Posts Tagged seniors
Reverse Mortgage Lender Eliminates Fees to Provide Additional Funds
Posted by Victoria Belle-Miller in Finances on 05/17/2010
A reverse mortgage is a great financial solution for homeowners age 62 or over who want to eliminate their mortgage costs, as well as supplement their incomes. This type of loan offers many benefits, such as allowing homeowners to utilize their home equity. Although this loan is very beneficial to many homeowners, some find that it can be expensive. But some lenders are making this type of financing much more affordable by eliminating some of the loan’s fees.
Fewer Fees Increase the Proceeds Available from this Loan
One reverse mortgage lender has decided to offer a greater incentive for borrowers who choose the lump sum as their disbursement option, which has a fixed interest rate. Soon, this lender will completely eliminate the loan’s origination fee, as well as its servicing fee. In the past, other lenders have eliminated one cost or another, but this lender is eliminating both loan costs. By eliminating these costs, eligible homeowners will be able to receive even more proceeds from their loans!
How this Loan Allows Homeowners to Use their Home Equity
In addition to the benefit of having no monthly mortgage payments, homeowners with sufficient home equity can convert their equity into cash. The amount of money a homeowner can receive depends upon his or her age, home value (which is determined by an appraisal) and current interest rates. Generally, older homeowners with higher home values will receive more loan proceeds. The money received from the loan can be used for anything the homeowner desires, such as medical bills, other payments or personal expenses.
Loan Eligibility and Requirements
To be eligible for this type of financing, a homeowner must be at least 62 years old and financing his or her primary residence. This means the homeowner must reside in the home at least six months out of the year. Because there are no monthly mortgage payments, this loan does not have any income or credit requirements, so it is simple to qualify for this type of financing. The homeowner is also required to attend loan counseling to determine if this type of financing is best for his or her needs.
In most cases, a homeowner will owe nothing on the loan for as long as he or she resides in the home unless they fail to meet the loan requirements. These requirements include staying up to date on home repairs, taxes and insurance. If these requirements are not met, the loan will become due and payable.
Even though the absence of the service and origination fees is only available with the lump sum disbursement option, there are other disbursement options a homeowner can choose from. Other disbursement options include a line of credit, monthly payments or a customized combination.
With the new changes being introduced by reverse mortgage lenders, this type of financing will be able to offer more benefits to homeowners and give them even more access to their home equity. This will make life after retirement simpler for homeowners and provide them with greater financial independence.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
Now is the Time to Finance With a Reverse Mortgage!
Posted by Victoria Belle-Miller in Finances on 05/01/2010
A reverse mortgage is a great financial solution for homeowners who are seeking ways to keep their home, pay all their expenses and still maintain their financial independence. Now is the best time for homeowners to take advantage of this type of financing. Soon, certain changes will take place within the reverse mortgage program that will likely affect future applicants.
Current Administration Requests HECM Subsidy
Home equity conversion mortgages (HECMs), which are the most common type of reverse mortgage, have been successful in helping homeowners find a way out of financial predicaments. The program offers several advantages, but to continue offering these home loans and their benefits, the program needs money. The office of Management and Budget requested a $250 million subsidy for the HECM program in the 2011 budget. If this subsidy is not approved, major changes will go into effect that will likely reduce the effectiveness of the home equity conversion mortgage.
The principal limit factors (or PLFs), which determine the amount of money a homeowner can receive from his or her loan based on age and interest rates, were already reduced at the beginning of this year. David H. Stevens, assistant secretary of Housing for the Federal Housing Administration, said that in order for the program to successfully continue in 2011, whether the subsidy is received or not, the annual mortgage premium will have to increase from 0.5% to 1.25% and the principal limit factors will have to be reduced at least another 1-5%, depending on the homeowner’s age.
What Does This Mean for HECMs?
If the $250 million subsidy is not granted, even more changes will have to take place. Without the necessary money, the principal limit factors would have to be reduced another 21% in 2011, which is unpleasant news for those in the process of obtaining reverse mortgages. Reducing the principal limit means seniors will receive significantly less money from their loan, specifically about 30% less, which equals about $23,000 to $27,000. Stevens fears that, if this change occurs, fewer homeowners will be able to take out these loans because there will not be enough to finance their homes.
