Reverse Mortgages: Separating Fact from Myth
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
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 […]
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 […]
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 […]
80 million baby-boomers expected to retire over the next 18 years
The Journal of Financial Planning says that 80 million baby boomers expected to retire over next 18 years Unfortunately, the recent recession has eroded their retirement portfolio values, increasing retirees’s dependence on Social Security. The long-term solvency of the Social Security system, however, is uncertain. Thus, having alternative sources of retirement income is important. Reverse […]
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 […]
WSJ: Reverse Mortgage Could Help Boost Retirement Income By 30%
The Colorado Mortgage Doctor wants you to know how a reverse mortgage can help increase your retirement income. To find out how to increase your income by 30%, call The Mortgage Doctor today! (719) 266-5500 Published in The Wall Street Journal | March 6, 2015 Taking out a reverse mortgage could help increase retirees’s annual […]
HUD Chief: Reverse Mortgages are a Good Option if Done Right
…and Steve can do a Colorado reverse mortgage right for you. Call him today! (719) 266-5500 As more older Americans face retirement without adequate savings, HUD Secretary Julian Castro says a reverse mortgage may provide the help they need. In response to an audience question during a fireside chat with Zillow Chief Economist Stan Humphries, […]
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. – […]
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 […]
Jumbo Reverse Mortgages Revived
Published in BloombergBusiness.com | Aug 22, 2014 | Written by Alexis Leondis Jumbo lending isn’t just on the upswing for traditional U.S. home loans. It’s also being revived for seniors who want to borrow against the equity in their houses through reverse mortgages. Urban Financial of America LLC and American Advisors Group, among the five […]
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 […]
WSJ: 9 Reasons to Love Your Mortgage
Published in the Wall Street Journal | July 26, 2014 | Written by Jonathan Clements In June, existing-home sales rose 2.6% from May to a seasonally adjusted annual rate of five million, according to the National Association of Realtors. As usual, a majority of buyers took out a mortgage. The hefty loan involved fundamentally alters the finances […]
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 […]
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 […]
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 […]
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! […]
Six Crucial Questions for Seniors
Even for “glass-half-full” people, the prospect of growing older might not be exclusively joy-filled. For others, it can be downright frightening: what if I get sick? Suppose I run out of money? Yet with all the issues that accompany aging, few of us want to face head-on the realities that the latter decades of life […]
8 Myths about Reverse Mortgages
Have you heard about reverse mortgages, but aren’t quite sure if they’re legitimate or a scam? Are you wondering if one is right for you or an older homeowner you know? Also known as Home Equity Conversion Mortgages (HECMs), reverse mortgages have become increasingly popular in recent years. As a result, many misperceptions have […]
You Don’t Have to be Poor to Benefit from a Reverse Mortgage
Do only poor people get reverse mortgages? No! In a Wall Street Journal article written on August 16, 2013, Kelly Green says that reverse mortgages can help people of all socio-economic levels, not just those struggling to stay in their homes. At least 595,000 households have an outstanding reverse-mortgage loan, according to the National Reverse Mortgage Lenders Association, […]
WSJ: Reverse Mortgages Can Benefit Retirees, Both Wealthy and Not
Published on WSJ.com | August 16, 2013 | Written by Kelly Greene Move Can Help Retirees Keep Investments Until Right Time to Sell Reverse mortgages aren’t just for people struggling to keep their homes anymore. The loans also can work for well-heeled retirees looking for a buffer to keep them from selling investments at the wrong […]
What Really Happens to Your Reverse Mortgage After You Die?
The question people are always wondering about is: what happens to your home after you die if you have a reverse mortgage? The FHA has made this something you want to hear about! Watch this short video where Steve Haney, also known as The Mortgage Doctor of Colorado, answers this question completely. And if you […]
ReverseReview: Change is Good
Reverse Review published a spolight article entitled “Change Is Good. You Go First,” in the April 2013 issue, written by Shelley Giordano. The article discusses the role of the financial planner in using home equity to enhance retirement distribution planning. They say: For many years, Barry Sacks has been investigating the selective use […]
8 Myths about Reverse Mortgages
Have you heard about reverse mortgages, but aren’t quite sure if they’re legitimate or a scam? Are you wondering if one is right for you or an older homeowner you know? Also known as Home Equity Conversion Mortgages (HECMs), reverse mortgages have become increasingly popular in recent years. As a result, many misperceptions have sprung up. […]
How Steve Helped an Older Couple Whose Circumstances Changed
http://www.ProvidentLending.net http://www.ReverseMortgageInstitute.net Steve takes a few minutes to talk about a couple who heard the radio show and called him, and how he solved their problem. They both lost their jobs and had monthly bills that were hard to make. Steve helped them refinance with a vet loan, and now they are doing better. Listen […]
RMD: Fox Business Says Reverse Mortgages Attracting Younger Borrowers
Published in Reverse Mortgage Daily | March 10, 2013 | Written by Jason Oliva Reverse Mortgages are no longer of interest to only older retirees, but rather an increasing number of younger baby boomers have begun looking toward the equity-tapping loans as a retirement asset, Fox Business reports. The demand among younger borrowers, Fox hypothesizes, […]
Steve Haney Explains his Calling–Helping People with Mortgages in Colorado
http://www.ProvidentLending.net Do you have a clear understanding of what your calling is in life? If you do, then you know that performing that calling is more than just good business–it’s helping people. In this short radio interview with Paul Shideler, Steve Haney explains how his business and his caring for people are connected through his […]
RMD: WSJ Highlights Reverse Mortgage Purchase Success
You can apply for a reverse mortgage in Coloradoif you are over the age of 62. Published by Reverse Mortgage Daily | January 29 2013 | Written by Elizabeth EckartReverse Mortgage Daily Reports:“The Wall Street Journal today published an article describing the successful use of a reverse mortgage for purchase that helped a 70-year-old widower move closer […]
Steve Haney Talks about Refinancing Your Home
Because Steve is an independent contractor, he can help you refinance your home in a way that big banks can’t. If you’ve been turned down by someone else, call Steve at (719) 266-5500 to find out if he can help you refinance today. http://www.ReverseMortgageInstitute.net
Steve Talks About What a Reverse Mortgage Can Do For You
http://www.ReverseMortgageInstitute.net Join Steve Haney on Colorado Springs Real Estate radio for the basics of Colorado Reverse Mortgages, and tips about them. And when you’re ready, call Steve! 877-854-1720
CSBJ: 64-Room Assisted-Living, Alzheimer’s and Memory Center Under Construction in North Colorado Springs
Published by The Colorado Springs Business Journal | January 7 2013 | Written by Amy Gillentine A $13 million assisted living and memory care center is under construction at 5355 Centennial Blvd. in northern Colorado Springs. MorningStar at Mountain Shadows will include 45 assisted living suites and 19 individual care suites for Alzheimer’s patients. The development of […]
CNNMoney: Fed – Mortgage rates won’t get much lower
Published by CNN Money | January 3 2013 | Written by Stephen Gandel, Senior Editor The Federal Reserve’s efforts to help the mortgage market may have reached their limit. FORTUNE — If you are looking to refinance your mortgage, this is close to the best deal you’re going to get. That’s the message from two […]
RMDaily: Mortgage Professor Debunks Myths on Reverse Mortgage Fees
Published by Reverse Mortgage Daily | January 1 2013 | Written by Jason Oliva A bad rap reverse mortgages have taken is the belief that their upfront fees are too high, writes Inman’s “Mortgage Professor,” Jack Guttentag. The idea is tied to the belief that reverse mortgages are relative to standard mortgages, when in all […]