4 Min. Read
How to Pay Off Higher-Interest Debt with Proceeds from a Reverse Mortgage
If you're straddled with higher-interest debt, a reverse mortgage loan could help with your long-term financial goals and strategy.
Articles by Rudri Bhatt Patel
4 Min. Read
Why Reverse Mortgages Are So Misunderstood
Understanding facts versus fiction regarding reverse mortgages is important to understand.
4 Min. Read
Why Reverse Mortgages Aren’t Just For the Rich
Find out why a reverse mortgage loan isn't just a tool for the rich.
3 Min. Read
What Makes a Good Reverse Mortgage Candidate?
If you're curious to find out what makes a good reverse mortgage, here are some of the guidelines lenders will consider.
3 Min. Read
Understanding Loan-to-Value Ratios
Understanding the loan-to-value ratio on your home impacts how much you can borrower with a reverse mortgage loan.
3 Min. Read
What Are FHA Property Standards?
Find out more about the Federal Housing Act (FHA) minimum property standards.
4 Min. Read
Reverse Mortgage Facts and Statistics
There is a lot of confusion surrounding reverse mortgages. Here are some facts and statistics to help you separate truth from fiction.
4 Min. Read
Reverse Mortgage Proceeds: Understanding Your Options
Reverse mortgages give borrowers a variety of proceed options to choose from. Here is a rundown of the possibilities and how each works.
3 Min. Read
Everything You Need to Know about Advance Directives
Advance directives ensure healthcare wishes are carried out when a person cannot speak or advocate for themselves. Here's more about them.
3 Min. Read
Everything You Need to Know about a Power of Attorney
A power of attorney is an important part of an estate plan, but there are more uses for them than that. Here is a guide to the types of POA and how to set one up.
2 Min. Read
What are Area Agencies of Aging, and What Can They Do for You?
Find out about Area Agencies of Aging (AAA) and how they can help you and your loved ones.
4 Min. Read
Everything You Need to Know About Wills and Trusts
Depending on your estate plan you may need a will, trust, or both. Here is everything you need to need to know about wills and trusts.
6 Min. Read
9 Common Estate Planning Mistakes
Making an estate plan is an important step in creating security for your family. Make sure that you avoid these common mistakes to ensure your plan works for you and your family when you need it to.
5 Min. Read
What You Need to Know about a Living Trust
A living trust is established during a grantor's lifetime to ensure their assets are passed down in accordance to their wished. Here's what to know about a living trust.
3 Min. Read
8 Reasons to Put Your Home in a Trust
Putting your home in a trust offers multiple advantages to your estate. Here are 8 reasons it might make sense for you.
3 Min. Read
Why Diamond Painting Is a Great Hobby for Seniors
Not only is diamond painting a fun way to add some sparkle to your life, it can also offer some excellent mental and physical benefits to senior crafters.
3 Min. Read
6 Ways to Avoid Probate Court
When the time comes to pass on their estate, most people would prefer their heirs didn't have to deal with probate court. Here are 6 ways to set up your estate to avoid probate court.
4 Min. Read
Revocable vs. Irrevocable Trust
Look at revocable vs. irrevocable trusts to understand the differences and determine which one is a best fit for you.
4 Min. Read
Using a Charitable Trust to Secure Your Legacy
A charitable trust is a helpful tool to secure your legacy. Find out the types of charitable trusts and whether it is a right fit for you.
5 Min. Read
How to Negotiate Your Medical Bills
Medical bills can be surprising, but there are ways to negotiate charges. Here's what you need to know to negotiate your medical bill.
4 Min. Read
Nursing Homes Versus Assisted Living: What’s the Difference?
Both nursing homes and assisted living facilities provide care to people who need help. The difference starts with the level of care.
4 Min. Read
Five Types of Legal Documents You Need as You Get Older
Keeping legal documents up to date is important at any age, but as you get older having them ready and accessible can help you and your family avoid stress.
