According to a new report from the Federal Reserve Bank of New York, $40 billion in student loans are owed by Americans who are 60 years and older
My broker-dealer just allowed me to start charging fees for advice. I think this is great but I'm not sure what I should be charging.
Haven't had a chance to read the 1,363 pages of the SEC's Investment Advice Rule Package? No problem, FPA has you covered! Join us for ‘A Deep Dive Into the SEC’s Investment Advice Rules Package’ on July 18 at 2:00 pm ET
The world of savings and finance is ridden with jargon, complex equations, contradictory advice, and endless suggestions...Does everybody need professional financial advice?
Are Reverse Mortgages America's Most Hated Loan? A recent Bloomberg article is off track: the biggest problem with reverse mortgages isn't the financial instrument or providers, it's unrealistic expectations about them
2 Comments - If life insurance is an opiton, you could use the death benefit to repay the loan in the future at a certain death effectively opening up the cash flow from the death benefit.
In the Spring of 2018, homeowners with considerable equity, and homes worth over $900,000 had one jumbo reverse mortgage choice: a fixed rate loan that required all proceeds be distributed at closing
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Sigh - not sure if this message is being posted 17 times or not at all - here's one more try: It seems that the reason we do financial planning in the first place is to maximize our financial resources. We all recognize that our most valuable asset is our ability to earn, manage and...
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Now, there are Jumbo Reverses with loan amounts up to $4,000,000.00. This loan can be a fixed rate, a line of credit first or a line of credit second
1 Comment - hello, on i a high value home, and a new loan amount, what is the interest rate range on those?
The centerpiece of this strategy is using a reverse mortgage as a purchase-money loan. You can’t say this is a misunderstood strategy because almost no one knows anything about it. Below we'll cover five key points... 1) The 4 parts of the reverse purchase strategy 2) An example of the strategy 3) Who needs it and who is involved 4) How it benefits seniors 5) Demographic trends and opportunities The 4-Part Reverse Purchase Strategy 1) Sell a house that doesn't fit - too big, two story, too expensive 2) Buy a better house with a HECM - no monthly mortgage payment 3) Invest or save excess sales proceeds to create a cash cushion 4) Minimize property taxes - e.g., CA Prop 60/90; TX tax freeze portability Reverse Mortgage Purchase Loan Before we go further, let’s quickly review reverse mortgage basics. It is a non-recourse loan, based on equity in a home, that does not get paid back until the last borrower sells or permanently leaves the house. If the house isn’t worth as much as the loan balance at the end, that’s not the borrower’s problem – the shortfall is forgiven
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