sell it or turn over the keys to the lender.  Another important thing to note is that the amount that's due to the lender is the lessor of the reverse mortgage balance or 95% of the appraised.  If there is no equity left in the home, then the beneficiary can simply turn over the keys to the lender without any recourse: that means the lender cannot go after the estate or the beneficiaries' assets for payment.

Learn more about this topic and other reverse mortgage topics at www.reversemortgagebenefit.com.

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 As A Retirement Alternative

The Journal of Financial Planning recently published a detailed article on the baby boomer economy and retirement trends.  As stated, there is a need in our economy to have alternative sources of retirement income for those who are retired, close to retirement and even those who are planning to retire in the next 30 to 40 years.  Study shows that a person's home stores about two-thirds of their wealth, which means that one's home will grow in importance in relation to their retirement portfolio.  A reverse mortgage works by tapping into the home asset to provide cash to help supplement retirement.

Learn more about how to use a reverse mortgage for retirement planning by visiting:
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.

Reverse Mortgages and Retirement Planning

Reverse mortgages are being considered more and more as a financial retirement tool for senior homeowners.  The financial planning community has realized the potential of using the equity in one's home by way of a reverse mortgage to help fund retirement.  There are certain reverse mortgage payment plans that work better to meet the needs of those who are not necessarily in immediate need of money but rather are looking for ways to extend their assets to last their lifetime.

InvestmentNews recently published an article discussing the new uses of a reverse mortgage for financial planning, and various other individuals have published similar articles.

For more information on reverse mortgages and to be put in touch with a reputable reverse mortgage lender, visit our website at:  www.reversemortgagebenefit.com.

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New Reverse Mortgage Products

There have been more reverse mortgage products introduced in the last few months than the industry has seen in quite some time.  The latest announcement is a fixed rate product that provides the most flexible payment plans without limitations on how much money can be withdrawn in the first year.

Contact us to learn more about reverse mortgages and to be referred to one of the top reverse mortgage lenders in the industry.

Learn more about reverse mortgages at HUD's website: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/hecmhome

Also, learn about the Top Ten Frequently Asked Questions: http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/sfh/hecm/rmtopten

Learn about the recent product announcement: http://reversemortgagedaily.com/2014/02/18/live-well-releases-fixed-freedom-reverse-mortgage-product/?utm_source=Reverse+Mortgage+Daily&utm_campaign=c32d0e29c3-RMD_Daily_Email_2_20_142_19_2014&utm_medium=email&utm_term=0_48b4357284-c32d0e29c3-21285 


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Housing Recovery Back to Normal

The housing market continues on its road to recovery, as now one in six metro areas nationwide have either returned to or exceeded their previous norms and the national market edges 86% back to normal, according to the National Association of Home Builders (NAHB).  According to David Crowe, Forty-five percent of metro areas are recovering at a faster pace than the nation as a whole.  This is continued good news for the national housing market.  Read the entire article at:  http://www.nahb.org/news_details.aspx?sectionID=2694&newsID=16608