A SENIOR DECISION: RENT OR BUY? by Mike Kirkland Making financial decisions doesn't get any easier, as we age. In fact, in some ways, the choices become more difficult because time is no longer on our side. If you get tripped up as a youngster, oh well, you have time...

The Old Player Piano

Recently, I had a conversation with a 40-something about her parents.  Their retirement choices are not always easy or logical. Often, the old folks come to the realization they are on their own. Tough decisions lie ahead. Financial and logistic issues, if proper decisions are not made, may well put old folks in harm’s way. This world of tough decisions for seniors is my wheelhouse.  I spent more than 40 years, as a CPA, educating and advising my clients on their financial affairs.  I offer you a free consultation to explore the issues and strategize solutions.  A Reverse Mortgage may play a role in your future plans.

An Unlikely Symbiotic Relationship: Millennials and Baby Boomers

Millennials, Baby Boomers and Real Estate – In so many cases, seniors live in homes where they raised their children. More and more seniors are learning they can sell that old place and move into a home that fits their needs.  With a Reverse Mortgage, Baby Boomers can eliminate the monthly mortgage payment, providing an even greater tool for their own financial well being. Call me today with your questions. Let’s strategize the optimal plan for you!

Being Independent Never Gets Old

Independence is a wonderful condition.  In our youth, we see our future as a broad panorama, full of opportunity and almost unlimited choices. But ss we propel into about our sixth decade, stuff happens!  o a degree, stress and worry over finances can have serious health consequences. The whole thing boils down to one thing – MONEY! I may have a very viable solution to these money problems.  It is a Revere Mortgage. Call me for a free consultation to determine if a reverse mortgage is optimal for you, your friends and family.

Reverse Mortgage Myths

The National Housing Act of 1987 outlined the specifics of what would become an extremely valuable piece of legislation to provide financial assistance to the elderly. Thus began FHA insurance of Reverse Mortgages and many other safeguards to create a safe environment for seniors to obtain needed funds to enjoy a better lifestyle. However there are still Myths out there as to the safety of Reverse Mortgages. Click here to read 3 prominent Myths and then learn the truth about the safeguards of Reverse Mortgages. Then call me for a free consultation to determine if a reverse mortgage is optimal for you, your friends and family.

Bucking The Old Trend: Grandparents Purchasing A Larger Home To Accommodate Children And Grandchildren

Not since the 1950s have we seen a trend where multigenerational residences are becoming the fashion. Adult children and their offspring and pets are moving in with gramma and gramps in record numbers. More and more frequently, it is the grandparents who provide the financial resources to accomplish the task.  They often facilitate the renovation or move with a Reverse Mortgage where they do not have to make a monthly mortgage payment for as long as either lives in the home. So, an expanded home to meet the needs of the extended family with no monthly mortgage payment for as long as either grandparent lives in the home is possible – ask me how!

Oops, Are Your Retirement Resources A Bit Short?

Senior citizen finances is my wheelhouse.  
My entire career as a C.P.A., a Realtor and now as a Mortgage Loan Originator specializing in Reverse Mortgages has most frequently put me in front of the elderly.  These experiences have revealed two nagging questions that most every senior citizen has; when will I lose my driver’s license and will I outlive my financial resources before I pass away? I have zero expertise when it comes to the driver’s license question. I do have some serious thoughts about what to do if you think you are running out of money and you are no longer employed.  Call me for a free consultation to determine if a reverse mortgage may be optimal for you, your family or friends.

A Senior Decision – Rent or Buy?

Making financial decisions doesn’t get any easier as we age.  To rent or to buy is a difficult choice at any point along the chronological trail. For a senior citizen, this situation can be brutal. no more than 20% of Baby Boomers are financially ready for retirement.  Too many medical bills, lavish spending sprees, and so many other things got in the way. So, how can you, as a senior citizen, purchase a home with insufficient cash flow to qualify for a mortgage? I would not bring this situation up if I did not have a solution.  Call me for a free consultation to determine if a Reverse Mortgage may be optimal for you and/or your friends or family.

Reverse Mortgage: It Ain’t the Same as it Used to Be

Back in the ’60s, ’70s and early ’80s, while I was advising clients as a C.P.A., I always discouraged my clients from taking a Reverse Mortgage on their home.  R.M.’s were sort of a dirty word. But then the Reagan Administration passed legislation that made most Reverse Mortgages subject to FHA rules and protocols.  The oversight by the federal government ran off the bad guys and set some strict guidelines to protect one of the most vulnerable segments of our society, our seniors.  Consequently, a Reverse Mortgage may be just the ticket to solve the financial challenges of our senior citizens.
Call me for a free consultation to determine if a Reverse Mortgage may be optimal for you, your friends or family.

A Way to Save the Deal

The qualifications for a Reverse Mortgage are very different from a traditional forward loan. A Reverse Mortgage has 3 basic qualifications:
1) The client must be at least 62 yeas old.
2) The home must be the principal residence.
3) The homeowner must have at least 50% equity in the home.