Reverse Mortgage Information - From A to Z

How a Reverse Mortgage Can Help You Buy a New Home

Posted - July 23, 2015

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

When you were younger, your home was the perfect place.  Your spacious backyard, shaded by trees, provided the place for your children to run, laugh, and play.  Your kitchen, along with your fully stocked fridge, continuously provided plentiful meals to feed your growing family.  Your living room and den, outfitted with the television of the house, served as the family gathering spot to lure each member away from their individual rooms in order to cultivate family bonding time.

During

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Key Factors That Determine Your Reverse Mortgage Loan Payout

Posted - July 21, 2015

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

When the idea of the reverse mortgage loan was first conceived in the early 1960’s, people quickly began to recognize that the concept was a brilliant answer to a common challenge.  Many senior homeowners wanted access to their home equity to help fund retirement while remaining in their home—and a reverse mortgage loan could help them do just that.  In addition, the loan proceeds would pay off any existing liens, thus eliminating the homeowner’s monthly mortgage payment.  Borrowers are

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The Most Common Way to Repay a Reverse Mortgage

Posted - July 17, 2015

AAG Launches Wholesale Division

When you first begin to learn about a reverse mortgage and its associated advantages, your initial impression may be that the loan product is “too good to be true.”  After all, a key advantage to this loan, designed for homeowners age 62 and older, is that it does not require the borrower to make monthly mortgage payments. Borrowers are responsible for paying property taxes, homeowner’s insurance, and for home maintenance. Though at first this advantage may make it seem as if there is no

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Is a Reverse Mortgage Loan Right for You?

Posted - July 15, 2015

As a homeowner, you may have heard of reverse mortgages from friends, family members, or on TV. Reverse mortgage loans, including the government-insured version called Home Equity Conversion Mortgages (HECMs), are home loans that enable seniors to access a portion of their home equity without having to pay a monthly mortgage payment. Borrowers are responsible for paying property taxes, homeowner’s insurance, and for home maintenance. This unique feature, as well as several others, are why these

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Understanding What a Reverse Mortgage Loan Means For You

Posted - July 10, 2015

As you near retirement, you may be looking more closely at your financial statements to realizing that supplementing your retirement income may be a good idea.  What you may not realize is that as a senior homeowner you may have the means to do it right now.  After all, you have worked tirelessly for the last thirty years paying a monthly mortgage to build equity in a beautiful home you call your own.  And now all those years of hard work and all the equity you have saved may be enjoyed

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How Much Equity is in My Home?

Posted - July 6, 2015

When you first bought your house, the last thing you may have thought about was its potential as a vehicle to fund your retirement. Your home was simply a place to share with your spouse, raise your children, and enjoy your family. It has been a humble setting for some of the best moments of your life. But now as retirement nears, you may begin to see your home not only as a place where important memories are created, but also as an important investment that grows for the future. Your home may

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What is an Equity Loan?

Posted - July 2, 2015

Buying a home is a major milestone in anyone’s life. You’ve worked hard to maintain your home through the years. Perhaps you’ve upgraded your kitchen, installed new floors, painted a new exterior color, or remodeled the bathroom. Not only do these enhancements bring personal satisfaction, but they may also increase an important aspect of your home: its equity.

In its simplest terms, home equity is defined as your home’s current market value minus what you owe on it. Equity is your asset,

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Featured Article: 7 Ways to Use a Reverse Mortgage Loan as a Financial Planning Tool

Posted - June 30, 2015

Robert Kane and Dennis Loxton Join AAG National Field Sales Team - American Advisors Group

In the past, the main purpose of a Reverse Mortgage was to help seniors to fulfill cash needs by allowing them to pull the equity in their homes. But today, many seniors are finding that even if they don’t particularly need to fulfill a cash need, they can take advantage of a reverse mortgage as a tool to use strategically in retirement planning. Here are 7 ways a reverse mortgage may be used as a financial planning tool.

1. You can delay Social Security and pension payouts
Some seniors

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Does My Home Qualify for a Reverse Mortgage?

Posted - June 30, 2015

If you are like many senior homeowners, your home is your pride and joy. Perhaps you chose each individual bathroom fixture with care, after flipping through hundreds of catalog pages. Or you planted and nurtured each tree with your very own hands, and watched them grow taller every year. Or maybe, even when it came time to replace your roof, you researched options so well that you knew more about roofs than the expert at the hardware store. Now that you’re in retirement age, you may discover

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