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What should an older American do with their home as they age? Homes are often the largest source of equity for a family, but they are generally not liquid assets. As homeowners age when does assisted living become an option? How is that paid for in a time without as many retirement pensions as a decade ago?

These questions are ones the Academy is interested in answering. Sometimes with sound financial planning, sometimes with types of loans or borrowing strategies, often by selling a home outright.

The financial service industry often prohibits agents and professionals from providing advice in the area of home equity. Once I give advice on your home, a fiduciary duty of care may apply. And not every agent is capable of prudent and loyal advice in this area. So we have a conundrum. Agents and advisors are not being trained to provide this critical advice, consumers go without help. And our academy is aimed at helping bridge this gap.

Recent Posts

Are Reverse Mortgages Expensive— Especially For Those Who Don’t Need Them?

Whenever the subject of reverse mortgages come up, invariably one of the objections that are cited is the perceived high cost of originating a reverse mortgage. Virtually every news media article about reverse mortgages cites the high cost and how it eats away at equity.  That is why so many advisors recommend they only be used as a “loan of last resort” when there is no other option.

The opposite is actually true.  When all costs are considered, reverse mortgages became the loan of first resort.  The fact is that they actually cost considerably less when used as a source of income as compared to a portfolio or continuing to make payments from a portfolio once past the age of 62.  Let’s investigate the concerns that both consumers and advisors have about the actual fees and closing costs that are the subject of concern.

https://www.nasdaq.com/articles/are-reverse-mortgages-expensive-especially-for-those-who-dont-need-them-2021-03-31

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  2. Reverse Mortgage Volume, HMBS Issuance Rise in March as MMI Fund Position Improves Comments Off on Reverse Mortgage Volume, HMBS Issuance Rise in March as MMI Fund Position Improves
  3. Tap Home Equity for Extra Income Comments Off on Tap Home Equity for Extra Income
  4. This new type of reverse mortgage would help retirees generate much more income Comments Off on This new type of reverse mortgage would help retirees generate much more income
  5. Reverse Mortgages Aren’t Just for People Who Are Out of Money Comments Off on Reverse Mortgages Aren’t Just for People Who Are Out of Money
  6. Finance of America Reverse Empowers Homeowners to Reinvent Their Retirement Roadmaps with Game-Changing New Mortgage Comments Off on Finance of America Reverse Empowers Homeowners to Reinvent Their Retirement Roadmaps with Game-Changing New Mortgage
  7. Are HECM Reverse Mortgages Best Viewed As A Stand-Alone? Or As Part Of An Integrated Retirement Plan? Comments Off on Are HECM Reverse Mortgages Best Viewed As A Stand-Alone? Or As Part Of An Integrated Retirement Plan?
  8. Risks and Planning: What Did COVID-19 Teach Us? Comments Off on Risks and Planning: What Did COVID-19 Teach Us?
  9. Changes as We Age, Caregiving, Long-Term Care and the Family Comments Off on Changes as We Age, Caregiving, Long-Term Care and the Family