5 Min. Read
Navigating a Hospital Stay: A Stress-free Guide
Whether it's an emergency or a planned procedure, the prospect of a stay in the hospital is full of unknowns. Here's some advice for navigating your hospital stay that should ease your anxiety.
3 Min. Read
What Is “Non-Recourse” in a HECM?
Non-recourse status is an important benefit of a home equity conversion mortgage. Here's how it works and what it offers consumers.
4 Min. Read
Understanding Living Wills
A living will is a document that helps people specify healthcare decisions they would like to make in the event they cannot speak for themselves.
4 Min. Read
HUD Reverse Mortgage Foreclosure Guidelines
Foreclosure in a reverse mortgage is rare, but can happen. Here are the steps that lead to foreclosure in a reverse mortgage as mandated by HUD.
4 Min. Read
What Is a Reverse Mortgage Principal Limit?
A reverse mortgage principal limit is the maximum amount of money that can be borrowed with a reverse mortgage. Here's how the limits are determined.
4 Min. Read
How Does HUD Regulate Reverse Mortgages?
Overseen by the US Department of Housing and Urban Development (HUD), HECMs are subject to multiple safeguards and protections.
3 Min. Read
6 Smart Ways to Use Reverse Mortgage Proceeds
Because you can use reverse mortgage proceeds any way you like, they can be useful for a variety of retirement planning strategies. Here are 6 smart ways to use your proceeds.
3 Min. Read
The Truth About Reverse Mortgages
The truth about reverse mortgages is that they offer many borrowers a secure way of staying in their homes as they age and filling gaps in their retirement plan.
4 Min. Read
Everything You Need to Know About Social Security
Social security is a federal benefits program. Here is everything you need to know about how social security works, who it's for and when to start collecting your benefit.
3 Min. Read
Can You Use a Reverse Mortgage to Build an ADU?
The idea of building an ADU on your property is gaining in popularity. Using a reverse mortgage to pay for the construction is possible. Here's what you should know.
3 Min. Read
Who Regulates Reverse Mortgages?
Reverse mortgages are regulated by several government agencies. Here is an explanation of which agencies are responsible and what they do.
6 Min. Read
How Reverse Mortgages Got Such a Bad Reputation
Though not merited, reverse mortgages have had a hard time shaking a poor reputation. Here's how reverse mortgages got a bad rap and why it's not true.
4 Min. Read
Why Reverse Mortgages Aren’t More Popular
Reverse mortgages have been around for decades and are safer then ever. But though they offer a viable retirement planning tool for many, they haven't caught on in the mainstream. Here are a few possible reasons why.
5 Min. Read
When a Reverse Mortgage Isn’t Right For You
Though powerful financial tools, reverse mortgages aren't right for everyone or every financial situation. Here are 7 situations in which a reverse mortgage might not be a good fit and ways to make it work.
5 Min. Read
5 Common Reverse Mortgage Complaints
Often complaints about reverse mortgages come from misunderstandings. Get some context and the facts about reverse mortgages and common complaints about them.
2 Min. Read
Can You Walk Away From a Reverse Mortgage?
There are several ways to exit or walk away from a reverse mortgage before it comes to term. Contrary to a popular myth, none of them require that you pay a penalty.
5 Min. Read
The Difference Between a HELOC and a RMLOC
Many homeowners understand that they can borrow against the equity in their homes, typically with a home equity line of credit (HELOC), but many don&#
4 Min. Read
The Reverse Mortgage Process: A Timeline
It's difficult to say exactly how long the process to take a reverse mortgage takes, but here is a general timeline to give you an idea of what to expect.
5 Min. Read
Retirement Planning for Single Seniors
Retirement isn't one size fits all. If you're single, here are some special considerations to make when putting together your retirement plan.
3 Min. Read
What Is a Reverse Mortgage Maturity Event?
