The Federal Reserve’s Rate Reduction: What It Means for Your Reverse Mortgage
As you may have heard, the Federal Reserve is expected to reduce interest rates by 0.25% next month. This change is part of a trend that may continue into 2025, and it could be great news if you’re considering a reverse mortgage. But what does this mean for you? Let’s break it down. What Is…
Read MoreThe Bain Reverse Team at Fairway Independent Mortgage Presents: Swing for a Cause 2024
Attention golfers and philanthropists alike! When: Thursday June 13th 8am -1pmWhere: 2156 Red Hawk Ridge Dr, Castle Rock, CO 80109Click HERE to register We are thrilled to announce the inaugural Swing for a Cause 2024 Golf Tournament, proudly sponsored by The Bain Reverse Team at Fairway Independent Mortgage. Join us for a day of camaraderie, competition,…
Read MoreExploring the Benefits: Reverse Mortgage Line of Credit vs. Home Equity Line of Credit
In today’s financial landscape, where consumer debt in America is soaring, finding effective solutions to manage and consolidate debt has become paramount for many individuals. Two popular options that financial planners often consider are the Reverse Mortgage Line of Credit and the Home Equity Line of Credit (HELOC). Both offer unique features and advantages, but…
Read MoreReverse Mortgage Purchase Case Study
Karen’s husband was an awesome handyman around the house. He could fix anything, and it was not uncommon to see him working on home repair projects or wearing a tool belt. However, since he passed away, managing the house alone had become challenging for Karen. While their home had served them well and was perfect…
Read MoreStrategic Tax Planning with Reverse Mortgages
The Tax Cuts and Jobs Act of 2017 (TCJA) brought significant changes to tax laws in the United States. Among its impacts, it reshaped how mortgage interest deductions work, making reverse mortgages a more powerful tool for strategic financial planning, especially regarding retirement accounts like IRAs, Roth conversions, Net Unrealized Appreciation (NUA), and other tax-related…
Read MoreProtecting Older Adults from Financial Abuse: Strategies to Safeguard Your Loved Ones
Each year in the United States, more than 369,000 cases of financial abuse against older adults are reported. This form of abuse involves the theft or misuse of money belonging to older individuals, often by someone they know. According to a study by Comparitech, a cybersecurity research company, these incidents result in estimated losses of…
Read MoreFinancial Difficulties Widows Encounter
It is crucial to acknowledge the pressing financial difficulties widows encounter, especially as they age. The numbers paint a concerning picture: presently, 20% of women over 65 are grappling with poverty, with a significant portion being single and relying solely on social security payments. Furthermore, the longevity gender gap compounds the issue, as 50% of…
Read MoreClearing Up Reverse Mortgage Myths: What You Need to Know
Are you curious about reverse mortgages but feel overwhelmed by the myths surrounding them? You’re not alone! Let’s break down these misconceptions and get to the truth about reverse mortgages, with the help of George Bain, a trusted reverse mortgage professional at Fairway Independent Mortgage. Myth #1: I could lose my house and be forced…
Read MoreUnlocking Home Equity: The Imperative Role of Reverse Mortgages in Financial Planning
The prevailing tendency among financial services professionals to overlook the integration of home equity planning or reverse mortgages into their practices is, in my perspective, a notable shortcoming. The omission of home equity and reverse mortgages from the financial planning process arguably stands out as the most significant failure within the current state of the…
Read MoreExploring Living Options for Seniors: Aging at Home and Beyond
Your choice of living arrangement during retirement greatly influences various aspects of your life— from your comfort and safety to financial stability and social connections. While many seniors prefer to age in their long-term homes, others consider alternative living arrangements that better suit their evolving needs. There isn’t a singular “best” option for everyone, as…
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