It’s important to stay physically and mentally active as we age. Outdoor activities like hiking, walking, and gardening can provide great benefits, but not all seniors can do such activities. Fortunately, there are some great indoor activities for seniors that can also be beneficial. Virtual Tours & Performances You don’t need to get in a ... Read More >> The post 45 Fun Activities for Seniors to Stay Physically and Mentally Sharp appeared first on MyHECM.com ..read more

Rising interest rates have pummeled the reverse mortgage industry in 2023. According to the latest HUD HECM Snapshot, reverse mortgage endorsements are down significantly over the last year. Fortunately, it’s not all bad news. There are some intriguing bright spots in the data. It’s a good bet you’ve been hearing a lot about rising rates ... Read More >> The post INFOGRAPHIC: Rising Interest Rates Pummel the Reverse Mortgage Industry in 2023 appeared first on MyHECM.com ..read more

Imagine answering a knock at your front door and finding a man on your doorstep claiming to own your home. Somehow, your home’s title was transferred out of your name without your knowledge. The stranger demands that you pack up and leave his property immediately.  This is the nightmare scenario that came up in a ... Read More >> The post Is a Home Title Lock Necessary? No, But This Worries Me More appeared first on MyHECM.com ..read more

Are reverse mortgages bad? Many accountants, attorneys, and financial advisors think so. Are they correct? If so, why are reverse mortgages a bad idea? Let’s see if the assertion that reverse mortgages are “risky” actually holds water. I once chatted with a retiree we’ll call June who had a free and clear home, was living ... Read More >> The post Are Reverse Mortgages Bad? This Tax Professional Says “Yes” appeared first on MyHECM.com ..read more

A reverse mortgage is a great tool for converting home equity into cash in retirement, but it’s not always the right fit. Sometimes a reverse mortgage either doesn’t make sense or isn’t workable. If it doesn’t work for you, there may be alternatives to a reverse mortgage that can still help you achieve your financial ... Read More >> The post 7 Potential Alternatives to a Reverse Mortgage appeared first on MyHECM.com ..read more

ChatGPT has been in the news quite a bit recently, so I thought I would interview him (or her? or it?) on the topic of reverse mortgages. We had a fascinating discussion about reverse mortgages and a few less than hard-hitting topics I threw in for fun. The responses were less than accurate at times, ... Read More >> The post Mortgage Industry Veteran Talks Reverse Mortgages With . . . ChatGPT? appeared first on MyHECM.com ..read more

You wouldn’t even think of posting your Social Security number online, but it’s possible somebody else already has. Identity theft is no joke and most Americans are more vulnerable than they realize.  I was stunned when I learned that my personal information had been posted to the dark web. I’m always careful to protect my personal information, ... Read More >> The post If You Don’t Have This, You’re Ripe for the Picking By Identity Thieves appeared first on MyHECM.com ..read more

On Thursday, the Bureau of Labor Statistics released the latest consumer price index report for December, which showed an annualized inflation rate of 6.5%. This means that the federal government thinks prices have increased 6.5% since one year prior. Does anybody actually believe this? Not me!  In my experience, inflation is running much hotter than ... Read More >> The post Why I Don’t Believe Inflation is Just 6.5% Right Now appeared first on MyHECM.com ..read more

Happy New Year! Some changes are in store for the HECM and the reverse mortgage industry as the new year begins. First of all, the HECM is destined to get a shiny new FHA loan limit for 2023. We’re also likely to see more turmoil in the economy and real estate and mortgage markets as ... Read More >> The post HECM Changes: New FHA Loan Limit for 2023, More Economic Turmoil, and Other Changes appeared first on MyHECM.com ..read more

What happens to a reverse mortgage after death? Do the heirs get left with a big mess to clean up? Does the bank end up getting the house? Many homeowners are (rightfully) concerned about the legacy they’ll leave as a result of getting a reverse mortgage. Fortunately, the reverse mortgage is designed with both the ... Read More >> The post What Happens to a Reverse Mortgage After Death? Does the Bank Get the House In the End? appeared first on MyHECM.com ..read more