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The Reverse Mortgage Handbook
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Book Synopsis Reverse Mortgages by : Wade Donald Pfau
Download or read book Reverse Mortgages written by Wade Donald Pfau and published by McLean Asset Management Corporation. This book was released on 2018-02-06 with total page 156 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Understanding Reverse - 2021 by : Dan Hultquist
Download or read book Understanding Reverse - 2021 written by Dan Hultquist and published by . This book was released on 2020-12-06 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 is the most comprehensive educational tool available on reverse mortgages. It should be read by baby boomers, retirees, heirs, financial planners, housing counselors, HECM counselors, Realtors(R), 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.
Book Synopsis Home Equity and Reverse Mortgages by : Harlan J Accola
Download or read book Home Equity and Reverse Mortgages written by Harlan J Accola and published by . This book was released on 2018-01-05 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 father's-- or your grandfather's retirement! Creative doesn't 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.
Download or read book Home Run written by Steven Ranson and published by FriesenPress. This book was released on 2021-08-20 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this easy-to-understand book, HomeEquity Bank CEO Steven Ranson and Executive Vice President Yvonne Ziomecki discuss the ins and outs of reverse mortgages and how they can provide Canadians 55+ with a secure retirement.
Book Synopsis The Reverse Mortgage Handbook by : Tara E. Ballman
Download or read book The Reverse Mortgage Handbook written by Tara E. Ballman and published by Jawbone Publishing Corporation. This book was released on 2004 with total page 110 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Reverse Mortgage Handbook provides detailed information and examples to assist in a comprehensive understanding of three popular reverse mortgage products: HUD's Home Equity Conversion Mortgage, Fannie Mae's Home Keeper Mortgage, and Financial Freedom's Cash Account.The Reverse Mortgage Handbook includes terminology and the process related to reverse mortgages. This book focuses on: available products, eligibility requirements, fund disbursement options, consumer safeguards, and related costs.
Download or read book Housing Wealth written by Don Graves and published by Housing Wealth Institute. This book was released on 2018-02-27 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the current retirement income crisis facing baby boomers and existing retirees, today's asset mangers, insurance agents and hybrid advisors need every viable resource to help their clients and sustain their practice. In Housing Wealth, American College instructor and reverse mortgage expert, Don Graves, distills more than 20,000 advisor/client engagements over two decades into practical, back-of-the-napkin, common sense strategies. Through simple case studies and easily applied concepts, the advisor will learn how today's reverse mortgage can: Increase Clients' Cash Flow and Preserve Assets from Premature Erosion Reduce the Most Common Risks to Retirement Income Optimize Retirement Outcomes for the Mass Affluent Improve Liquidity and Add New Dollars to Retirement Savings Help Advisors Create More Planning Opportunities from Existing Clients and Gain Access to New Ones Manage Tax Brackets and Keep Clients within Lower Adjusted Gross Income Boundaries Housing Wealth serves as the companion guide for The Certified Housing Wealth Advisor (CHWA) Curriculum. Learn more at www.HousingWealthInstitute.com
Book Synopsis Reverse Mortgages For Dummies by : Sarah Glendon Lyons
Download or read book Reverse Mortgages For Dummies written by Sarah Glendon Lyons and published by John Wiley & Sons. This book was released on 2011-01-11 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: For seniors who live on a fixed income, owning a home—and keeping it—can 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 anything—even 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 loans—and keep the home you love. Covering a full range of reverse mortgage options and topics, you’ll 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 loans—and what you could do with your reverse mortgage—the 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 you’re 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 family’s, security. Reverse Mortgages For Dummies will help you keep your home and live the life you want.
Book Synopsis Administration of Insured Home Mortgages by : United States. Department of Housing and Urban Development
Download or read book Administration of Insured Home Mortgages written by United States. Department of Housing and Urban Development and published by . This book was released on 1994 with total page 792 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Home Equity Conversion Mortgages by : United States. Department of Housing and Urban Development
Download or read book Home Equity Conversion Mortgages written by United States. Department of Housing and Urban Development and published by . This book was released on 1994 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Retirement Planning Guidebook by : Wade Pfau
Download or read book Retirement Planning Guidebook written by Wade Pfau and published by . This book was released on 2023-03-20 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Encyclopedia of Finance by : Cheng-Few Lee
Download or read book Encyclopedia of Finance written by Cheng-Few Lee and published by Springer Science & Business Media. This book was released on 2006-07-27 with total page 861 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a major new reference work covering all aspects of finance. Coverage includes finance (financial management, security analysis, portfolio management, financial markets and instruments, insurance, real estate, options and futures, international finance) and statistical applications in finance (applications in portfolio analysis, option pricing models and financial research). The project is designed to attract both an academic and professional market. It also has an international approach to ensure its maximum appeal. The Editors' wish is that the readers will find the encyclopedia to be an invaluable resource.
