Alison Calamia -Certified Reverse Mortgage Professional NMLS# 80878

Projected Social Security 2025 COLA Could Be Lowest in Four Years

According to the non-profit Senior Citizens League, the latest estimates put the Cost-of-Living Adjustment at 2.6 percent for next year, down from 2.7 percent in July and 3.2 percent in 2023. The drop reflects the easing of inflationary pressures.

Why it matters: Good inflation news is not always good news for the COLA.

The easing inflation rate means retirees will get a smaller increase.
While a lower inflation rate should lead to a smaller increase in prices, it does nothing to lower current prices for groceries, utilities or housing that many are struggling to meet.

What’s next: Ultimately, we will have to wait until October to find out what the final COLA for 2025 will be.

Westbank Real Estate Investors call me if you’re looking for a Reverse Mortgage

There are several tools, including reverse mortgages, that can help to mitigate the risks that come with retirement.

Learning more about reverse mortgages, how they can prove beneficial, and what they can be used for, can help give you peace of mind.

Here are how reverse mortgages can help with retirement: https://amr-no.com/reverse-mortgages-and-the-challenges-of-retirement/

Thank you Crescent Title for this post. Using home equity in retirement can be a game changer for living comfortably in your golden years. A reverse mortgage is a great way to tap it. And without a principal & interest mortgage payment. 62 yrs young or older? Check your equity position below, is it 50% or more? A reverse mortgage might be the perfect fit. Call me for more information.

Did you know? Many homeowners have more equity in their homes than they realize! 🏡💰 This hidden wealth can be a game-changer for renovations, investments, or even buying your next home. Check your home value today and unlock your potential!

Debunking 6 Social Security myths Get the facts on how the Social Security program works for retirees.

I’m thrilled to help Donna purchase her new home. Welcome back to New Orleans! Thank you Jill Wren @ ReMax for trusting me with your buyer.

The BOSS man

Meet the driving force behind America's Mortgage Resource - Andrew Remson.

With over 25 years of experience in financial sales and a deep understanding of the local market, he simplifies the buying process while providing personalized service. 💼

👉️Learn more - https://amr-no.com/andrew-remson/

USING A REVERSE MORTGAGE FOR LONG-TERM CARE

When helping your clients make financial decisions for their future, it is essential to explore all options. Using home equity to increase cash flow in retirement is a popular option that allows seniors to stay in their homes without making monthly mortgage payments.

Whether your clients need to pay off existing home equity loans, eliminate credit card debt, or need to cover daily living expenses, a reverse mortgage may be a reliable retirement financing solution. Many retirees use the proceeds from a reverse to pay for in-home care. Regardless of the reason, a reverse mortgage, or Home Equity Conversion Mortgage (HECM), is a big decision for your clients, their families, and their caregivers.

Financial experts are starting to incorporate reverse mortgages into retirement plans. Two reputable organizations dedicated to seniors also promote the reverse for paying for home-based long-term care. The National Council on Aging (NCOA) released a study that shows that reverse mortgages could be used by over 13 million Americans to pay for long-term care expenses at home, allowing them to remain independent at home longer. The Centers for Medicare and Medicaid Services (CMS) and the Robert Wood Johnson Foundation also show how a reverse can alleviate financial pressure in a report they funded, “Use Your Home to Stay at Home: Expanding the use of Reverse Mortgages to Pay for Long Term Care.” However, reverse mortgages are not for everyone.


Reverse mortgage pros

The US Department of Housing and Urban Development (HUD) and the Federal Housing Administration (FHA) back reverse mortgages. People age 62 and older are eligible to use this federal program to get a “non-recourse loan,” meaning that your client’s heirs are not responsible for repaying the loan. Also, reverse mortgage loans do not require monthly payments. The loan does not have to be repaid until the homeowner leaves the residence permanently. Reverse mortgages can also be a lifesaver for homeowners that are having difficulty covering living expenses. Many seniors use the proceeds from reverse mortgages to pay for in-home care, and home modifications to make it easier to safely age in place. Reverse mortgages have also saved many seniors from losing their homes to foreclosure from past-due property taxes or current mortgage obligations.

Today’s reverse mortgage comes with precautions to ensure that it’s proper for everyone’s situations. Before completing an application for a reverse mortgage, applicants are required to attend a HUD counseling session. The sessions make sure that applicants understand how reverse mortgages work, and a certificate of the counseling must accompany the reverse application.

Reverse mortgage cons

Reverse mortgages can be beneficial when covering the costs of care. However, the proceeds may affect Medicaid benefits and other need-based programs. Medicaid is a joint state and federal program that assists impoverished seniors in paying for healthcare costs and long-term care. Because of this, Medicaid has income eligibility requirements to be accepted into the program. If a borrower takes a large lump sum of cash from their home equity, it may cause eligibility issues. Consult an expert to discuss your situation and the regulations in your state. An elder law attorney can help answer questions about Medicaid qualification.

The borrower must intend to stay in the home long term when considering a reverse mortgage. If the borrower requires an increased level of care and moves to a nursing home, the loan will become due. However, the loan will not be due if the borrower can manage with in-home care.

The reverse mortgage proves to help many achieve more comfortable retirements in their own homes. However, the reverse is not for everyone. Consult an expert who can review your loved one’s needs and goals to help develop a financial strategy to help pay for long-term care.

