Reverse Mortgage Info - Basic Requirements

Colorado reverse mortgage lenders have a basic set of requirements to determine who might be eligible for reverse mortgages. For instance, senior home owners must be 62 and older to qualify for a reverse mortgage loan. If there is a couple involved in the transaction, the youngest of the two ages will be used to calculate the formula. Also, candidates must own their home as their primary residence.

The amount of funds that clients can qualify for is based on their age, the property’s value, existing liens, the location and current interest rates. There are no minimum income requirements to qualify for a reverse mortgage. Credit scores are not a factor for qualifying. (more…)

The demographics are changing from years ago. It used to be that only individuals were seeking a reverse mortgage. Today, more and more couples are seeking out reverse mortgage information and applying based upon their needs and desires for travel, investing, home improvement projects, and hiring home care.  So what is a reverse mortgage, really? (more…)

In many cities including Denver long term care planning is essential to keeping seniors in their home as long as possible.

As a home care provider in the Denver, Colorado metro area for the last six years, I have seen firsthand how helping elders to remain at home benefits them greatly. I have yet to encounter an elder who just can’t wait to head to the nursing home. Yes, nursing homes do have their place but only as a last resort in my humble opinion. For some folks an assisted living arrangement could be beneficial but most prefer to default to the familiar — their home. And long term care planning is essential in achieving that goal. (more…)