The CFPB released a report on August 24 titled “Issue Brief: The costs and risks of using a reverse mortgage to delay collecting Social Security”. On a quick glance, the 26-page report […]
Tom Davison
I'm a wealth manager who enjoys helping people discover what path they want to walk and build a financial strategy to achieve it. This blog focuses on retirement planning, and currently delves into reverse mortgages.
Reverse Mortgages Rules To Change Positively And Negatively For Retirees – from Forbes.com, by Jamie Hopkins
Jamie Hopkins’ post from Forbes.com, Sep 21, 2017 A number of recent articles stated that the government’s new reverse mortgage changes (Mortgagee Letter 2017-12) will make the program less attractive to borrowers. […]
Do you prefer a ReLOC or HELOC?
HELOCs (Home Equity Lines of Credit) are widely used. Simply having one makes many people more comfortable. My wife and I had a standby HELOC for many years – ready to use […]
Reverse Mortgages: Many Users, Many Uses
Reverse mortgages provide access to cash. Cash is the most flexible financial resource of all. In turn, access to cash makes a reverse mortgage a very flexible resource. Many homeowners could qualify […]
Understanding Reverse Mortgages: An Interview with Shelley Giordano
SOA research has shown that non-financial assets are the biggest part of retirement assets for many middle American families. The largest part of non-financial assets by far are home values. Housing is […]
Can Reverse Mortgages Hedge the Most Common Retirement Income Risks?
This is the title of an article written by Don Graves, RICP, and published by the Society of Financial Services Professionals in January 2017. Click to read the article here: SFSP-Mitigating-Risk-DG. Don points […]
Tax Deductions and Reverse Mortgages: April 2017 Update
August 2016 updates: Additional identification of who can deduct reverse mortgage payments (homeowner, their estate, or their beneficiaries). Wording changes for simplicity. If you have a FHA insured Home Equity Conversion Mortgage (HECM) you have the potential for valuable tax deductions. Interest is deductible when you pay it. You could pay it and deduct it […]
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