Guest speaker Vanessa Alanis will be presenting, "Education Planning: Student Loans and Beyond."
05-16-2024 | 12:00 - 13:00 ET
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
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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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
Scholarships c. Student Loans i
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DEPARTMENT OF JUSTICE ANNOUNCES COMPENSATION FOR SERVICEMEMBERS AS PART OF SETTLEMENT WITH BANK OF AMERICA http://www.justice.gov/opa/pr/2011/November/11-ag-1487.html WASHINGTON – The Justice Department announced today that, as part of its settlement with BAC Home Loans Servicing LP, a subsidiary of Bank of America Corporation, servicemembers whose homes were unlawfully foreclosed upon will each receive a minimum $116,785 plus compensation for any equity lost to compensate them for the bank’s alleged violation of the Servicemember Civil Relief Act (SCRA)
We have spent years working with hundreds of advisory businesses and talking to thousands more. It is time to share the honest truth. The fee-only independent advisory industry is changing rapidly with consolidation and closure of firms due to a lack of sustainability. This is occurring because...
2 Comments - It might take a lot of informational interviews so hopefully you can juggle being a student and intern with meeting with lots of owners...I am a Financial Planning student looking to one day work in an advisory/planning role
What if your business defaults on an open vendor account, a mortgage, or a secured bank loan? If the debt is personally guaranteed by you as the owner, you might be exposing yourself to a lot of unnecessary risk
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