Book Synopsis Understanding Reverse - 2020 by : Dan Hultquist
Download or read book Understanding Reverse - 2020 written by Dan Hultquist and published by . This book was released on 2019-12-16 with total page 134 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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 is the most comprehensive educational tool available on reverse mortgages. It should be read by baby boomers, retirees, heirs, financial planners, housing counselors, HECM counselors, Realtors(R), 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.
Book Synopsis Safety-First Retirement Planning by : Wade Donald Pfau
Download or read book Safety-First Retirement Planning written by Wade Donald Pfau and published by Retirement Researcher Guid. This book was released on 2019-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: Two fundamentally different philosophies for retirement income planning, which I call probability-based and safety-first, diverge on the critical issue of where a retirement plan is best served: in the risk/reward trade-offs of a diversified and aggressive investment portfolio that relies primarily on the stock market, or in the contractual protections of insurance products that integrate the power of risk pooling and actuarial science alongside investments. The probability-based approach is generally better understood by the public. It advocates using an aggressive investment portfolio with a large allocation to stocks to meet retirement goals. My earlier book How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Strategies provides an extensive investigation of probability-based approaches. But this investments-only attitude is not the optimal way to build a retirement income plan. There are pitfalls in retirement that we are less familiar with during the accumulation years. The nature of risk changes. Longevity risk is the possibility of living longer than planned, which could mean not having resources to maintain the retiree's standard of living. And once retirement distributions begin, market downturns in the early years can disproportionately harm retirement sustainability. This is sequence-of-returns risk, and it acts to amplify the impacts of market volatility in retirement. Traditional wealth management is not equipped to handle these new risks in a fulfilling way. More assets are required to cover spending goals over a possibly costly retirement triggered by a long life and poor market returns. And yet, there is no assurance that assets will be sufficient. For retirees who are worried about outliving their wealth, probability-based strategies can become excessively conservative and stressful. This book focuses on the other option: safety-first retirement planning. Safety-first advocates support a more bifurcated approach to building retirement income plans that integrates insurance with investments, providing lifetime income protections to cover spending. With risk pooling through insurance, retirees effectively pay an insurance premium that will provide a benefit to support spending in otherwise costly retirements that could deplete an unprotected investment portfolio. Insurance companies can pool sequence and longevity risks across a large base of retirees, much like a traditional defined-benefit company pension plan or Social Security, allowing for retirement spending that is more closely aligned with averages. When bonds are replaced with insurance-based risk pooling assets, retirees can improve the odds of meeting their spending goals while also supporting more legacy at the end of life, especially in the event of a longer-than-average retirement. We walk through this thought process and logic in steps, investigating three basic ways to fund a retirement spending goal: with bonds, with a diversified investment portfolio, and with risk pooling through annuities and life insurance. We consider the potential role for different types of annuities including simple income annuities, variable annuities, and fixed index annuities. I explain how different annuities work and how readers can evaluate them. We also examine the potential for whole life insurance to contribute to a retirement income plan. When we properly consider the range of risks introduced after retirement, I conclude that the integrated strategies preferred by safety-first advocates support more efficient retirement outcomes. Safety-first retirement planning helps to meet financial goals with less worry. This book explains how to evaluate different insurance options and implement these solutions into an integrated retirement plan.
Book Synopsis FHA Single Family Housing Policy Handbook by : Brian Greul
Download or read book FHA Single Family Housing Policy Handbook written by Brian Greul and published by . This book was released on 2021-06-18 with total page 1036 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Doing Business with FHA section in this FHA Single Family Housing Policy Handbook (SF Handbook) covers Federal Housing Administration (FHA) approval and eligibility requirements for both Title I lenders and Title II Mortgagees, as well as other FHA program participants. The term "Mortgagee" is used throughout for all types of FHA approval (both Title II Mortgagees and Title I lenders) and the term "Mortgage" is used for all products (both Title II Mortgages and Title I loans), unless otherwise specified.
