Retirement Home Equity Advisors

If you're retired or near retirement and this 32% drop in the stock market will affect your retirement income, a reverse mortgage may be the solution you need.

Think about this, if someone had a portfolio valued at $1,000,000 and they were taking 4% distributions of $3,333/mo and it lost 32% of its value, that could take their monthly income down to $2,267/mo. Would $1,066/mo reduction in income affect their retirement? Probably! Taking money out of investments in a down market really hurts.

If you have a reverse mortgage you could have access to some home equity in a credit line that is guaranteed to grow and compound regardless of what happens to the home's value. And a monthly payment is never required. Plus, the income received is tax free.

Now is the ideal time to get a reverse mortgage if you're 62 or older - rates are low, home values are high so you'll get the highest amount now. Don't wait for values to go down!
If you, your family or friends, or clients are 62 or older and own a home with a lot of equity (or free and clear) you really should get educated about this option to provide some security in these times of volatility.

Message me if you want to learn more.

We have conventional options that allow you to move in with just 3% down. Call to apply and purchase your dream home today!

Thank you for your service!

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Are You Underestimating Your Retirement Costs? Bad idea. You may be well on your way to a dangerous shortfall.

For the average American couple at age 65, home equity makes up more than two-thirds of their total wealth. Unlocking that wealth just might make sense. This article in the Financial Planning Journal explains to us why.

Do you consider housing wealth to be a part of your retirement plan? If not, why not?

Journal The Effect of Low Reverse Mortgage Literacy on Usage of Home Equity in Retirement Income Plans Jamie Patrick Hopkins, J.D., LL.M., RICP®, ChFC®, CLU®, holds the Larry R. Pike Chair in Insurance and Investments at The American College of Financial Services and is an associate professor of taxation and co-director of The American College New York Life Center for Retirement Income in Bryn Maw...

Personal Finance Expert, Jane Bryant Quinn, explains to us why it may be smart to look at the Home Equity Conversion Mortgage as an option.

Do you consider Housing Wealth to be a part of your retirement plan? If not, why not?

Why a Reverse Mortgage Could Be Right for You Reverse mortgages are better than they used to be.

As this week comes to a close, I reflect on the new clients I have been blessed to begin helping. Two of them really stand out amongst the rest because their situations are a perfect representation that the HECM is not a product that is suited for just one type of situation, as many would think.

The first is a wonderful woman in Illinois who has been supplementing her retirement income with credit cards for the last several years. We will be able to pay off that debt and the 2 Mortgages she carries. The HECM for her means no longer having the burden of “Robbing Peter to pay Paul”. The ability for her to finally be free of that debt and live the rest of her days comfortably in her home.

The second is an amazing couple in Washington, one of which is a retired Attorney. They have no “need” for a HECM per se, but have decided that it is just a smart financial option for themselves. They understand the idea that creating liquidity from an otherwise illiquid asset is absolutely beneficial for them. The HECM for them means putting the icing on the cake and sealing the deal for their financial security now, and in the future.

My clients show us that there is not a one size fits all scenario to this loan. These are two situations from different ends of the spectrum, and everyone in between can benefit as well. No matter what your situation, unlocking your housing wealth just might make sense.

What would a HECM mean for you?

It's encouraging to see some truthful, positive press finally coming out about this program. I predict we will be seeing more and more of this in the near future. Don't allow rumors, assumptions, and misinformation deter you from taking a closer look folks. Learn the facts and look at the numbers, THEY DON'T LIE.

Could Getting a Reverse Mortgage Help You Save Money? Consumer advocates now say that taking out a reverse mortgage could be a smart way to bring in more money.

This article is written by Jamie Hopkins, he is the Associate Professor of Taxation at the American College of Financial Services in the Retirement Income Program. AND is Co-director of the New York Life Center for Retirement Income (that is a mouthful😬).

He says:

“More attention needs to be paid to home equity as a potential retirement income source. Retirees need money, but are ignoring their largest asset.”

And I say... Amen!

For many, your home is your LARGEST NON PERFORMING ASSET!

A HECM is an incredible way to make your home start working for you, instead of draining you. There is no downside at all to taking a closer look. Certainly take a gander at this article and reach out if you’d like to simply find out what your options are.

How Your House Can Help Pay For Retirement With millions of Americans facing a retirement income shortfall, researchers and thought-leaders suggest the need to use home equity more strategically in retirement to improve financial security.

"Roughly 70% of older workers have just $5,000 or less in immediate savings, according to data from the Insured Retirement Institute."
😳😳😳😳😳

Interesting article on the unfortunate reality of our seniors savings. Implementing a HECM into your retirement strategy can be just the addition needed to ensure you not only have the savings necessary for unexpected expenses or even expected life events, but to also ensure your retirement savings last your full lifetime... 👍

Reach out to me, in whatever capacity you feel comfortable, if you are curious on what a HECM can do for you if implemented into your current retirement strategy.

Baby Boomers fall short on emergency savings, put retirement at risk New data reveals that Baby Boomers are relatively ill equipped to cover financial emergencies. Roughly 70% of older workers have just $5,000 or less in immediate savings, according to data from the Insured Retirement Institute.