1-866-840-0279The constant maturity treasury rate (CMT) is a measure of the yield rate on a treasury security if it were issued that day. Lenders use this rate to help determine the rate that is applied to an adjustable rate mortgage, which is a mortgage with an interest rate that...
Nicole Hendrickson
A Complete Guide to Home Equity Conversion Mortgage (HECM Mortgage)
As you enter retirement, you may find that a limited income and personal savings are not enough to cover all living expenses. Whether you’d like supplemental income to help pay for medical bills, home repairs, or a dream vacation, a home equity conversion mortgage...
What is Assistive Technology? 3 Advantages of Assistive Technology
As the years progress, many seniors find that performing the same activities they could once do with ease becomes increasingly difficult—whether that’s taking a long walk, listening to music, or reading the morning news. In fact, 40% of American seniors...
FHA Appraisal Checklist for Reverse Mortgages – GoodLife
If you feel like you could use additional cash-flow during retirement, a reverse mortgage might be able to help. Also known as a home equity conversion mortgage (HECM), this alternative form of financing is available to eligible homeowners over the age of 62 with...
The Advantages and Disadvantages of Multigenerational Households
In a multigenerational home, parents, grandparents, and children might all live together. While this was standard for most of history, the past century saw a dramatic increase in the number of nuclear family homes. Now, due to high housing costs among other factors,...
How to Create a Budget for Seniors on a Fixed Income in Retirement
As many working Americans approach the end of their career, they begin to worry over how to budget income for a long, full, and vibrant retirement. Living on a limited, fixed income can make it difficult for seniors to cover day-to-day costs and unexpected retirement...
Popular Posts
Reverse Amortizations: What you Need to Know
Amortization describes the process and rate that a loan can be paid off over time. When a borrower takes out a loan from a lending company — like a reverse mortgage lender — they are responsible for paying off both the principal value of the loan as well as the...
How Does a Reverse Mortgage Work for Seniors?
Reverse mortgages can be a helpful way to fund your retirement. For many seniors, finding a workable retirement income solution can be a challenge. Between the costs of living, the prices of maintaining a home, and medical bills, having a source of income that you can...
Are Reverse Mortgages Safe? Facts About Reverse Mortgage Programs
Reverse mortgages can be an effective way to fund your retirement, allowing you to tap into the home equity you’ve accrued over the years and use it as a new source of cash flow. However, many people wonder, are reverse mortgages safe? Is a reverse mortgage a good...