CUT through Gov’t CRAPOLA on HECM Reverse Mortgages.

What the 2016 Survey of Consumer Finances tells us about senior homeowners — take a look for yourself…

‘Impediments to extracting home equity (HECM Reverse Mortgage) can be attributed to factors that include an aversion to debt and a general desire to stay financially conservative (Kaul and Goodman 2017), a desire to leave a bequest or save for emergencies, fear of losing the home, product complexity, high costs, and fear of misinformation and fraud directed at the elderly.’ (Editor’s note: these same people can have what they want with a HECM Reverse Mortgage —

 

HECM Reverse Mortgage accesses equity safely.

In this age of FAKE NEWS, you might be listening to the jaded misinformation of the forward mortgage industry who may well have told you how they can get you into another mortgage with payments and leave you with a little cash for your trouble. Don’t do it until you hear one of us HECM guys explain what can happen to you. First of all, you may not be eligible for a HECM for another year after you do that.

Those who prevail will find truth and WIN HECM BENEFITS. Consider from what source you heard about HECMs and then hear the oft played tune of the competition: “Oh, you DON’T WANT TO GET A REVERSE MORTGAGE” as if they cared what you want if you aren’t buying in to what “they” want. (Be careful — it’s a slippery slope).

‘New Rules Change Math On Reverse Mortgages.’

HUD shores up fund to stop “bleeding”, supports HECM financial strength

New federal rules that took effect Oct. 2 will raise upfront costs for some homeowners seeking a reverse mortgage, and reduce maximum loan amounts for most, raising the question: Is a reverse mortgage still worth considering?

Most experts say yes, although the increasingly popular strategy of taking a reverse mortgage line of credit—known as a standby reverse mortgage—may become less useful because credit lines will now grow more slowly.

Using reverse mortgage credit lines to support income reliability — Financial Planners Do Diligence

Integrating Home Equity and Retirement Savings through the “Rule of 30”

To access charts presented as part of this paper, please access them online at: https://www.onefpa.org/journal/Pages/OCT17-Integrating-Home-Equity-and-Retirement-Savings-through-the-Rule-of-30.aspxby Peter Neuwirth, FSA, FCA; Barry H. Sacks, J.D., Ph.D.; and Stephen R. Sacks, Ph.D.

Strategic Uses of Reverse Mortgages for Affluent

While the refrain that reverse mortgages aren’t just last resorts for cash-strapped older homeowners may be canonical within the industry, many higher-income retirees may not be familiar with the Home Equity Conversion Mortgage and its potential uses.

Writing on his retirement-planning blog, financial planner and HECM advocate Tom Davison provides an all-in-one resource for explaining the product to more affluent potential borrowers.

The POWER of HECM62; 10 steps on how it works; This is the winner’s circle

The power of 62 is an age, like 21, or 65; For the HECM, it means you are “of age” — eligible.

Mark it on the calendar. Make a star for 60, because that means you are only 2 years away from launching a HECM use of home equity to survive retirement in one piece. It means you might qualify for a big bonus. You can get a HECM, and there are bunches of benefits on this webpage about HECMs. Walk through these expected steps to be familiar.