Book Synopsis How to Make Your Money Last - Completely Updated for Planning Today by : Jane Bryant Quinn
Download or read book How to Make Your Money Last - Completely Updated for Planning Today written by Jane Bryant Quinn and published by Simon & Schuster. This book was released on 2020-01-07 with total page 432 pages. Available in PDF, EPUB and Kindle. Book excerpt: NOW COMPLETELY UPDATED to reflect the changes in tax legislation, health insurance, and the new investment realities. In this “highly valuable resource” (Publishers Weekly, starred review) Quinn “provides simple, straightforward” (The New York Times) solutions to the universal retirement dilemma—how to make your limited savings last for life—covering mortgages, social security, income investing, annuities, and more! Will you run out of money in your older age? That’s the biggest worry for people newly retired or planning to retire. Fortunately, you don’t have to plan in the dark. Jane Bryant Quinn tells you how to squeeze a higher income from all your assets—including your social security account (get every dollar you’re entitled to), a pension (discover whether a lump sum or a lifetime monthly income will pay you more), your home equity (sell, rent, or take a reverse mortgage?), savings (how to use them safely to raise your monthly income), retirement accounts (invest the money for growth in ways that let you sleep at night), and—critically—how much of your savings you can afford to spend every year without running out. There are easy ways to figure all this out. Who knew? Quinn also shows you how to evaluate your real risks. If you stick with super-safe investment choices, your money might not last and your lifestyle might erode. The same might be true if you rely on traditional income investments. Quinn rethinks the meaning of “income investing,” by combining reliable cash flow during the early years of your retirement with low-risk growth investments, to provide extra money for your later years. Odds are, you’ll live longer than you might imagine, meaning that your savings will stretch for many more years than you might have planned for. With the help of this book, you can turn those retirement funds into a “homemade” paycheck that will last for life.
Book Synopsis How Much Can I Spend in Retirement? by : Wade Pfau
Download or read book How Much Can I Spend in Retirement? written by Wade Pfau and published by . This book was released on 2017-10 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: How much can you spend in retirement? Naturally, this is an essential question for those approaching this important life transition. Essentially, if you wish to retire one day, you are increasingly responsible for figuring out how to save during your working years and convert your savings into sustainable income for an ever-lengthening number of retirement years. The nature of risk also changes in retirement, as the lifestyle of retirees become more vulnerable to the impacts of market volatility, unknown longevity, and spending shocks. Retirees have one opportunity to build a successful plan. It is not an easy task, but it is manageable. This book focuses on sustainable spending from investments, which is an important piece of any retirement plan. People want to know if they have saved enough to be able to fund their lifestyle in retirement. In this book, I explain the findings of a large body of financial planning research regarding sustainable spending from investment portfolios in the face of a variety of retirement risks. That body of research tends to begin with the 4 percent rule of thumb for retirement spending. I explain how and why it was developed, what it means, and when it may or may not be appropriate for retirees. William Bengen''s 1994 study gave us the concept of the SAFEMAX, which is the highest sustainable spending rate from the worst-case scenario observed in the US historical data. The Trinity study added portfolio success rates from the historical data for different spending strategies. Both studies suggest that for a thirty-year retirement period, a 4 percent inflation-adjusted withdrawal rate using a 50-75 percent stock allocation should be reasonably safe. I have reservations about the 4 percent rule. It may be too aggressive for current retirees for reasons including increasing longevity, historically low interest rates coupled with higher than average stock market valuations, the impact of the international experience with the 4 percent rule casting a different light than 20th century US historical data, the need to maintain a rather aggressive asset allocation to have the best shot at success, and because the 4 percent rule assumes that investors do not pay any fees or otherwise underperform the underlying market indices. However, other factors suggest that sustainable spending may be even higher than traditional studies imply. Reasons for this include that actual retirees may tend to reduce their spending with age, that they build more diversified portfolios than used in the basic research studies, that real-world retirees may be willing to adjust spending for realized portfolio performance, and that some retirees may have the capacity and tolerance to accept higher portfolio failure probabilities because they have other sources of income from outside their portfolios. Related to these points, I also analyze nine variable spending strategies for retirees as well as the use of strategies that support short-term spending needs with individual bonds and longer-term spending needs with stocks. Retirees need to weigh the consequences between spending too little and spending too much-that is, being too frugal or running out of assets. This book is about implementing what I call the "probability-based" school of thought for retirement planning. It is especially relevant for people who plan to fund their retirements using an investment portfolio and those who are hesitant about using income annuities or other insurance products. I will explore annuities and insurance more extensively in later volumes since I do believe in the value of risk pooling as an additional source of returns to more efficiently meet retirement spending goals. But for now, we have plenty to discuss within the world of sustainable spending from an investment portfolio in retirement. The book concludes with a discussion about how to put these ideas together into a retirement spending plan.
Book Synopsis Your Home Loan Toolkit by : Consumer Financial Consumer Financial Protection Bureau
Download or read book Your Home Loan Toolkit written by Consumer Financial Consumer Financial Protection Bureau and published by Createspace Independent Publishing Platform. This book was released on 2016-03-22 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: Buying a home is exciting and, let's face it, complicated. This booklet is a toolkit that can help you make better choices along your path to owning a home.
