Month: March 2016

HECM Strategies Can Make Your Retirement Dollar Work Harder

HECM Planning May Be the Linch Pin in Your Retirement Plan Financial stability in retirement is critical to happiness in your golden years. Home Equity Conversion Mortgage (HECM) strategies can be the financial footings to help create a firm foundation to build a retirement system that can make your senior years really enjoyable. A financial course of action with HECM strategies can leverage retirement resources and bring seniors into the middle class. For those seniors age 62+, there are three basic HECM strategies that can be turned into retirement strategies that can have significant impact generating tax-free income, purchasing...

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Home Equity Line of Credit That Annually Increases

The HECM Equity Line of Credit May Be a Retiree’s Personal Bank The Home Equity Conversion Mortgage (HECM) equity line of credit can be used as your own personal lending resource or a retirement back-up cash reserve. The line of credit grows on the remaining unused balance unfettered from the current market value of the home. It could be the emergency resource for a retiree that can deliver instant cash for unseen expenses that come into play during retirement. There are differences between an HECM line of credit and a traditional home equity line of credit (HELOC). In general...

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Reverse Mortgage for Home Purchase Could Be the Next Big Thing

Using Home Equity to Eliminate Mortgage Payments Many seniors are looking for the ideal retirement home to enjoy their golden years. However, many have budget constraints that eliminate their dream home. But, a little-known strategy in the Home Equity Conversion Mortgage Program (HECM) may be able to make senior dreams come true. Reverse mortgage purchase may be the strategy to help purchase your retirement home. A reverse mortgage purchase can help you buy your retirement home. There are a couple of options in this strategy, but the most popular one is paying half the value of the home in...

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A Reverse Mortgage May Be a Blessing

Determining Your Suitability for Reverse Mortgage is the Key Senator Fred Thompson (R) died last year, but the reruns of his TV commercials touting reverse mortgages still run, as do many of the movies he’s starred in. You’ve seen TV and movie star, Henry Winkler, aka “the Fonz” promoting reverse mortgages. Yes … the Fonz is a senior now! Both of these reverse mortgage front men have introduced seniors into tax-free income during retirement using their home equity as collateral. A reverse mortgage is an alternative use of your home equity for tax-free income. In a traditional mortgage, you...

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Little Known Government Programs That May Save Retirement Dreams

Home Equity Conversion Mortgage Have Huge Impact during Retirement With all the money spent on commercials for reverse mortgages, you’d think seniors are up-to-speed on this unique government insured program that can generate tax-free income from their home equity. But there are additional programs under the Home Equity Conversion Mortgage (HECM) that could be the difference in barely getting by in retirement and truly enjoying your golden years. HECM loans are not a silver bullet for every retiree and they haven’t been good for everyone who has used them. But for many, these strategies are just short of a...

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