About Lanny Clark
For most people, a home is usually considered their most valuable asset. With that in mind, it makes sense to shop around for a mortgage in order to get the most cost-effective rate possible. That’s why many borrowers turn to a mortgage brokerage for…
Reverse Morgages & Inflation
Inflation has increased the price of just about everything, including buying a new home. For senior homeowners living in a home that no longer fits their needs, this is a serious problem. They have the option of selling their home and receiving an…
The Effects of Inflation on Retirement
You’ve probably seen the headlines about inflation and how it is increasing the price we pay for everyday items like gasoline, food, and healthcare. But have you considered the impact inflation is having on your retirement savings? Social Security uses…
Financial Advisors and the Reverse Mortgage Line of Credit Option
As a financial advisor, you may be overlooking a significant planning tool… a reverse mortgage line of credit. The government regulated and insured FHA Home Equity Conversion Mortgage or HECM is designed to help seniors of every economic stratum. As…
Why Should I Consider a Reverse Mortgage?
You’ve worked hard and you think you’ve built up enough equity to enjoy a comfortable retirement. You’re a homeowner and you have Social Security payments to draw on, as well as an IRA or a 401K, so you’re feeling pretty comfortable about your finances.…
What are Proprietary or”Jumbo” Mortgages? How are They Used?
A proprietary reverse mortgage, often called a “Jumbo Reverse”, is a non-FHA reverse mortgage originated by a private lender, that often has more flexible guidelines and different features than an FHA insured reverse mortgage. Here are a few ways “Jumbo…
What are the Reverse Mortgage Safeguards?
Since Congress created the FHA Reverse Mortgage in 1989, many Reverse Mortgage safeguards have been put in place to protect Senior Homeowners. Counseling by an independent 3rd party is required and typically takes about an hour and is done over the…
Why Work With a CRMP?
Reverse mortgages are a versatile financial tool that have been used by over one million homeowners to enhance their financial security in retirement. When selecting a loan officer, you should consider working with a Certified Reverse Mortgage…
What are Some of the Unique Features of a Reverse Mortgage?
What are some of the unique features of a reverse mortgage? A reverse mortgage is a “non-recourse loan”, meaning that the borrowers have no personal liability for the loan, so responsibility for repayment is transferred from the borrower to the home.…
Baby Boomers and Managing Home Equity
More than 10,000 Baby Boomers are retiring every day. The problem is, unlike prior generations, most don’t have a defined benefit plan like a pension, so they depend on Social Security combined with an IRA or 401K. What they don’t realize is they have a…