The term of a reverse mortgage is dependent on a number of qualifying conditions. An event that leads to these conditions no longer being met is a maturity event.
3 Min. Read
Should You Pay off Your Mortgage When You Retire?
Deciding whether to pay off your mortgage when you retire is dependent on your specific financial situation and plan. Here are some questions to help you consider the best course of action.
3 Min. Read
What to Do if You Don’t Have Enough Equity for a Reverse Mortgage
A reverse mortgage requires that borrowers have substantial equity in their homes. Here are some options if you don't have enough equity to qualify.
6 Min. Read
What to Expect at Every Stage of a Reverse Mortgage
If you decide to take out a reverse mortgage, you will experience different aspects of the loan as the process evolves. To help borrowers and potentia
3 Min. Read
Bankruptcy and Reverse Mortgage: Impact and Considerations
The ways that bankruptcy and reverse mortgage impact each other are complicated. Here's a basic primer on how one affects the other and what it means for reverse mortgage borrowers.
4 Min. Read
Can You Outlive a Reverse Mortgage?
It is not possible to outlive a reverse mortgage, however, you can outlive available proceeds. Careful financial planning can prevent running out of funds unexpectedly.
5 Min. Read
HECM Versus a Proprietary Reverse Mortgage
Both HECMs and proprietary reverse mortgages are reverse mortgages. However, there are some important differences to understand before deciding which is right for you.
3 Min. Read
Jumbo Reverse Mortgages: Who Are They For?
A jumbo reverse mortgage is another way of referring to a proprietary reverse mortgage that offers a larger loan limit than a HECM. Here's what makes them different.
2 Min. Read
Title and Reverse Mortgages: What You Need to Know
When you take a reverse mortgage, the title to your home remains in your name. Here's what a title is and how it works with a reverse mortgage.
3 Min. Read
Reverse Mortgage Qualifications in California
Getting a reverse mortgage in California is very similar to other states with a few key differences that give borrowers extra rights.
4 Min. Read
What to Know About Funding Education With a Reverse Mortgage
A reverse mortgage is a possible way of helping a child or grandchild get a secondary education. Here's what you should know before you decide to fund their education with a reverse mortgage.
3 Min. Read
Will a Reverse Mortgage Affect My Social Security
A reverse mortgage will not affect your social security, but it can have an impact on other government need based programs.
5 Min. Read
Educational Travel Resources for Seniors
Find an educational trip that suits your interests and lifestyle to a tee with our complete list of educational travel resources for seniors.
7 Min. Read
12 Retirement Questions Financial Advisors Hear Most Often
The topic of retirement finances brings up endless questions. Here the the 12 questions financial advisors are asked by their clients most often.
4 Min. Read
What’s the Difference Between Medicare and Medicaid?
Though the names sound the same, Medicare and Medicaid are different government programs that serve largely different groups of people. There are however, some overlaps.
5 Min. Read
Understanding Mortgage Insurance Premiums
If your mortgage requires you to have mortgage insurance, you'll pay mortgage insurance premiums or MIPS. Here's what you will want to know about how they work.
3 Min. Read
How Seniors Can Become More Tech Savvy
The world of tech has many solutions for older people. An open mind and a willingess to learn may be all it takes to benefit from the latest technology.
4 Min. Read
Assessing the Risks of a Reverse Mortgage
Understanding the risks of taking a reverse mortgage starts with understanding how these financial tools work and the protections they have built in.
6 Min. Read
Traditional vs. a Reverse Mortgage: A Comparison
A traditional mortgage and a reverse mortgage have some similarities, but function quite differently. Here is an explanation of how each works and what that means for potential borrowers.
4 Min. Read
Home Equity Loan vs. a Reverse Mortgage
Both home equity loans and reverse mortgages allow homeowners to borrow against the equity they've built up in their homes. However, there are some important differences between the two loan types.
5 Min. Read
How to Create a Trust Fund for Your Heirs
A trust is an important part of many people's estate plans. Here are the steps to creating and funding a trust.
