<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=319290&amp;fmt=gif">
home2

NAIFA's Limited & Extended Care Planning Center

The LECP Center empowers professionals to network with solution and service providers to share best practices, directly access subject matter experts, research, training and resources; and provide thought leadership so we may continue to address the changing needs of the market.

8 min read

Advantages of Reverse Mortgage Loans over HELOC and Home Equity Loans

By Fairway Independent Mortgage Corp. on 3/17/22 11:39 AM

For your clients who are homeowners aged 62+, a Home Equity Conversion Mortgage (HECM, commonly called a reverse mortgage) loan offers some distinct advantages over other types of home-equity-release loans.

According to a survey conducted by Clever,* about half (51 percent) of retirees believe they will outlive their savings. Perhaps even more worrisome, the study also found that 65 percent of retirees say they are not financially secure. They may be facing any number of financial challenges, including how to best pay for long-term care or combat recent jumps in the prices of food, gas, and just about everything else.

As a financial professional, you want to give your clients the best chance at financial success. For most homeowners aged 62 and older, home equity represents the largest portion of their overall net wealth, usually dwarfing their other assets (e.g., retirement savings). While home equity is good, unless the home is sold or the equity is tapped, it is of essentially no functional value to a homeowner in retirement because it is generally very illiquid.

Topics: Financial Planning Reverse Mortgages Grow Your Business Financial Literacy Potential Partners for Advisors
8 min read

Inflation Presents Unique Challenges for Retirees

By Fairway Independent Mortgage Corp. on 3/1/22 11:34 AM

Home Wealth Can Help Your Older-Adult Clients to Fight Inflation.  

These days, inflation is on the minds of most people — and it is of particular concern for seniors. With prices rising at the fastest pace in decades, many people who are in or nearing retirement have heightened fears they may outlive their savings.

The stage is set for home wealth, which has also been on the rise, to play an important role in helping retiree homeowners to support a more efficient retirement income strategy. As a financial professional, you want to give your clients the best chance at financial success, which is why it is imperative that the strategic use of home equity is part of any retirement-planning conversation.

Topics: Retirement Planning Retirement Reverse Mortgages Retirement Plans Seniors
8 min read

Home Equity Conversion Mortgage (HECM) Loan: What You Need to Know

By Fairway Independent Mortgage Corp. on 2/16/22 12:51 PM

While there are several different types of reverse mortgages, most reverse mortgage loans today are HECMs—the only reverse mortgages insured by the Federal Housing Administration (FHA). 

Many financial professionals now consider today’s HECMs to be an important and effective tool (when used within a comprehensive financial plan) to help improve retirement outcomes for their older-adult homeowner clients.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Reverse Mortgages Financial Literacy Potential Partners for Advisors
1 min read

Fairway Presents Webinar on Home Equity and Roth Conversions

By NAIFA on 1/7/22 4:55 PM

Join us on February 11, 2022, at 3 pm eastern for the special webinar "Home Equity and Roth Conversions".

The discussion will feature Harlan Accola, CRMP, National Reverse Mortgage Director of Fairway Independent Mortgage Corporation, interviewing Jim Silbernagel, CFP, CEPS, LACP, LUTCF creator and host of Real Wealth® Marketing, on how he has helped clients lower their tax burden using the equity in their homes. 

Register for the Webinar

Topics: Reverse Mortgages webinar Potential Partners for Advisors
5 min read

The Impact of Voluntary Interest Payments on Reverse Mortgages

By Shelley Giordano on 4/12/21 8:30 PM

In the early days of reverse mortgage lending, little attention was paid to the impact of tax deductions from accrued interest on the loan. In part, most borrowers had so little income that any deduction was meaningless. Two important changes in the reverse mortgage landscape, however, have generated a more strategic approach to the home asset.

Topics: Reverse Mortgages Limited & Extended Care Planning Center
4 min read

Who Created Reverse Mortgages And How Have They Changed?

By RFS Lending on 9/6/19 9:41 AM

Topics: Reverse Mortgages

Interview: Shelley Giordano- RFS Lending, a Mutual of Omaha Bank company

By RFS Lending on 7/30/19 4:23 PM

Shelley Giordano, author of  "What’s the Deal with Reverse Mortgages”, now in it’s 2nd edition, discusses the “home” as an important asset, too often overlooked in terms of planning for Extended care needs, Long Term Care, and Retirement Planning.

Topics: Financial Planning Lifestyle Planning Reverse Mortgages

Reverse Mortgages - No Longer Taboo

By Retirement Funding Solutions on 6/4/19 9:00 AM

Join Shelley Giordano & Chris Bruser to Learn Why Reverse Mortgages are Hot Again

 

Shelley Giordano and Chris Bruser answer all your fears and misconceptions on how the modern reverse mortgage works. 

Topics: Long Term Care Financial Planning Extended Care Caregiver Resources Funding Reverse Mortgages

Why the New Reverse Mortgage is Safer than Ever

By Retirement Funding Solutions on 3/18/19 3:45 PM

 

Topics: Long Term Care Funding Reverse Mortgages

Featured