Act Now to Reap the Benefits of this Loan
This type of financing is different than other home loans. Unlike most loans, homeowners do not have to pay a monthly mortgage payment. As long as the loan requirements are met, the homeowner will not owe anything on the loan until he or she no longer resides in the home. If there is sufficient equity in the home, the equity can be converted into cash that the homeowner can use for any expense. The amount the homeowner can receive depends on his or her age, home value and interest rates, and the homeowner can choose how his or her money is disbursed.
Stevens discussed how crucial the HECM program is because of the various financial setbacks seniors encounter today, including high medical bills and declines in income and savings. If all of these changes take place, it will eliminate this loan as a financial solution for many homeowners. Homeowners who want to enjoy the current benefits offered by this type of financing should speak with a loan specialist to learn more about their options.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
Reverse Mortgage Loans Help Homeowners Make the Most of Home Equity
Posted by Victoria Belle-Miller in Finances on 04/20/2010
After retirement, many homeowners may be looking for ways to pay for all of their expenses. This is becoming more difficult in our current economy due to certain decreasing government benefits and unexpected pitfalls. Homeowners may be less prepared for retirement than they expected.
The Center for Retirement Research discovered that more than 60% of households are not prepared for retirement when it comes to their finances. Their research found that if retired home owners do not use the available equity in their homes, they are 10% more likely to be at risk for being financially unprepared. A reverse mortgage loan could be the answer home owners are looking for because it can supplement their current incomes and allow them to live the lifestyles they had prior to retirement.
How the Loan Works
Reverse mortgage loans are designed to give home owners financial security and independence after retirement. This type of financing is unique because home owners do not have to make any monthly mortgage payments. This is one less payment home owners are responsible for, and it allows them to put their money toward other required expenses or pleasure. As long as the homeowner lives in the home and meets the loan requirements, he or she will not have to make any payments on the loan.
If a homeowner has sufficient equity in his or her home, which is determined by an appraisal, that equity can be converted into cash. There are no restrictions on how the money is used, but home owners often use the money to supplement their incomes. The amount of money a home owner can receive depends on his or her age, the value of the home, and current interest rates. The home owner can choose to receive the money in a lump sum, a line of credit, monthly payment, or a customized option that combines some of the options listed above.
In most cases with this type of loan, the homeowner will not owe more than the value of the home once he or she no longer occupies the residence. The loan will be repaid using the proceeds from the sale of the home. But, on the rare occasion when the loan balance exceeds the value of the home and the home owner or home owner’s heirs wish to retain ownership of the home, they will have to pay off the full balance of the loan.
Eligibility and Requirements
To be eligible for this type of financing, the homeowner must be at least 62 years old and must be financing his or her primary residence. In order to meet the requirements of the loan, a homeowner must stay up to date on homeowner’s insurance, property taxes, and home repairs. If any of these is not kept current, the homeowner will be required to pay back the loan in full.
All home owners wishing to finance their homes with this loan will be required to attend reverse mortgage loan counseling before they can apply. The purpose of this counseling is to properly educate borrowers about this type of loan to determine if it is the best financing option for their situation. The counselor should inform the borrowers about all the costs associated with the loan and should be able to answer any questions borrowers have.
Consider a Reverse Mortgage Loan when Financing your Home
This type of financing is not right for everyone, so it is important to understand the loan requirements and outcome. This loan will reduce the amount of equity in the home and will cause the homeowner to accumulate debt over time. But for many homeowners, the loan benefits far outweigh the cons, making these loans the best solution for their financial needs.
Retirement is a time to be enjoyed, and no one wants to be financially unprepared. Homeowners can use reverse mortgage loans to supplement their incomes and to live the lives they desire post-retirement.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
Know What to Expect From Your Reverse Home Mortgage
Posted by Victoria Belle-Miller in Finances on 03/16/2010
Reverse home mortgages were designed to provide older homeowners with financial independence in the years following their retirement, when the need to supplement their incomes may arise. Unfortunately, some people are taking advantage of the homeowners who are eligible for this type of financing, and we are seeing some cases of mortgage fraud occurring. The Federal Grand Jury recently indicted three men on charges of conspiracy and financial institution fraud after they tried to profit from a reverse home mortgage fraud scheme. After sentencing, these men could receive extensive prison sentences, as well as large fines.
