A Blog for Mortgage News and Tips

"Using Housing Wealth to Age in Place" Seminar at Senior Celebration Expo

Posted by George Downey on May 22, 2018 5:23:54 PM

Participants from the "Housing Wealth" panel discussion at the 26th Annual Senior Celebration event, hosted by South Shore Senior News held at Lombardo's in Randolph, MA. (L-R) Chris Downey, Housing Wealth Advisor, Harbor Mortgage Solutions, Inc., Braintree, MA; Doug Beck, Certified Financial Advisor, Tailwind Wealth Management, Hingham, MA; moderator John O’Connor Jr., O'Connor & O'Connor, LLC, Braintree, MA; and John O’Connor, O'Connor & O'Connor, LLC, Braintree.

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Topics: age in place, housing wealth

Got Home Equity? New ways it can increase retirement savings to age in place

Posted by George Downey on May 17, 2018 12:12:33 PM

If you’re in or approaching retirement, own a home (with or without a mortgage), and are uncertain about your financial future, you may be in luck.

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Topics: Reverse Mortgages, Finance Professionals, HECM, home equity, Retirement security, age in place

Financial Advisors Criticized for Ignoring Reverse Mortgages in Retirement Planning

Posted by George Downey on Apr 3, 2018 9:57:55 AM

Retirement researchers, prominent academics and planning experts are united in recommending that home equity and reverse mortgages be a fundamental consideration in retirement planning practices.

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Topics: Reverse Mortgages, Finance Professionals, HECM, Housing Wealth Management, Retirement security

BREAKING NEWS: 50% of U.S. Households Lack Enough Income to Retire

Posted by George Downey on Feb 19, 2018 12:46:30 PM

2018 Research report documents looming crisis.  Two actions that can avoid pitfalls and strengthen retirement security.   

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Topics: Retirement, Housing Wealth Management, Retirement security, Retire

National Study Challenges Understanding of Home Equity Utilization

Posted by George Downey on Jan 25, 2018 2:36:28 PM

The National Council on Aging (NCOA) concluded research in 2017 documenting the Awareness of Home Equity Products Among Older Homeowners and Financial Advisors (March, 2017).  The study included sessions with 1,002 older homeowners (who had not used a home equity product) and 254 financial advisors (with credentials including FINRA Series 6 or 7, Certified Financial Advisor or Planner, or NMLS Mortgage Loan Broker).  The study confirmed wide gaps of knowledge and understanding of the importance and potential home equity can provide to enhance retirement security.

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Topics: Reverse Mortgages, Retirement, Finance Professionals, home equity


Posted by George Downey on Oct 11, 2017 3:24:13 PM

Senior homeowners urged to consider utilization of housing wealth to increase and extend retirement security while favorable conditions prevail.  Home price record surge and low interest rates create strategic opportunity for senior homeowners.

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Topics: Reverse Mortgages, Retirement, HELOC, HECM

How to Talk to Parents About Financial Facts of Life

Posted by George Downey on Sep 28, 2017 12:42:35 PM

Not long ago, your mother or father was explaining (somewhat inarticulately) the birds and the bees to you. Now it's your turn to relay some important facts of life. And conversations about reverse mortgages can be just as awkward.

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Topics: Reverse Mortgages, Retirement, Finance Professionals

Savvy Financial Planners Seize Home Price Spike (Bubble) To Help Clients

Posted by George Downey on Sep 11, 2017 1:44:36 PM

Home values like trees don’t grow to the sky and bubbles will burst.

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Topics: Reverse Mortgages, Retirement, Finance Professionals, HECM, Conventional Mortgage

What’s In A Name?  Apparently A Lot When It Comes To Reverse Mortgages

Posted by George Downey on Aug 17, 2017 1:02:00 PM

Like the late comedian Rodney Dangerfield, reverse mortgages…don’t get respect.  Not much anyway.  Why?  That question and the broader issue of seniors’ general reluctance to use home equity has been the subject of numerous studies.  Most recently, examinations by The Center for Retirement Research at Boston College, the Bloomfield, NJ-based Reverse Mortgage Funding (RMF), a leading national lender, and Reverses Mortgage Daily, an industry trade publication, shed new light on this puzzling question. 

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Topics: Reverse Mortgages, HELOC, HECM

Harbor Mortgage Riding for Pan-Mass Challenge

Posted by Chris Downey on Aug 1, 2017 9:32:00 AM

I have been asked to write a bit about our involvement in this year’s Pan-Mass Challenge fundraising event.  For those not aware, it is the one of the country’s single largest cancer fundraising events; started in 1980, the event has raised over $540,000 million dollars since inception, $47,000,000 last year with a goal for $48,000,000 this year.  Virtually every single dollar raised goes directly to cancer research.

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