All About Today’s Homeowner
Reverse Mortgages: Separating Fact from Myth
10 Mortgage Commandments
NRMLA Blog Squad Called Into Action
5 ways a reverse mortgage can help retirees
Reverse Mortgages can help pay for Long Term Care (LTC)
New Case for Reverse Mortgages
Americans are Unprepared to Pay Long-Term Care
Americans are Unprepared to Pay Long-Term Care Americans are Unprepared for the Realities of the Long-Term Care They May Need as They Age
Reverse Mortgages can be Saving Grace
Reverse Mortgages can be a Retiree’s Saving Grace The lack of focus on home equity in retirement income planning is nothing short of a complete failure to properly plan and utilize all available retirement assets, Forbes contributing writer Jamie Hopkins wrote this week. “This needs to change immediately because strategic uses of home equity, especially […]
13 Dangers of Caregiver Denial, from Senior Living Blog
13 Dangers of Caregiver Denial Posted On 28 Sep 2015 by : Dana Larsen Denial is a normal human emotion, especially with symptoms as heartbreaking as dementia or Alzheimer’s, as no one wants to confront the disease for which there is currently no cure. But there are risks to caregiver denial. Dangers that go along […]
4 Advantages FHA Reverse Mortgages Have Over HELOCs
4 Advantages FHA Reverse Mortgages Have Over HELOCs National Mortgage News, 9/8/15 by Jeff Taylor 4 Advantages FHA Reverse Mortgages Have Over HELOCs Home Equity Conversion Mortgages (Reverse Mortgages) are safer than ever, thanks to recent regulatory changes made by the Department of Housing and Urban Development. When applied appropriately, HECMs offer advantages over home […]
More Seniors Work in Retirement
More Seniors Work in Retirement Many Older Americans Say They Plan to Work in Retirement According to a study by Transamerica 82% of aging adults say they plan to work past age 65, or don’t plan to retire at all.
Aging American’s Worries
Aging American’s Worries Poll Reveals the Worries of Aging Americans The 2015 United States of Aging Survery polled 1,650 adults over 60 about their top concerns. Among their biggest worries: 28% cite an increase in the cost of living 24% cite unexpected medical expenses 58% have lived in the same residence for more than 20 years […]
Reverse mortgages help longevity planning
Reverse Mortgages help Longevity Planning In an article published this week, September 3, 2015, by the Journal of Accountancy, reverse mortgages were recommended as a retirement funding option when Associate Editor Courtney L. Vien asked four prominent CPAs about their views on coping with lengthy retirements, rising health care costs and clients with dementia. To […]
How a reverse mortgage helps financial planning
How a reverse mortgage helps financial planning Sixty-six year old Lisa M. is the epitome of a happy and prosperous senior homeowner. With a successful acting career and paid-off home in sunny Los Angeles, California, she enjoys an active and fun lifestyle. And, though it may surprise you, much of her ability to continue this […]
Reverse Mortgages instead of LTC Insurance
Reverse Mortgages Provide Alternative to LTC Insurance A recent article in Financial Advisor Magazine states, “In instances where long-term care insurance isn’t an option for older adults, advisors should consider recommending a reverse mortgage, taken as a line of credit. “Clients over age 60 may have missed the window to purchase affordable long-term care insurance,” […]
Prevent Tax Identity Theft
Prevent Tax Identity Theft The average tax refund in 2014 was $3,034 Studies show that most Americans use their tax refund to pay off debt. Some save or invest it, and others reward themselves with a shopping spree. Whatever your choice, if identity thieves get their hands on your social security number, they can […]
Seniors worry about running out of money
Seniors worry about running out of money 79% of CPAs say the top fear among their older clients is that seniors worry about running out of money. Exasperating this fear are concerns about: health care costs market fluctuations lifestyle expenses unexpected costs being a financial burden on a loved one desire to leave an inheritance […]
Maximizing Social Security Benefits
Maximizing Social Security Benefits Russell Settle, Founding Partner with SocSec Analytics, LLC, says that individuals and couples lose substantial sums of money by claiming benefits too soon. A delay in filing for SocSec can save those benefits, thus maximizing social security benefits. As an example: Fred and Mary are both 61. Their Social […]
The Art of Eldering
How can you perfect the art of eldering? CCE in Durango says you can do it with conscious choices and preparation. Everyone ages. Although we continue to gain experience and wisdom, we also begin to notice our bodies are not as strong as they used to be. Many of us are afraid of what this […]
Bridgett pays off her mortgage and gets $700 per month forever