The harsh punishments these men could receive show just how seriously the U.S. Department of Housing and Urban Development is taking these crimes. Legislation has been passed in several states to make further strides toward preventing more mortgage fraud in the future. In addition to these efforts, older homeowners can prevent becoming victims of mortgage fraud by knowing exactly what to expect from this loan program.
How This Mortgage Should Work
This loan can be used for a home purchase, to refinance a current mortgage, or just to cash out equity. With this type of financing, a homeowner does not make any payments toward the loan for as long as he or she resides in the home and meets the requirements of the loan. These requirements include staying current on homeowner’s insurance, property taxes and any necessary home repairs. If a homeowner meets these requirements, he or she will not be responsible for any amount exceeding the loan amount once the loan is due.
If a homeowner has enough equity in his or her home, it can be converted into cash. A homeowner can spend the cash on any expenses they choose and the money received is not considered taxable income. The amount of money a homeowner can receive depends upon his or her age, home value and current interest rates. There are different disbursement options a homeowner can choose from, including monthly payments, a line of credit, a lump sum, or a customized combination plan.
Mortgage Eligibility
To qualify for this type of financing, a borrower must be financing their primary residence and be at least 62 years old. This loan does not have minimum credit score or income requirements, so more homeowners are likely to qualify.
All homeowners must attend loan a counseling session before they can take out a reverse home mortgage. The counselor will let the homeowner know what to expect from his or her loan and can answer all of his or her reverse home mortgage questions. Then a homeowner can decide if this loan is the right financing option for him or her.
Do Not Be a Victim
Homeowners should not have to pay for any information. Any reverse mortgage information a homeowner could need is available for free from qualified loan specialists and on the U.S. Department of Housing and Urban Development’s website. A homeowner should thoroughly research the lender he or she chooses to ensure that he or she is reputable. A lender should be able to answer all of the homeowner’s questions, as well as inform him or her of all the costs associated with the loan.
It is important to note that most lenders want to help older homeowners, not hurt them. This type of financing can be a great solution for older homeowners who are looking for ways to supplement their incomes or improve their lifestyles. While the U.S. Department of Housing and Urban Development continues to work hard to protect homeowners from reverse mortgage fraud, homeowners themselves should also utilize the many resources that are available to ensure that they become satisfied borrowers instead of victims.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
Reverse Mortgages For Seniors Offer Financial Independence
Posted by Victoria Belle-Miller in Finances on 03/13/2010
As the cost of living rises in 2010, a larger number of older homeowners are looking for a financial solution that allows them to remain in their home and still have available money at their disposal. Often, an older homeowner’s basic living expenses will exceed the income he or she receives after retirement, such as social security benefits. The cost of healthcare, often a necessity for older Americans, is also rising and is not always completely covered by health insurance or government aid. A reverse mortgage could be the answer to this financial quandary.
Reverse Mortgages for Seniors: Basic Information
This type of financing is specifically designed for older homeowners who are financing a residential property. This loan is unique, compared to other conventional home loans, because it does not require the homeowner to make any monthly mortgage payments. As long as the homeowner pays property taxes, stays current on homeowner’s insurance and maintains any necessary home repairs or maintenance, he or she will not have to make any payments on the loan for as long as he or she remains living in the home.
If a homeowner has sufficient equity in his or her home, that equity can be converted into cash with this type of loan. The money received from the loan is tax-free and can be used any way the homeowner sees fit. The money can be used to pay off other existing debt, healthcare costs or to simply improve one’s current lifestyle. The amount of money a homeowner can receive depends on his or her age, the value of the home, and current interest rates. Homeowners can choose from several disbursement options, including a lump sum, a line of credit, monthly payments or a customized option that is designed to meet their financial needs.
Requirements of this Loan
There are certain requirements a homeowner must meet to fulfill the terms of the loan. All homeowners listed on the title of the home must be at least 62 years old. The home being financed must also be the homeowner’s primary residence, which means he or she resides there at least six months out of the year. Due to the absence of monthly payments, there are no income or credit requirements for this type of loan, so in many cases, it is quite easy to qualify for this type of financing.
