What You Need to Know about Long Term Care

  About 70 percent of people over age 65 require long-term care services to some extent, and the likelihood of needing care increases even more as you age. Yet the cost of long-term care often exceeds what the average person can pay from their income and other government programs. It is more important than ever… [Read More]

Mortgage Broker Benefits

YOUR PERSONAL LOAN SHOPPER   Not all lending institutions have the same rules! When you apply directly to a bank, mortgage company, credit union or a savings and loan YOU must comply that the specific criteria of that institution. YOU must fit into THEIR box.  If, after paying for a credit report and appraisal, your… [Read More]

How Do Trusts Apply To Reverse Mortgages

1. Who is allowed to be the immediate beneficiary of the trust?   The borrower(s) and only the borrower(s) can be the immediate beneficiary of the trust.     2. Who can act as trustee of the trust?   Anyone over the age of 18 can act as a trustee of the trust.    … [Read More]

Common Power of Attorney Questions

1. Can a Reverse Mortgage be obtained using a Power of Attorney?   Yes, a POA is acceptable if it is durable or springing. Durable = continues to be effective upon their incapacity. Springing = only effective upon their incapacity.      2. When is the original POA required?   Original POA is required if… [Read More]

Frequently Asked Questions For Children And Heirs

1. Will Mom and Dad use up my inheritance? While tapping into their equity, your parents home may be appreciating in value, which could allow for some equity left at the end of the loan. They are also able to live comfortably without having to depend upon family members to support them 2. Will the… [Read More]