She came to Steve thinking that she would have to sell her home and rent an apartment. Steve helped her to pay off her $90,000 mortgage, got her $33,000 in cash, and $700/month for the rest of her life. 3-14-2105 Dear Steve, Many thanks for your time and patience with my reverse mortgage! I really […]
5 Proven Approaches to Prevent Falls
Published 2-4-2015 | A Place for Mom Senior Blog | By Lisa Kernisan, MD Fall Risks and Seniors Seniors and families are often quite worried about falls, and with good reason. The Center for Disease Control (CDC) estimates that 1-in-3 seniors fall at least once every year. In 2013, falls led to 2.5 million emergency […]
Americans Are Living Longer
In 2012, life expectancy in the United States hit a record high: 78.8 years average life expectancy! If your savings is going to run out before your years, call Steve today! Local: (719) 266-5500 Toll free: (877) 299-5500
Most Americans Have Insufficient Savings
Retirees in 49 out of 50 states have inadequate funds to support themselves in their later years. Generally, retirees need 70 percent of their pre-retirement income to support themselves. Nevada is the only state that has seniors who report sufficient funds, according to a recent survey from invest.com. If you need more money to supplement […]
Older Americans Need Reverse Mortgages
Given that older Americans’s homes are worth, on average, more than their other combined savings, there is a begrudging inevitability about reverse mortgages. As more people enter retirement in the coming decades with modest savings and no private pension, they’re going to need some of that home equity back during their increasingly long lives. – […]
Senior Income Takes a Hit
$16,000 – The medium income of US retirees $31,000 – The median income of an American worker How can you overcome this difference? With a Colorado Reverse Mortgage. Call Steve today! (719) 266-5500
Aging in Place Remains a Priority
According to AARP, more than 90% of seniors wish to stay in their homes as they age. December 9th, 2014 | by Jason Oliva Published in Reverse Mortgage Daily The Center for Retirement Research at Boston College has been garnering considerable press in the past few weeks for a recent report on how retirees can supplement […]
Retirement by Numbers
The statistics below are horrifying, but this doesn’t have to be you. There are things you can do to make sure you will be okay. Your 1st step is to call Steve today, and let him take a look at your situation. Steve can help! 62 – average retirement age 18 – average length of […]
Bankrate: Can you use a Colorado reverse mortgage to buy a home?
Over the years, celebrities such as Robert Wagner, Alex Trebek and Fred Thompson have touted reverse mortgages as a way to supplement a senior’s fixed income by tapping equity that has accrued in their home. But here’s another, less common use of reverse mortgages that these celebrities may not have mentioned in their commercials: buying […]
What a senior needs to retire
Senior housing situation dire, but reverse mortgages can help
Suggesting a looming crisis in senior housing, an increasing number of baby boomers are entering into retirement with mortgage debt, according to a recently released report from the Harvard Joint Center for Housing Studies and the AARP Foundation. Reverse mortgages may offer financial security for those who are eligible and in need. “Reverse mortgages can be […]
Report: USA unprepared to assist aging population, but reverses can help
While America struggles to meet the housing needs of its population, reverse mortgages remain a valuable source of funding for older Americans who have financial and other retirement needs, according to a new report published this week by the Harvard Joint Center for Housing Studies and AARP Foundation. Entitled “Housing America’s Older Adults–Meeting the Needs of […]
MarketWatch: 10 Things Retirees Won’t Tell You (and why a reverse mortgage could help them)
Today, MarketWatch came out with an article about what retirees are going through. The article by Catey Hill is clever and lighthearted, but also illuminates the tough financial position in which seniors in America find themselves. According to the article, 60% of workers aged 55 and older have saved less than $100,000 for retirement, while 24% […]
Americans Struggling to Afford Their Mortgages
A recent study by Hart Research Associates finds 52% of Americans are making sacrifices in order to cover their rent or mortgage. Homeowners are facing tough decisions such as delaying retirement saving, finding additional work and reducing health care spending to locate the needed income to pay for their homes. If you are having trouble […]
Steve helped them buy a home less than 1 year after their bankruptcy
Steve helped them buy a home less than 1 year after their bankruptcy 8-27-2014 Steve, Could have not done this without you and Johnell. You Rock! Thank you, Greg & Lori
Retirement Stats, July 2014
