You’ve heard about how reverse mortgages are used by over one million homeowners to enhance their financial security in retirement. But a reverse mortgage isn’t for everyone, so how do you know if a reverse mortgage is right for you?
You’re retired – or soon will be – and you’re in the process of planning for the days after you stop working.
Unlike previous generations, today’s baby boomers face some unique challenges to funding – and maintaining – their current lifestyle in retirement.
With financial scams targeting seniors occurring with such frequency, it’s fair for senior homeowners to ask, “Is a reverse mortgage safe?”
Having enough cash to last to – and through – retirement is one of the major challenges facing today’s seniors.
One of the most frequently asked questions about reverse mortgages is, “How does it differ from a traditional mortgage?”
In this article, I’ve condensed 95% of the reasons reverse mortgages get a bad rap into four categories. These are short summaries, but I get into a bit more detail in the video. Please take a few minutes to read this article and the watch the video below and let me know if you have any questions.
What is the yield curve? What does it mean when it’s inverted? And what the heck does any of this have to do with reverse mortgages?
Back on April 5, 2022, The New York Times published an article highlighting how the Home Equity Conversion Mortgage (HECM) can be used when creating a comprehensive financial plan for retirement.
When homeowners consider tapping the equity in their home, they typically think about refinancing their current mortgage in a cash out refinance, or a traditional home equity line of credit, (HELOC). However, if one of the homeowners is 62 or older, there is a third option that needs to be considered – the FHA insured Home Equity Conversion Mortgage (HECM).
If you are thinking about buying, selling, or downsizing in the Denver Metro area, you may have noticed that the market feels different than it
If you’re retired and own your home, you’ve probably heard mixed opinions about reverse mortgages. Maybe you’ve felt uneasy because of stories that paint them
Overall Rating
Bruce is so knowledgeable with the reverse mortgages and such a pleasure to work with. He is on top of it all of the time and so responsive. I would definitely recommend Bruce to help you if you're looking for a Reverse Mortgage specialist, He's the Best!
We were a little skeptical to begin with but Bruce was so up close and personal and honest about everything. The whole procedure went just the way he said it would.
My wife and I are retired and had a mortgage that was quite high. We contacted Bruce regarding a Reverse Mortgage and were pleased with his knowledge and experience. He made the whole process very easy and explained everything along the way. Since then, I have had a couple of questions and contacted him regarding the RM. Bruce has always been very responsive and returned our calls within minutes. We couldn't be happier having used Bruce for the Reverse Mortgage and highly recommend him.
Bruce has been serving my interest over and above what one might expect during the whole process of handling my reverse mortgage dating back to 2010 and continues to be available at present whenever a question may arise. He is one of the most reliable, trustworthy and knowledgeable experts regarding reverse mortgages that I have had the privilege to do business with! I would highly recommend Bruce to anyone who is considering a reverse mortgage. Thank you Bruce!
I met Bruce from a referral who just love what he did for them on their Reverse Mortgage, So I contacted Bruce and told him my story and he came up with a great Reverse Mortgage for me and my needs and now I am living good and not worrying about Finances anymore. He had it done in a timely manner. If you are looking for the MAN to help you get the best Reverse Mortgage you need to call him and hope you let him help you.
Bruce is one of the most professional, knowledgeable and efficient experts I have worked ŵith ever in any field. He is fast to answer and always ready to help...and he's a great guy!
Bruce did our original reverse mortgage and has also refinanced it twice. He works hard to get the best deal possible while making it as easy for us as possible. When our first refinance received a low initial appraisal, Bruce helped the appraiser find better information and increase the appraised value. He's the best.
I was hesitate about getting a reverse mortgage until Bruce Simons put my mind at rest. He is easy to work with, extremely knowledgeable and efficient. Things get done and he will make sure that you understand every part of the process. I interviewed several other people and he was hands down.....The only choice.
Doing a Reverse Mortgage is a major decision, when working with Bruce he came out personally to go over every thing in detail, there was no pressure to finalize the transaction, I had even put the loan on hold for awhile even though I had locked in my rate, I had called Bruce off and on for a few weeks to ask questions that I had concerns about and he was always available to talk to me. In the end it gave me time to feel comfortable about my decision to move forward with the Reverse. Bruce was very pleasant to work with and would certainly recommend Bruce if you are going to consider a Reverse Mortgage.
Bruce Simmons at American Liberty is one of the best in the reverse mortgage industry. I have known and worked with him for years and he always does a great job. You are in good hands with Bruce and know that he will take good care of you or your loved ones every step of the way.
Best thing I ever did! Bruce Simmons at American Liberty Mortgage is the best. He is always there to answer your questions, and can easily explain the whole idea of a Reverse Mortgage. He takes the time and goes through the entire process with you. It worked out so well for me. Thank You Bruce!
We had researched Reverse Mortgages for 5 years and after hearing about Bruce Simmons and meeting with him, we finally decided to move forward with the Reverse Morgage. It has been over a year now and we are still very pleased with our decision. We think Bruce is very professional, knowledgeable and honest. Thank you, Bruce, for all your help.
I first met Bruce Simmons 2017. I found him on the internet. I was looking for someone local. I called him and explained I was only looking into doing a reverse mortgage, so I did not want him to think this was something I was ready to do. Bruce was friendly, very open about the basics of a reverse mortgage. Bruce came to my home and presented the figures and other details that he could offer. The first thing that impressed me was this was not a hard sell, more of a informational meeting. He was very open about all of the details, and answered my questions without hesitation. What really was evident was he was establishing a relationship with me, and I realized he knew I would not take the loan at that time. There was not enough equity in my home, and I would have to bring money to the table. Although I was not ready to do a loan, Bruce assured me he is always available for questions. Four years later, I finally did do a reverse mortgage, and I couldn't be happier with having done it. I have done away with a mortgage payment which allows me to fund my retirement account with that mortgage payment. We did some much needed landscaping with our cash out transaction, and will move on to improvements inside of the house. My reverse mortgage has a line of credit, and I feel sense security knowing it is there if I need it. Bruce explained that a reverse mortgage is not for everyone, but I feel certain that he paved the way for a strategy that worked for me. I will definitely do a refinance when the time is right. I will check in with Bruce to be sure what the benefits are when I do it again.
I have worked with Bruce Simmons for 15 years. Bruce is one of the best in the industry. He is extremely knowledgeable, kinds and detailed in what he does. His clients love working with him and trust him to help them with their Reverse Mortgage loans. I would recommend Bruce to anyone I know that is thinking about or wanting to do a Reverse Mortgage. He will always take very good care of the customers and make sure their needs are met! Class act and one of the best in the industry by far!
Unlock the secrets to a more secure retirement with our exclusive Consumer Guide! Discover if a reverse mortgage is your golden ticket to financial freedom and comfort in your later years.