These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Retirement Plans in Action? Discover if paying off your 🏠 is a must before retiring. Our Mortgage Consultants provide expert advice and a range of mortgage products to suit your needs. Don't let mortgage uncertainty hinder your comfortable retirement. 💼💰

Answer: 🏡💼 Unsure about which mortgage type to choose? Don't worry, you're not alone! At America's Mortgage Resource, our expert advisors consider your unique circumstances to guide you toward the best decision.

Schedule a call today, and let's turn your dream home into a reality!

During conversations about home equity, a common question often arises—are reverse mortgages safe?

Did you know..... Reverse Mortgages Have Been Around for Over Six Decades. Yep, this is not knew...just different and better from past years.
The first reverse mortgage was issued in 1961 in Portland, Maine. Over the years, many safeguards have been established. Increased legislation and protections make reverse mortgages a good option for many borrowers. Here is a list of those safeguards:

• 1989 - The first FHA insured Reverse Mortgage (HECM) was issued.

• 2008 - The SAFE Act is passed, enhancing consumer protections and reducing fraud by setting standards for the licensing and registration of mortgage loan originators.

• 2012 - Independent counseling requirement updated, ensuring borrowers understand how reverse mortgages work from a government-approved third party.

• 2013 - HUD creates new safeguards on HECM loans, including max-claim equity limits and limiting the amount of equity borrowers can access in their first year.

• 2014 - Proprietary products introduced, unlocking more financial options for borrowers and more equity from high-value homes. Not all FHA guidelines and protections apply to proprietary products.

• 2014 - Non-borrowing spouse (NBS) protection established, allowing non-borrowing spouses to remain in the home after a reverse borrower passes away.

• 2015 - Financial assessment requirement established, ensuring that reverse mortgages are deemed suitable long-term solutions for borrowers before lending is allowed.

• 2018 - Second appraisals established, protecting against misappraisal of home values.

I've been in the business for half the time RM's have been around. I can answer your questions and work with you to see if a RM is a good fit. Call me

Call now to connect with business.

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Many older homeowners use home equity as a retirement tool. Call me to find out more and see if a reverse mortgage is right for you.
You put a lot of money into your home, maybe its time your home paid you back.

A recent article in Forbes magazine discusses aging in place. The ideas and tips are great. A Reverse Mortgage is a great way to finance the project. No monthly principal & interest payment required but pay it if you want to. Call me for more information.

Aging In Place Remodeling: A Checklist For Senior Homes Aging In Place Remodeling: A Checklist For Senior Homes

A Reverse for Purchase is an awesome way for older home buyers to get into a new home 1) without a monthly mortgage payment and 2) can be treated like a regular mortgage by making payments of your choice, but never require. Gives flexibility and easier to qualify. Give us a call to find out how it works.

From purchase to refinance, we've got you covered. 🏡💰
Whether you're purchasing a new house, refinancing your existing home, or seeking a specialized loan, America's Mortgage Resource has the solution tailored for you.

With our fast, easy, and secure online application process, achieving your homeownership dreams has never been easier.

👉️Click the link to learn more: https://amr-no.com/apply-now/

It’s unclear if the woman in this article owned a home. if she does i would suggest a reverse mortgage as a viable alternative to depending on her kids for financial support. She’s likely living in a box of cash called “equity” .

My Children Will Have to Support Me In My Old Age So, why do I feel so ashamed?

Congratulations HomeSmart Realty South on the opening of your new office. Thank you for the opportunity to teach your agents about how to use a reverse mortgage to buy a new home.

Think of all you could do with a little extra in your pocket. ☺️💲You could cover your monthly expenses, pay off credit card bills, or set up a retirement fund for the future. With a Home Equity Conversion Mortgage, that all could be in reach.😃

Find out more about how to turn your home equity into cash: https://amr-no.com/the-five-big-reasons-seniors-should-consider-a-hecm-loan/

Thanks to all the realtors who came to my CE class. I love teaching reverse mortgages. it’s especially rewarding to show realtors how a reverse mortgage can be a valuable financing option for older home buyers.

Another successful presentation to a room full of realtors. Thank you Crescent Title for inviting me Crescent Title

So important to have a “Will” read on

Mom, Do You Have a Will? How do you ask your loved ones if they have a valid will in place? Experts weigh in on the importance of the awkward question.

Reverse Mortgages are not just a refinance product anymore. Did you know you can use a Reverse Mortgage to buy a new home? Downsizing? Or “right sizing” to age in place?
Contact us to see how a HECM Reverse Mortgage works. Maybe its the right product for you.

5 Homebuying & Mortgage Tips for Retirees For retired seniors, the process of buying a new home can seem overwhelming, even if they’ve done it once or twice before. The priorities change in lenders’ eyes, and retirees may find themselves having more difficulty getting approved because their income isn't high enough for them. They often ...

https://amr-no.com/the-five-big-reasons-seniors-should-consider-a-hecm-loan/

The Five Big Reasons Seniors Should Consider a HECM Loan For most retirees, a financial planner is a necessity for figuring out how to comfortably live on their savings after they quit working. But often, there are times when even financial planners need to turn to professionals like us for help to ensure their clients are able to live comfortably in thei

Perspective, attitude, mindset are everything, both at work and beyond. Almost anything we view negatively about a person can be viewed positively instead

Explore the flexibility & freedom offered by a reverse mortgage on your family home without losing the home itself.

https://amr-no.com/reverse/