3 Min. Read
Can I Get a Reverse Mortgage on a Mobile Home?
A mobile home is a specific type of dwelling that is not eligible for a reverse mortgage. A manufactured home, however, can be eligible. Here's how you can tell the difference.
5 Min. Read
Legacy Planning: How to Make Digital Assets Accessible to Heirs
Digital assets are an important part of your legacy. Learn how you can ensure loved ones have access to them as part of your estate plan.
4 Min. Read
What Happens During a Home Appraisal?
An appraisal is an important part of taking any home loan, here is what homeowners can expect from the process.
4 Min. Read
A Non-Borrowing Spouse Guide to Reverse Mortgage
Spouses not eligible for a reverse mortgage can be afforded rights and protections should something happen to the spouse listed as a borrower on the loan.
4 Min. Read
What Are the Downsides of a Reverse Mortgage?
Understanding potential downsides to a reverse mortgage can help you determine if this financial tool is a good fit for your needs.
3 Min. Read
What Is the Role of a Loan Servicer?
A loan servicer is one part of the team that does the behind the scenes work on a loan. Here's what this important role is responsible for.
3 Min. Read
Legacy Planning: Granting Family Access to Your Bank Accounts
An easy and important part of estate planning is making it possible for your heirs to access your bank accounts after you've passed. Here's how to do it.
4 Min. Read
Why Pickleball Is a Great Sport for Seniors
Chances are someone you know plays pickleball. Interested in giving this popular sport a try? Here are some tips to get you started.
2 Min. Read
Can Family Members Get a Reverse Mortgage Together?
Sharing a reverse mortgage with another person can be a good way to ensure all parties have the right to stay in the home should something happen to one of them.
4 Min. Read
What Fees Do You Pay With a Reverse Mortgage?
There are fees and costs associated with taking out any mortgage, and reverse mortgages are no exception. Here is a detailed list of the fees you can expect to pay when you take a Home Equity Conversion Mortgage (HECM).
4 Min. Read
How Much Equity Is in My House?
Learn how to calculate your home equity and how understanding it can help you leverage it to your advantage.
4 Min. Read
How Does a Reverse Mortgage Line of Credit Work?
A reverse mortgage line of credit has some unique features that can make it both a useful tool in the present and security for the future.
3 Min. Read
Fight Inflation With a Reverse Mortgage
When inflation is high, a reverse mortgage offers some unique ways of fighting the pinch of rising prices.
3 Min. Read
Reverse Mortgage Tradeoffs: What You Give, What You Get
In any financial transaction there are tradeoffs. Here's a rundown of what you give up and what you gain when you take a reverse mortgage.
5 Min. Read
Reverse Mortgage: A Guide for Children and Heirs
After the last borrower on a reverse mortgage passes away, the loan needs to be settled. Usually, that responsibility falls to the heirs. Here's what they can expect.
3 Min. Read
What to Tell Your Adult Children About Your Estate Plan
Sharing information about what's in your estate plan with your adult children is a simple way to help them navigate your estate when the time comes.
3 Min. Read
Can I Get a Reverse Mortgage on My Condo?
FHA-approved condos are eligible for home equity conversion mortgages. Here's how you can find out if yours is eligible, and what to do if it isn't.
6 Min. Read
How to Have Difficult Conversations With Aging Parents
With certain conversations it can be difficult to know where to start. Learn how to initiate essential conversations with your parent, when to talk and when to listen.
3 Min. Read
What Happens When a Reverse Mortgage Borrower Dies?
When a reverse mortgage borrower passes away, the loan will become due and payable. Here's what heirs and borrowers should know about what happens next.
4 Min. Read
Types of Trusts
Learning about the different types of trusts can help inform which makes the most sense for your estate and needs.