You mortgage is a big part of your retirement plan. If you want to buy a home, refinance, or get a reverse mortgage, call Steve, The Mortgage Doctor. He’ll help you figure out the best way to make sure your’e in the 50% of Americans who have a retirement plan. Call today! He’ll talk to […]
The Reverse Review, July 2014
Steve The Mortgage Doctor is happy to bring you The Reverse Review, July 2014. Steve believes that educated clients are happy clients. Read and enjoy…and if you have any questions, call him! He’ll talk to you personally. Click on the side arrows to turn the page. Click on the page to make it larger. [iframe src=” […]
New Reverse Mortgage Rule Could Prevent Foreclosure
Published by Blackenterprise.com | June 30, 2014 | Written by Sheiresa Ngo Updated guidelines allow borrower’s spouses to avoid homelessness The unthinkable happens to many widows and widowers who take out a reverse mortgage while their spouses are still alive. After the borrowing spouse dies, the non-borrowing spouse ends up receiving a foreclosure notice, even though they’re up-to-date on all […]
Provident Lending takes 3rd in CSBJ Best of Business in Colorado Springs 2014
Every year, the Colorado Springs population has a chance, thanks to the Colorado Springs Business Journal (CSBJ), to vote for their favorite businesses, events, and even public bathrooms in the city. This is the local People’s Choice Awards for business. It serves as a list for citizens to read to find trustworthy businesses with good […]
ReverseReview: Senior Americans Trivia
These Trivia Facts are from the Reverse Review Roundup, June 2014 Trivia Fact #1 A survey reveals older Americans plan to purchase homes down the road. 50% of surveyed adults age 55 and older say they are looking to purchase a home in the future. “For the first time in years, Americans have a growing […]
WSJ: A Kinder, Gentler Reverse Mortgage
Published in The Wall Street Journal online | March 22, 2014 | Written by Tom Lauricella To read the full article, click here. In a Wall Street Journal article in March, Tom Lauricella discusses how the new, tighter regulations on reverse mortgages have made the new reverse mortgage a better product.He says: The rules for […]
We Saved Josie $250/month
We saved her $250/month and she skipped 4 house payments! 5-9-2014Thank you so much for what you did for me. I know that God will help you in everything. Josie
Seniors Underestimate the Cost of Long-term Care
from ReverseReview.com | March 27, 2014 A survey of affluent baby boomers revealed that on average, participants expect the cost of long-term care to reach about $36,220 per year. This estimate is way off base, as the cost of nursing home care alone is expected to reach $265,000 per year in 2030. To read more […]
Guaranteed Cash Flow for Life
Cash flow is very important for retirees on a fixed retirement income. For the same reason that many retirees invest in an immediate annuity—guaranteed cash flow for life—so, too, will retirees find that a monthly check from their HECM Reverse Mortgage will provide the same sort of comfort. Remember our average retiree, living off of […]
Are Young Adults Ready to Buy Their First Home?
Taken from ant article by Michael De Groote (Desert News) 24-Year-Old Staci Buys her First Home Staci was 24 when she bought her first home in a central Denver neighborhood back in 2010. She took the real estate plunge partly because she worked at a real estate company called Homefinder, now 8z.com, where she still works […]
The Mortgage Market Is About To Get Smaller
from PropertyManager.com | by Marc Courtenay | February 27, 2014 As 2014 begins a bureau created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, The Consumer Financial Protection Bureau (CFPB), will set new rules concerning mortgages. Lenders will be required to verify and inspect borrowers’ financial records. The rules discourage lenders […]
Never Make Another Mortgage Payment
A Reverse Mortgage can help someone you love to never have to make another mortgage payment! Listen to this short interview where Steve Haney, also known as The Mortgage Doctor of Colorado, explains how. And if you still have any questions, you can talk to Steve yourself! Just call: 719-266-5500. He’ll make time for you! […]
How to Refinance Your Home if You’re Upside Down or Have no Equity
Steve, The Mortgage Doctor of Colorado, can help you refinance your home at today’s lower interest rates even if you’re upside on your mortgage (you owe more than the house is worth) or you have no equity in your home. Listen to what Steve says, and then fill out the form at the bottom of […]
HARP is a “No Brainer” – FHFA
Feeling that they may have reached only about half of the families who could benefit from the program, the Federal Housing Finance Agency (FHFA) launched a campaign today to inform homeowners about the Home Affordable Refinance Program (HARP). The campaign is aimed at those with higher than prevailing interest rates who are current on their mortgages but have too little […]