The 7 best reverse mortgages wade pfau 2022
Finding the best reverse mortgages wade pfau suitable for your needs isnt easy. With hundreds of choices can distract you. Knowing whats bad and whats good can be something of a minefield. In this article, weve done the hard work for you.
1. Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement
Description
Reverse mortgages have been surrounded by negativity. They were often mentioned alongside phrases like "last resort," "out of money," and "bad choice." In 2014, intrigued by the seemingly universal bad rap reverse mortgages had cultivated, Dr. Wade Pfau began researching them in depth. Over the course of the next year, he came to the conclusion that reverse mortgages aren't inherently a bad idea, though they are often misunderstood and not used in a most beneficial way. In fact, Dr. Pfau realized that reverse mortgages---when used correctly---can provide an added layer of security for retirees and allow them to enjoy retirement more by gaining liquidity from an illiquid asset. This second edition of the book is fully revised and updated for the modification of reverse mortgage rules affecting applications after October 2, 2017. The first edition of this book received 46 five-star, 2 four-star, and 1 three-star reviews on Amazon as of February 2018.2. Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement (The Retirement Researcher's Guide Series) (Volume 1)
Description
Reverse mortgages have been surrounded by negativity. They were often mentioned alongside phrases like "last resort," "out of money," and "bad choice." In 2014, intrigued by the seemingly universal bad rap reverse mortgages had cultivated, Dr. Wade Pfau began researching them in depth. Over the course of the next year, he came to the conclusion that reverse mortgages aren't inherently a bad idea, though they are often misunderstood and not used in a most beneficial way. In fact, Dr. Pfau realized that reverse mortgages---when used correctly---can provide an added layer of security for retirees and allow them to enjoy retirement more by gaining liquidity from an illiquid asset.3. Reverse Mortgage Survival Guide: Explaining the Most Misunderstood Financial Product in Plain English
Description
It's a jungle out there. TV commercials with celebrity spokesmen make reverse mortgages sound wonderful. On the other hand, there are rumors that it's a scam, too good to be true, the bank will own your home, etc. You just don't know who to believe. Finally, there's a book that cuts through both the positive hype and negative misconceptions. Most books about reverse mortgages are either: 1) Very outdated, with incorrect information 2) Filled with complicated math and graphs 3) Just sales pitches to promote reverse mortgages This "survival guide" has no calculations, detailed analysis, quotes from financial experts, or "happy senior" stories. Just a plain-English explanation about the pros, cons, scams, misconceptions, lenders, options, and major changes that FHA has recently made to the program, including the new 2017 rules. The goal of this book is to educate seniors, their families, and advisors, so that they can make informed decisions. And if they decide that a reverse mortgage is right for them, the information contained within should help them to minimize their costs and maximize their chances for loan approval and long-term success.4. The Complete Guide to Reverse Mortgages: Turn Your Home Equity Into Instant Income!
Description
Until recently, there were only two main ways you could get cash from your home: sell it or borrow against it and make monthly loan repayments. Reverse mortgages offer a third way of getting money from your home. If you are a homeowner, age 62 and older, you are eligible to apply for a reverse mortgage loan that converts your home equity into a tax-free income.With The Complete Guide to Reverse Mortgages, you'll learn all you need to know to earn the supplemental income you need, without worrying about:
- Having to sell your home
- Give up your title
- Or take on a new monthly mortgage payment.
This invaluable guide explains everything you need to know about reverse mortgages and how to use them to your advantage. With practicing attorneys Tyler Kraemer and Tammy Kraemer leading the way, you will learn the step-by-step process to getting a reverse mortgage and making the best of your retirement!
5. Understanding Reverse - 2018: Answers to Common Questions Simplifying the New Reverse Mortgage
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What is a Reverse Mortgage? Is it more than a loan program for those who are "house-rich, but cash poor"? How does the "non-recourse feature" protect homeowners and their heirs? Can the available line-of-credit and its growth rate be used for insurance and financial planning purposes? This book answers these questions and many more in a user-friendly way, and may be the most comprehensive educational tool available on the New Reverse Mortgage. It should be read by baby boomers, retirees, older adults with mortgages, heirs, financial planners, housing counselors, HECM counselors, Realtors, brokers, financial journalists, mortgage professionals, estate planners, and of course all homeowners who want greater assurance that they can comfortably grow older in their own homes.6. Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement
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In this unorthodox retirement book, Home Equity and Reverse Mortgages: The Cinderella of the Baby Boomer Retirement, Harlan J. Accola is frank about the current state of retirement planning. As baby boomers reach the prime of their lives, they find themselves faced with new challenges. Ten thousand baby boomers retire per day, but there simply is not enough money to go around. If you want to have a fun and prosperous retirement, you are going to have to get creative. This is not your fathers- or your grandfathers retirement! Creative doesnt mean foolish but it does mean different than what you have been thinking and what you have been told by conventional wisdom. This book is counterintuitive. The advice that Accola offers is guidance gleaned from over twenty years in the industry and collaboration with several financial planning experts and researchers referred to liberally throughout the book. The clear conclusion of the overwhelming evidence in the research shows that most people should get a reverse mortgage as soon as they are eligible at age 62 not 82 or 92 when they run out of money. Accola also understands the psychological barrier that arises when the reader hears the term "reverse mortgage. He asks, If what you thought you knew about home equity and reverse mortgages was wrong, when would you want to know? He warns that the longer it takes you or your family to find the truth, the more dangerous it is. He attests to the stability and efficiency of a reverse mortgage and teaches the reader how to safely and profitably use one of the largest assets you have stored in your net worth home equity. Accola covers the following in the entertaining Cinderella fairy tale format: The scary landscape ahead for millions of unsuspecting Baby Boomers The basics of creating liquidity from your home equity The psychology behind accepting or rejecting reverse mortgages The importance of planning ahead and buying an umbrella before it starts to rain. Real and immediate action steps that will help you get the most out of your retirement In this easy-to-understand and fun guide, Accola presents step by step how to properly use home equity so you can enjoy the fourth quarter of your life and still leave a planned legacy for the next generation.7. Reverse Mortgages For Dummies
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Used Book in Good ConditionDescription
For seniors who live on a fixed income, owning a homeand keeping itcan be financially challenging. Rather than face the choice of selling your home and moving or becoming a home-owning pauper, reverse mortgage products let seniors convert part of their equity into tax-free income that can be used for anythingeven mortgage payments, living expenses, or medical costs.Reverse Mortgages For Dummies covers all the basics of reverse mortgage products so you and your adult children can understand and take full advantage of these handy loansand keep the home you love. Covering a full range of reverse mortgage options and topics, youll discover how to:
- Decide if a reverse mortgage is right for you
- Shop for the best reverse mortgage products
- Find out if your home is eligible
- Find a counselor who can help you
Written by Sarah Lyons, an Assistant Editor at Mortgage Originator magazine, and John Lucas, an experienced reverse mortgage specialist, Reverse Mortgages For Dummies explains these helpful loan products in simple, easy-to-understand language free of all the jargon. Once you understand how reverse mortgages differ from other loansand what you could do with your reverse mortgagethe book covers the specifics you need to find the right loan for you, including:
- Special advice for adult children helping their senior parents secure a loan
- How to get a reverse mortgage and keep your second home legally
- Property requirements and financing fees
- Selecting among a multitude of lenders
- Spending and estimating leftover equity
- Sharing the decision-making process with family and loved ones
If youre a senior wondering whether a reverse mortgage can help you keep your home, this book gives you the information you need to make smart, informed decisions that are vital to you, and your familys, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.
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