reverse mortgage

3 Financial Scams Targeting the Elderly

Posted on: July 7th, 2015
A challenge seniors face is being the target of elder financial abuse. Aside from an unscrupulous family member mismanaging a senior’s assets, third party organizations use underhanded tactics to take advantage of seniors....

Reverse Mortgages – the Impact on Older Homeowners

Posted on: March 1st, 2011
From a recent AARP report: reverse mortgages offer older homeowners a way to tap home equity to meet financial needs in retirement. However, the collapse of the mortgage market in 2008–2009 has led to major changes that impact consumer choices. ...

Long-Term Care Planning: Is a Reverse Mortgage your best option?

Posted on: August 31st, 2010
Recently, I heard a story about a family who used a reverse mortgage. The mother has Alzheimer’s but is in great physical health. The father was in good health and was caring for the mother. ...

Reverse Mortgages can be Hazardous to your Equity

Posted on: October 24th, 2009
The National Consumer Law Center has come out with a report detailing the risks of reverse mortgages for senior homeowners. Because of high fees, interest rates and other issues, I generally do not recommend reverse mortgages, although for some they may be the only feasible way to access cash....

Reverse Mortgage Limits Double

Posted on: November 18th, 2008
The Housing and Economic Recovery Act of 2008 more than doubled the home value (now up to $417,000) to be used nationwide for establishing the size of loans available from the federal reverse mortgage program. ...
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