Here Is A Logical Discussion About Why You Should Buy A Home Now

The debate continues about when is the best time to buy a home...when prices are down, when prices are rising, when interest rates are down or when interest rates are rising.  When prices and rates go up, there is a fear that if one waits, it will be much more expensive to buy.  When prices and rates are down, greed comes into play, and the strategy is waiting until the prices or rates have hit rock bottom.  Well, we hit bottom a few years ago, and there aren't really any signs in our market that prices or rates are going to head downward anytime soon.  So, what are the logical reasons that you should buy now.  Read more here.

Top Financial Worries For Seniors Are Increasing Costs of Living and Unexpected Medical Expenses




 The top financial worries that weigh heavy on older Americans are increasing costs of living and unexpected medical expenses, according to a new report.   Specifically, the 2015 report states:

 "Financial concerns: The top financial worries that keep older Americans up at night are increasing costs of living (28 percent) and unexpected medical expenses (24 percent). Professionals express an even greater level of concern about unexpected medical expenses: Eighty-seven percent rank this issue as their top financial concern. Other financial concerns professionals have include not having enough disposable income (84 percent compared with 18 percent of seniors nationally) and being vulnerable to financial scams (83 percent compared with only 13 percent of older adults). Additionally, while less than a quarter of older adults anticipate needing support managing their finances as they age, the majority of professionals stress this will be a need (19 percent and 86 percent, respectively)."

Read more here.

Why Reverse Mortgages Are Perfect For The "Almost Affluent"

When reverse mortgages first entered the marketplace, the perception was that only those people who had no other options for their retirement needed them and pursued them.
That perception is starting to change, as wealthier people and financial planners embrace the concept as a tool to strategize with other retirement investments.  Read more.


Keep Your Home California Provides Financial Relief For Seniors In Default On Property Expenses

Reverse Mortgage Assistance Pilot Program

The Reverse Mortgage Assistance Pilot Program was developed to provide assistance to low-to-moderate income senior homeowners who are in danger of losing their home to foreclosure due to their inability to pay the required property expenses associated with their Federal Housing Administration (FHA) Home Equity Conversion Mortgage (HECM) loan.
The Reverse Mortgage Assistance Pilot Program will provide an up-front, forgivable loan to eligible homeowners to be used to reinstate past due amounts (property taxes, homeowner’s insurance, homeowner’s association dues or assessments, and other approved property-related expenses) that were paid on their behalf by their mortgage loan servicer. Those who qualify for the program will also receive an advance of their approved property expenses for up to an additional twelve (12) months to enable the homeowner to recover from their hardship. The maximum amount of assistance is $25,000 per household.

Download Program Description


Participating Servicers

In order to qualify for the Reverse Mortgage Assistance Pilot Program, your HECM servicer must participate in the program. Below is the list of servicers participating in the Reverse Mortgage Assistance Pilot Program.
 Reprinted from www.keepyourhomecalifornia.org

According To The Huffingtonpost, A Reverse Mortgage Offers Undeniable Benefits





The internet is full of articles on Reverse Mortgages that focus on imagined or exaggerated negative features.  Many authors fail to present all facets of a mortgage that can solve many problems for the seniors who are outliving their original retirement plan.  Finally, the Huffington Post lays out some of the reasons that seniors might want to consider all of the benefits of the Reverse Mortgage.  It is worth a read. Read more here