The Best Reverse Mortgages

A reverse mortgage (aka HECM) can be used to pay for a retirement plan, estate plan or a will. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

A new study by Bankrate.com ranked all 50 states according to a variety of factors that are important to seniors.  These factors included low cost of living, strong health care system, low crime and tax rates, comfortable temperatures, lots of sunshine and low humidity.  The highest scoring spots were in the Midwest and West, with only one of the top states on the East Coast.  The top spot belongs to the state of Wyoming for its low taxes, good weather and low crime rate.  Then, following in order are Colorado, Utah, Idaho and Virginia coming in at number 5.  The state with the worst appeal for retirees is Arkansas.  Read the entire study here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

The HECM for Purchase program is becoming more and more popular as senior homeowners continue to buy and sell homes.  The National Association of Realtors conducted a recent survey titled " Home Buyer and Seller Generational Trends " which shows a trend emerging among baby boomers.  The findings show that 30% of baby boomers (nearly 24 million people) have recently purchased a home, and that 43% (roughly 33 million) have recently sold a home.  There are different motivations that have been documented on why the demand to buy and sell, however one thing for sure is that this segment of the population is making an impact on the housing market. Research has shown that senior homeowners prefer to pay cash for their home to avoid monthly mortgage payments.  One downside of this is the amount of cash tied up in real estate which causes a lack of liquidity for other retirement and investment needs.  The HECM for Purchase (H4P) will finance over 50% of the sales price allowing th

Use a HECM, also known as a reverse mortgage, to create a set aside to pay real estate taxes and property insurance. For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222

Many might think that baby boomers would rather downsize due to emptying nests, however a recent study by Trulia reveals the opposite.   One of the questions asked was whether their ideal house should be smaller or larger than their current home, in which 53% stated they were already in their ideal size home.  However, 26% would opt for a larger home while  21% would prefer a smaller one.  A small difference between the latter two which clearly points out that there is not a yearning desire to downsize.  Read the entire article  here . For more information on reverse mortgages and other related topics contact: Rick R. Rodriguez Certified Reverse Mortgage Professional, CRMP NMLS# 473353 Toll Free (877) 500-0454 Local (702) 460-6222