Have you ever stopped and really looked at your life? How you spend your mornings, your work day and evenings at home with your loved ones?
Continue readingSimple Suggestions to Dispel Senior Doldrums
If a reverse mortgage client or prospect — or any older friend — is feeling blue, consider printing out these ten suggestions and offering them, along with warmth and support, as possible mood elevators…
Continue readingThe Cost of Change
With August HECM endorsements hitting a nine year low of 3,200 plus loans many are beginning to ponder the long term effects of HUD’s recent spate of changes to the federally-insured reverse mortgage program. August’s numbers show the lowest monthly volume of endorsements and three trailing months since June 2005 when only 3,139 HECMs were endorsed…
Continue readingEstate Planning / Part 2: Avoiding Financial Regrets
One of the most touted benefits of a reverse mortgage is the peace of mind that comes from knowing that as a senior ages, they’ll have the funds they need to remain in their beloved home, pay the property taxes and upkeep, and still have enough left over to be able to afford necessities and niceties such as food, utilities, clothing, and whatever forms of entertainment they most enjoy.
Continue readingNew HECM: Old Issues Remain
The ‘New’ Reverse Mortgage. It’s a timely title considering the slate of recent changes to the HECM program and NRMLA’s Extreme Summit television ads which tout a new reverse mortgage. While one could accurately surmise we have a ‘new’ product we still face some of the same old challenges of years past.
Continue readingBecoming a Strategic Thinker
Business strategy coach and author Michael Porter said “The essence of strategy is choosing what not to do”. Common wisdom has taught us that if we just work harder we will succeed. But will we?
Continue readingEstate Planning / Part 1: Digital “Afterlife”
Even seniors who carefully plan for the disbursal of their worldly assets can leave beneficiaries arguing about who is really entitled to Aunt Betty’s antique rocker or mom’s diamond ring. But until now, no one has disputed who owns a family member’s Facebook account.
Continue readingDo Rising Interest Rates Trigger Slower Home Appreciation?
As loan interest rates rise banks & lender’s refinance business will dwindle forcing them to loosen lending standards to compete for potential borrowers. While this mostly applies to traditional mortgage lending relaxed lending standards result in more qualified buyers increasing housing demand and prices alike.
Continue readingOur Industry’s Choices will Determine our Future
Due to economic and regulatory pressure the HECM program has evolved rapidly in recent years. The truth is the choices that our industry collectively makes today will determine the outcome of tomorrow. What changes can we anticipate in the coming year?
Continue readingHow to Hone Your Creative Edge
We’ve explored ways older adults might become creativity mavens in their later years. And how, for some elders, technology is igniting a fresh creative impulse in their neural networks. We’ve even suggested trying something new every day for a year. Still, busy professionals can fall prey to creative complacency.
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