An appraisal will need to be done on the home to ascertain the home’s value. This will tell the homeowner how much equity is in his or her home so that the lender can determine how much money he or she can receive from the loan. The homeowner must also attend reverse mortgage counseling before he or she can take out a reverse mortgage. This counseling covers the loan and all of its requirements so that homeowners are better prepared before deciding on this type of financing. In many cases, free counseling is available to borrowers.
Benefits of this Type of Financing
This type of loan is insured by the Federal Housing Administration, which in turn guarantees that older homeowners who take out these loans and stay current on taxes, insurance and repairs will never owe more than the value of their homes once their loans are due to be repaid. This type of financing allows a homeowner to stay in his or her home without worrying about paying monthly mortgage payments. This will leave him or her with more money for other expenses and will help them maintain or improve their standard of living.
Senior homeowners have many expenses they are responsible for and the income they receive after retirement may just not be enough. A reverse mortgage could be the solution to their financial needs.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
How Could an FHA Reverse Mortgage Affect Retirement?
Posted by Anne Johnson in Finances on 03/03/2010
A FHA reverse mortgages are available to homeowners who are at least 62 years of age and who own the home in which they live. This financial product can help seniors who do not have sufficient income to meet their monthly needs, but do have equity in their home. The FHA reverse mortgage works by liquidating that equity in order to eliminate monthly mortgage payments, disburse payments to the homeowner, or both. Provided that the homeowners remain current on their obligations, the homeowner is not required to repay any of the loan balance until they no longer occupy the home.
An FHA Reverse Mortgage Can Make Retirement Comfortable
A common misconception about the FHA reverse mortgage is that homeowners must own their homes free and clear in order to utilize this product. The truth is, one of the main uses of this financial product is to eliminate monthly mortgage payments. Without the burden of monthly mortgage payments, homeowners have extra cash available to help maintain or improve their standard of living. While there are no monthly mortgage payments required, as long as at least one homeowner remains using the home as their primary residence, homeowner’s insurance, real estate taxes, and home repairs continue to be the responsibility of the homeowner.
How Can the Funds from an FHA Reverse Mortgage Be Used?
If the homeowner has enough equity, he or she can not only eliminate monthly mortgage payments, but receive additional funds from the FHA reverse mortgage. The amount of the additional funds will vary based upon the home’s value, homeowners’ ages, and how much equity is available.
The funds can be disbursed in many different ways and tailored to the needs of the borrowers. The different disbursement options include a lump sum, a line of credit, monthly advance, or a combination of these options. The funds received from an FHA reverse mortgage can be used however the homeowners wish. Common uses for the money are to supplement monthly incomes, to finance healthcare, and to eliminate other monthly expenses, but there are absolutely no restrictions on the use of these funds.
Could the FHA Reverse Mortgage Affect my Government Benefits?
Depending on the type of assistance a homeowner receives, an FHA reverse mortgage could affect their eligibility to continue receiving it. Though the existence of the FHA reverse mortgage itself does not affect any eligibility requirements, the funds a homeowner receives from this product could.
If a homeowner receives an entitlement-based benefit, this financial product will not affect their eligibility. Federal entitlement programs in the United States include Social Security and Medicare. These programs are both based upon factors such as the recipient’s age and job history and, therefore, will never be affected by an FHA reverse mortgage.
Programs such as Medicaid and Supplemental Security Income are considered need based and could be affected by the proceeds from this financial product. In order to be certain that this product will not affect any federal or state benefits, home owners should speak with their caseworkers about the potential implication of receiving money from an FHA reverse mortgage.
An FHA reverse mortgage can help senior homeowners live more comfortably during their retirement. This product can eliminate monthly mortgage payments, as well as provide additional funds to help supplement a fixed income. While this product is certainly not for everyone, seniors who feel they may benefit from this type of loans should speak with a reputable reverse mortgage specialist about their options.
