As retirement approaches, many seniors look to reverse mortgages as an additional tool for making the most of their “golden years” and ensuring greater independence and peace of mind. So why are seniors considering reverse mortgages?

• Benefit from a proven, safe financial tool
  Many homeowners age 62 and older in Colorado and across the nation are enjoying the benefits of a reverse mortgage. It can be a key component of a well-balanced retirement plan, providing seniors with extra cash to live a more fulfilling and independent life. With built-in government safeguards, it’s a financial tool that can be used with confidence. Read the rest of this entry »

Whether they admit it or not, the Boomers are getting older and experiencing some of the common fears associated with the aging process. Some can be somewhat controlled like keeping their good health. Diet, exercise, stress release and other considerations may help keep the Boomers out of the medical system and help maintain a reasonable quality of life as they “get up in there.”

A major fear on most elders minds is the fear of either out-living one’s money or just not having enough to enjoy life in the Golden Years. We all know the issues with Social Security and even if it were to be managed properly, few people can make ends meet with those checks. And it’s a fact that many Boomers are living beyond their means. Debt is at an all time high in this country. The mortgage crisis is impacting many people’s largest asset — their home equity. So for many Boomers, their financial fears are real and justified. Read the rest of this entry »

Reverse mortgage lenders address key questions seniors have regarding reverse mortgages

Q: How do I qualify?
A: If you’re 62 or older and own your home, you’re eligible for a reverse mortgage. There are no income qualifications.

Q: How much money can I hope to get from reverse mortgage lenders?
A: That depends on facts such as your age and your home’s appraised value. Generally, the older you are and the more your home is worth, the more money you can hope to receive. Your reverse mortgage lender will be able to give you the exact amount. Read the rest of this entry »