2 Min. Read
Reverse Mortgages and Credit Scores: What Borrowers Should Know
Credit ratings and mortgages go hand in hand, but as with most things reverse, when you are taking out a HECM credit works a little differently.
3 Min. Read
What Happens to a Reverse Mortgage After a Divorce?
Divorce can impact a reverse mortgage in a variety of ways. This overview offers options for several different situations.
5 Min. Read
Educational Resources for Seniors
You may have said goodbye to your school days many years ago, but there are compelling reasons to revisit your education in retirement. Here's a few places to start.
3 Min. Read
Reverse Mortgage Eligibility Requirements
Understanding the eligibility requirements of a reverse mortgage can be helpful in deciding if these financial vehicles are right for you.
7 Min. Read
Estate Planning Basics: What’s Included and 6 Steps to Make Yours
Estate plans are essential to retirement planning, but that doesn't mean they need to be intimidating or complicated. Here's what they are and how to make one.
3 Min. Read
Attaining Bliss: Finding Fulfillment After Retirement
If you're struggling to find happiness in retirement, these tips and strategies can help get you on a better track.
7 Min. Read
How Do Reverse Mortgage Interest Rates Work?
Interest rates accrue and get paid differently on a reverse mortgage than on other loans, here's what potential borrowers need to know.
5 Min. Read
Writing Your Family History: Tips for Non-Writers
Writing a family history and committing treasured stories to paper makes a meaningful heirloom to pass on to future generations. Here's where to start.
5 Min. Read
6 Hiking Tips for Seniors
Whether hiking is a new hobby, or a lifelong passion, these six tips will help keep safe and healthy on the trail.
3 Min. Read
What Is a Pension?
Less common than they once were, pensions are savings vehicles for retirement. Here's who gets one and how they work.
4 Min. Read
Assistive Technology Products for Older People
Chances are if there's something in your life you'd like to make easier, there's a device or gadget to help you.
4 Min. Read
Cash-Out Refi Versus Reverse Mortgage
Deciding which type of loan is best suited to your needs can be tricky. Here's a rundown of the differences between a cash-out refinance vs. a reverse mortgage.
4 Min. Read
Home Equity Conversion Mortgage for Purchase Explained
Reverse mortgages aren't just for homes you already own. You can use one to purchase a new home as well.
5 Min. Read
Pros and Cons of a HECM
Weighing the benefits of a HECM against the potential downsides can help you assess how well this financial tool will work for your situation.
4 Min. Read
Should I Get a Reverse Mortgage?
Reverse mortgages make sense for many people. Whether it's right for you depends on multiple factors.
3 Min. Read
How Much Money Can You Get From a Reverse Mortgage?
Wondering how much money can you get from a reverse mortgage? The answer depends on multiple factors including your age, value of the home, and more.
3 Min. Read
What Is Home Equity?
Home equity is a valuable tool that can help you finance your retirement. Learn how you can maximize the benefits of your largest asset.
5 Min. Read
What Is a Home Equity Conversion Mortgage (HECM)?
A home equity conversion mortgage is a reverse mortgage insured by the FHA. Here’s a guide to how they work and who might qualify.
3 Min. Read
What Is a LESA?
Life Expectancy Set Aside (LESA) funds are proceeds earmarked through the reverse mortgage process to pay property taxes and other expenses.
9 Min. Read
How Does a Reverse Mortgage Work?
A reverse mortgage allows a qualified borrower to access their home equity. How does a reverse mortgage work? Here's what you need to know.
7 Min. Read
What Is a Reverse Mortgage?
Find out if you are eligible for a reverse mortgage, how they work, and how you may be able to access your home equity and stay in your home.
5 Min. Read
10 Myths About Reverse Mortgages
Learn about the myths surrounding reverse mortgages and find out the truth about how these financial vehicles really work.
4 Min. Read
Why More Financial Advisors Are Recommending Reverse Mortgages
Discover the reasons why more and more financial advisors are recommending reverse mortgages as financial tools for retirement.