As a former psychology major, finding solutions to resolve people’s problems has always been a subject of interest to me. I hope that my writing will give people the confidence to make decisions about reverse mortgages. In addition to writing, I love to read, knit, spend time with friends and family, and watch the Missouri Tigers and Green Bay Packers!
A HUD Reverse Mortgage Can Be Beneficial
Posted by Victoria Belle-Miller in Finances on 02/26/2010
With the prevalence of negative press about the so-called disadvantages of HUD reverse mortgages, as well as the news about senior homeowners being scammed by deceptive lenders, many homeowners may have been dissuaded from even researching this type of financing. But, most lenders are not trying to trick their customers. For situations in which a HUD reverse mortgage is the right fit for a homeowner, there are many great benefits offered by this type of financing. The FHA insures most of these loans and it is continually making improvements to the consumer safeguards associated with them.
Benefits of this Type of Financing
If a homeowner determines that this type of loan is the right type of financing for his or her needs, there are multiple benefits they can receive from the loan. The homeowner will not have to make monthly mortgage payments on the loan as long as he or she remains the owner of the home and meets the requirements of the loan. These requirements include staying current on homeowner’s insurance, property taxes, and home maintenance or repairs. Once the loan is due to be repaid, the FHA guarantees that the homeowner will never owe more than the value of his or her home as long as they met the aforementioned requirements.
If a homeowner has enough equity in his or her home, the equity can be turned into cash. There are different disbursement options to choose from, including a lump sum, a line of credit, monthly payments, or a customized combination plan. There are no regulations on how homeowners spend the cash they receive. Some homeowners use the cash for medical bills, repayment of other debt, or for personal expenses.
How to Qualify for this Loan
To be eligible for this loan, the borrower must be a homeowner and be at least 62 years old. The home being financed must be a residential property and be the homeowner’s primary residence. There are no income or credit score requirements for this loan, so it is easy to qualify compared with other home loans. All potential borrowers are required to participate in HUD reverse mortgage counseling so that they are informed about the requirements of the loan and are certain that that type of financing is the best option for them.
The Future of HUD Reverse Mortgages
In 2010, the FHA expects to insure about $30 billion in HUD reverse mortgages. Because of this, the current administration has requested a $250 million credit subsidy for the reverse mortgage program and an increase to the current mortgage insurance premium from 0.5% to 1.25%. They also want to reduce the principal loan limit for the loans. These changes could affect the cost of the loan, so now is a good time to look into this type of financing.
Current Rates Are Low
Right now is a great time to consider this type of financing while rates are low and before the required mortgage insurance premium increases. This type of financing allows a homeowner to live in his or her home without worrying about making monthly mortgage payments and, if there is sufficient equity, to receive additional funds.
The amount of money a homeowner can receive depends on his or her age, home value and current interest rates. This type of financing can be a great option for senior homeowners who need to finance their homes and still have accessible money each month. Homeowners who feel this is the right type of financing for them can contact a reputable source for more information.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
Valuable Reverse Mortgage Information
Posted by Victoria Belle-Miller in Finances on 02/20/2010
A reverse mortgage is not just another typical home loan. It offers several benefits that other mortgages usually do not and most are insured by the Federal Housing Administration. This type of financing is for senior homeowners who may need financial assistance and have sufficient equity in their homes that can be turned into cash. This loan will allow them to stay in their home without making monthly payments and they may even be eligible to receive additional cash back.
How the Loan Works
If a homeowner qualifies for a reverse mortgage, he or she will not be required to make any monthly mortgage payments. The loan does not need to be repaid at all until the homeowner no longer occupies the home and it is sold. He or she will be able to stay in the home without worrying about the possibility of foreclosure due to missing mortgage payments. Also, if there is enough equity in the home, it can be turned into additional cash. The amount of money a homeowner can receive depends upon the homeowner’s age, the value of his or her home, and current interest rates.
Homeowners can choose how the money they receive is to be disbursed so that the amount and schedule fits their lifestyles and personal needs. The disbursement options include a lump sum, line of credit, monthly payments or a personalized combination. There are absolutely no restrictions on how homeowners can spend they money they receive from their loans. Seniors can use the money they receive for medical bills, home maintenance or other expenses.
