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A Blog for Mortgage News and Tips

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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The Overlooked Asset That Is Changing Retirement Planning

Posted by George Downey on Jul 14, 2017 8:48:42 AM

A recent Forbes article (June, 2017), Retirees Uncertain about Tapping Home Equity but Want to Age in Place, highlighted conclusions from research conducted by The American College of Financial Services.  Their report, The Home Equity and Retirement Income Planning Survey, upholds the findings of other senior surveys confirming the great majority (83%), nearing or in retirement, want to stay in their homes and age in place.

 

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Topics: Reverse Mortgages, Retirement, Finance Professionals, HECM

Cash Flow Options for Fixed Income Seniors

Posted by George Downey on Jun 28, 2017 8:27:00 AM

Too many seniors are living on a fixed income that barely covers the essentials. Nearly 20 percent of married retirees (and nearly 50 percent of unmarried retirees) rely on Social Security for the bulk of their income.  Moreover, today ten to twelve thousand Baby Boomers are retiring every day, and that trend will continue to 2030.  Retirement experts predict we are on the brink of a national emergency. 

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Topics: Reverse Mortgages, Retirement, Finance Professionals, HELOC, HECM

Divorce For Seniors...The Hidden Issues and New Solution

Posted by George Downey on Jun 16, 2017 8:08:35 AM

Divorce attorneys, financial planners, and registered investment advisors are looking for innovative financial planning tools for senior homeowners. 

Divorce rates among seniors, dubbed “gray divorce”, are on the rise according to a new article from the Pew Research Center, Led by Baby Boomers, Divorce Rates Climb for America’s 50+ Population. In addition to the increasing numbers, author Renee Stepler concludes that divorce at this stage of life has added complications. So-called gray divorcees tend to be less financially secure than married and widowed counterparts, particularly among women.  

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The Most Underutilized Retirement Asset…Why?

Posted by George Downey on Jun 7, 2017 9:02:00 AM

Inadequate savings and longer life expectancies collide and threaten retirement security. 

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Topics: Retirement

Longevity Insurance

Posted by George Downey on Jun 1, 2017 8:12:00 AM

Longevity Insurance...Smart use of home equity to “insure” retirement success

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Topics: Reverse Mortgages, Retirement, HELOC, HECM

Three-Bucket Strategy for Managing Clients’ Retirement Risks

Posted by George Downey on May 17, 2017 3:08:22 PM

Working with clients who are in or nearing retirement, financial planners will work to mitigate a laundry list of potential retirement risks that threaten their clients’ long-term financial security. The U.S. Society of Actuaries recently published a list of 15 post-retirement risks that can affect retirees. This list addresses risks that can be managed through careful planning and those that are completely out of our control, which emphasizes the importance of backup financial strategies to see clients through potential events such as: 

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Topics: Reverse Mortgages, Retirement

Senior Divorce Settlements Helped by Reverse Mortgages

Posted by George Downey on Apr 5, 2017 10:12:22 AM

Divorce attorneys, financial planners, and registered investment advisors are beginning to recognize reverse mortgages as an innovative financial planning tool for senior homeowners. 

Divorce rates among seniors, dubbed “gray divorce”, are on the rise according to a new article from the Pew Research Center, Led by Baby Boomers, Divorce Rates Climb for America’s 50+ Population. In addition to the increasing numbers, author Renee Stepler concludes that divorce at this stage of life has added complications. So-called gray divorcees tend to be less financially secure than married and widowed counterparts, particularly among women.  

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Topics: Reverse Mortgages, Finance Professionals

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