How Moving Can Save Your Parents Money
As a senior real estate specialist, I'm often approached by senior clients who say, “I'd like to move out of my home, but I don't want a monthly payment.” It's my job to remove that obstacle and help them make the move. To do that, I need to help my clients understand that even though they may own their homes outright, and even though they may not be writing out a monthly check to a mortgage company every month,...Read the rest of this article »Related Articles
Reverse Mortgages Pros and Cons
A reverse mortgage, with pros and cons either you way go, understandably has its fair share of both advocates and critics. A financial tool to help seniors pay for home improvements, stay in their home, and increase their standard of living, the downside of reverse mortgages for seniors is that the cost can be high. I recently met with a family who asked me to outline general reverse mortgage pros and cons and to help them talk with their...Read the rest of this article »Related Articles
The Real Cost of Reverse Mortgages
Chances are, you’ve heard of reverse mortgages. But do you really know how they work? There are many professionals on both sides of the fence. One side will try to sell you on the upsides of reverse mortgages, and the other will warn you of the downsides. Let me tell you this, objectively: reverse mortgages can be a good solution for a certain type of consumer, but they are complicated. Understand how they work before you decide on this...Read the rest of this article »Related Articles
How Can a Real Estate Agent Save Me Money?
At seminars, I’m often asked to talk with seniors about the process of selling a home. The most common question I get is: what do I need to do to get my home ready to sell? I usually tell the person who’s asking that I’d be glad to visit the home and make some suggestions. The response I almost always get: “Oh no! I would need to get my house in order before you came over.” We all think...Read the rest of this article »Related Articles
Helping Parents Move Upwind
In sailing, the technique used to move upwind (or against the wind) is called “tacking.” Although tacking is actually a combination of vector mathematics and boat design, to most of us, it refers to the concept of making forward progress by zigzagging rather than moving forward directly. For adult children helping their parents transition from one home to another, tacking can be a very useful technique. I met recently with a woman in her early eighties. She suffered a...Read the rest of this article »Related Articles
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