Loan Eligibility & Requirements
In order to qualify for this loan, applicants must own their home and be at least 62 years old. The home must be the applicant’s primary residence in order to qualify, which means he or she resides in the home at least six months out of the year. Because there are no monthly payments with this loan, there are no income or credit score requirements. Therefore, homeowners can still be eligible for this type of financing even if they have limited incomes or less-than-perfect credit histories.
Borrowers are not required to pay back their loans until they no longer own or occupy their home. The only instance in which a homeowner would be required to repay the entire loan amount is if he or she did not keep the homeowner’s insurance, property taxes, or home repairs up to date.
Before a homeowner can take out a reverse mortgage, he or she will be required to participate in loan counseling, which will explore all of their financing options. This loan may not be the right option for everyone, so counseling will let homeowners know if this type of financing is the best option for their financial needs.
Don’t Buy into the Hype
Many people attempt to discourage reverse mortgages by spreading misleading information about them. While this type of loan may not be the right option for every homeowner, it is by no means a bad option for senior homeowners who need to supplement their incomes or reduce their monthly expenses.
This type of financing is a great option for homeowners who plan on staying in their homes for many years and do not need to preserve their equity for any reason.
Victoria Belle-Miller is the newest member of the Senior Reverse Mortgage writing staff. Her background in journalistic writing and ability to evaluate the issues that Americans face in daily life make her a strong addition to the team and a valuable source of sound mortgage advice.
In a Journalistic World Full of Opinions on Reverse Mortgages, Where is the Truth?
Posted by Anne Johnson in Finances on 02/08/2010
One month into the year 2010, many people have heard at least something-good or bad- about reverse mortgages. This product has become extremely popular in the last couple years and its popularity continues to rise. However, with popularity also comes criticism. Every article that is published seems to be a minimal amount of information clouded by a storm of opinions.
Although this product is different from any currently on the market, reverse mortgages are a still lien on a person’s home, just like traditional mortgages. Unlike traditional mortgages, a reverse mortgage does not require a person make monthly mortgage payments for as long as they live in the home.
Reverse mortgages are used so homeowners over the age of 62 can pay off their existing mortgage and obtain access to additional funds. Once a homeowner has taken out a reverse mortgage, they will never have to make a monthly mortgage payment again. This federally insured product does require that the homeowner remain current on real estate taxes, homeowner’s insurance, and home repairs. Provided that the homeowner maintains his obligations, the reverse mortgage will not become due until the homeowner moves away or otherwise vacates the home. If the homeowner fails to meet these obligations, the reverse mortgage could become due and payable before the homeowner leaves the home.
The federally insured reverse mortgage does have costs associated with it, just as all financial products do. Most of the up front costs associated with the product go directly to the government so that the reverse mortgage remains a non-recourse product. It is considered non-recourse because, assuming the homeowner continues to respect his contractual obligations, he will never owe more than the fair market sale value of the home.
Reverse mortgage benefits can help people who cannot comfortably afford their mortgage payments, health care, and daily expenses. Important to note is that this product is something which should be discussed with the homeowner’s heirs. In order for the home to remain in the family after the homeowner has passed away, the estate will be responsible for paying off or refinancing the reverse mortgage. This loan should not be considered if a homeowner wishes to leave a mortgage-free home to their heirs because it is a loan and does need to be repaid.
It seems that some critics are unclear on many important facts about this loan. The fees can be a little higher than traditional mortgages, but the interest is not. Also, the largest fees go directly to the government for insuring the reverse mortgage, not to the banker to make a quick buck. For homeowners who could use this product, the benefits strongly outweigh the costs.
There is a lot of misinformation surrounding reverse mortgages. This product is not right for everyone, but also should not just be used in the case of last resort. It can greatly help senior homeowners enjoy their retirement and the protections surrounding the mortgage continue to improve. Hopefully, the product will be around for many years to help seniors without enabling anyone to take advantage of them.
As a former psychology major, finding solutions to resolve people’s problems has always been a subject of interest to me. I hope that my writing will give people the knowledge and confidence to make important decisions about reverse mortgages. In addition to writing, I love to read, knit, spend time with friends and family, and watch the Missouri Tigers and Green Bay Packers!