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June 11th, 2007

You are currently browsing the articles from Reverse Mortgage and Loan News written on June 11th, 2007.

Going from work to retirement, gradually

Whenever I consider retirement from a good career, unless I put on my thinking cap I always thought about it as leaving the workforce cold turkey and riding off into the sun set.  If not cold turkey, then going from working a 9-5 in April with a paycheck to living in a beach front condo in May with a full pension.  But for most Americans, myself included thats not retirement, thats what we call winning the lotto.  The San Diego Tribune gives a great picture of what a normal near term retiree will look like.  While the article is long anyone considering retirement and using their home equity as a part of the strategy, should read closely here.  

Bonnie Daly has a pretty long list of “to-do’s.”

First, she’d like to work as a docent for a local art museum. Then, it’s off to get some training to further her nursing skills. Later, she’d like to do some pro bono therapy work and maybe even join the Peace Corps at some point.


When exactly the 71-year-old San Diego resident will be able to get started on all this is a big question. Full Story here.  

Written by charles dennis on June 11th, 2007 with no comments.
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General Advice Regarding Reverse Mortgages

 reverse mortgage advice

It is a difficult task to find advice regarding mortgages that is not promotional or contrarian that also makes sense.  The following piece is one you should consider with your reverse mortgage information gathering process.

DEAR BRUCE: I wish you would give us a general talk about reverse mortgages. I am not sure I trust the advice I receive from someone who is selling them. Are there special criteria that set candidates apart? — M.T, via e-mail

DEAR M.T.: A reverse mortgage is a useful tool for some people. In essence, it is simply borrowing against the equity you have built up in your home and receiving payments on a monthly or quarterly basis… Read More by Bruce Williams

Written by charles dennis on June 11th, 2007 with no comments.
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