Mortgage Tips and Advice
30-year mortgage rates keep falling, move below 7.5%
The average rate on 30-year fixed mortgages retreated to 7.41% this week, down from 7.55% the previous week, according to Bankrate’s weekly national survey of large lenders.
Retire Right: 3 reasons to include family and heirs in your planning
Here are 3 top reasons to include your family and/or heirs in your reverse mortgage conversations:
The Swiss Army Knife of Mortgage
What I love about the Home Equity Conversion Mortgage (HECM) is that the ways to utilize the program are endless and it can be used by virtually anyone age 62 and over with a significant amount of equity in their home.
Retire Right: What keeps you awake at night?
For many people, retirement represents an exciting new stage of life. However, there are downsides to aging and to retirement, most of which are new financial concerns. Let me give you a few of the top financial concerns of Americans today.
Retire Right: Advantages of making payments on a home equity conversion mortgage
You might ask yourself, why would I want to make mortgage payments if I’m not required to make mortgage payments? Well, there are a few advantages of making payments with a reverse mortgage that you don’t necessarily get with a traditional mortgage. So let me explain.
Retire Right: The growing line of credit of a Home Equity Conversion Mortgage
One of the most amazing and strategic features of the Home Equity Conversion Mortgage (HECM) is the growing Line of Credit (LOC).
Retire Right: Why reverse mortgages had a bad reputation
Over the last 35 years, there have been dozens of changes and improvements to make reverse mortgages better and safer than they had been historically.
To wait or not to wait, that is the question
As Americans, we are typically very reactive versus proactive. I am here to tell you that nothing gets better with time except fine wine and cheese (at least that is what I am told). Let’s take a few examples that many of us can relate to in our everyday lives. Let’s...
What does your retirement picture look like? Picture your grandparents’ retirement
What did life look like back then? How much did a gallon of gas cost? How much did a dozen eggs cost? How much did a bottle of soda cost? How much did homes cost? Now visualize your retirement. Does it look the same? What’s different?
Retire Right: Is the Goal to Pay Off Your Mortgage?
Many of us have deeply rooted beliefs, which date back to the Great Depression, that we must pay off our mortgage. Does this belief still hold true today? Is paying off your mortgage the best investment strategy given all the new products and solutions available?
Retire Right: Most Common Uses for a Reverse Mortgage
In general, I believe there are three primary categories of the ways that homeowners use a reverse mortgage: needs based, lifestyle based and planning based.
Three Little Numbers: A History of Credit in America
America’s love-hate relationship with credit is no new phenomenon. In fact, it began before the turn of the 20th century.
Retire Right: Why Reverse Mortgages Can Be Confusing
I have had clients in the past tell me that reverse mortgages are confusing, and I do not disagree, they certainly can be confusing.
US mortgage rates retreat to 6.23%, lowest in four months
U.S. mortgage rates fell to a four-month low last week, supporting more home purchases and refinancing.
Retire Right: Would you rather be house rich or cash rich?
When you retire, would you rather have $500K of home equity and no cash in the bank? Or would you rather have $500K of cash in the bank and no home equity?
What options do the heirs have when it comes to reverse mortgages
One of the largest misconceptions with reverse mortgages is that the homeowner loses ownership of the home, and they cannot pass the home onto their heirs. That is simply not true, you still retain ownership, and you can absolutely still pass the home to your heirs in the future.
Are reverse mortgages expensive?
People ask me the question, are reverse mortgages expensive? I typically reply by asking the question, “compared to what”?
How does a HECM or Reverse Mortgage actually work?
In one sentence, a HECM/Reverse Mortgage is a home equity loan that does not require traditional monthly payments.
Home for the holidays – gift giving to first-time home buyers – Part 2
An exceptional gift idea is helping your relative or loved one with an interest rate or mortgage buydown
Mortgage rates fell in November, stimulating mortgage applications
Mortgage rates more than doubled in 2022, but good news made an appearance in November, a positive sign for those buying or refinancing a home.
What is a HECM Reverse Mortgage loan?
Have you heard of a HECM loan? If not, let me share with you what it is and clarify if it is something you should consider.
Gabe Bodner of The Bodner Team makes move to OneTrust Home Loans with The Rueth Team
The Bodner Team, in partnership with The Rueth Team, has announced its move to OneTrust Home Loans.
Silver lining of the feds raising interest rates
The Federal Reserve is raising interest rates yet again. Is there any silver lining to this increase? There’s one: savings accounts.
Housing market trends: Signs nationwide show upside for buyers
The housing market continues to be challenging for home buyers and sellers alike, especially in Boulder County where price increase and low inventory exceed national averages. Experts suggest patience and a knowledgeable Realtor help navigate these unprecedented market challenges.
Colorado homeowners offered largest home equity loans nationwide
Colorado homeowners receive an average home equity loan offer of nearly $130,000, which is the largest home equity loan offer in the U.S., according to analysis by LendingTree, an online loan marketplace.
Do falling home prices offset higher interest rates?
Now that interest rates have risen from the 3.5% range to the 7% range, will home prices decline to balance out the purchasing power?
Recession vs. pricing correction
How can you tell if we are entering a recession or a simple market correction? Here’s what you need to know.
Is Buying a New Home Now Financially Savvy?
Given today’s market, is it better to wait to buy that new house, sidelining the lifestyle you crave, or is it financially wiser to take advantage of the equity you have now?
Are there alternatives to foreclosure?
At the first sign of not being able to make the monthly mortgage payment, the homeowner should start out with contacting a real estate attorney, a Realtor®, and their mortgage lender to review all the options
What is a 2-1 buydown and how can it benefit you?
At its core, a 2-1 buydown is a type of mortgage agreement between a home buyer and their lender. If it’s right for you, it could open up options and get you into your dream home.
