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Retirement Planning Services Laporte IN

See below to find local retirement planning services in Laporte that provide access to advice on saving programs, investing strategies, real estate planning, traditional pensions, and Social Security as well as advice and content on retirement calculator and creating a secure retirement plan.

Ms. Jane E. Dorman, CFP®
(219) 362-0400
601 Jackson St
La Porte, IN
Wells Fargo

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Mr. Michael T. Arnett, CFP®
(219) 324-9111
1100 Boyd Blvd
La Porte, IN
1st Source Bank

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Mr. Robert J. Mckee, CFP®
(219) 879-8001
300 Wilshire Avenue
Michigan City, IN
McKee Investment Group

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Mr. William J. Lillwitz, CFP®
(312) 506-3453
17 St. Andrews Dr.
Long Beach , IN
Chicago River Capital

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Mr. Thomas M. Calkusic, CFP®
(219) 926-4501
830 Sidewalk Rd
Chesterton, IN
Ameriprise Financial

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Mr. Steven M. Gronceski, CFP®
(219) 362-8442
1101 Boyd Blvd
Laporte, IN
Strategic Financial Group, LLC
Areas of Specialization
Accounting, Asset Allocation, Business Succession Planning, Charitable Giving, Comprehensive Financial Planning, Estate Planning, Insurance Planning
Key Considerations
Average Net Worth: $1,000,001 - $5,000,000

Average Income: $100,001 - $250,000

Data Provided by:
Mr. D. Drummond Osborn, CFP®
(219) 716-0013
800 Lincolnway
La Porte, IN
OSBORN Wealth Management

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Ms. Melinda S. Nagle, CFP®
(219) 878-0590
411 Franklin St
Michigan City, IN
Edward D Jones & Company

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Ms. R. Marlene Kramer, CFP®
(269) 469-7510
6801 US 12 West
Three Oaks, MI
Horizon Bank

Data Provided by:
Mr. Daniel J. Bloomquist, CFP®
(219) 707-1405
920 Portage Ave
Chesterton, IN
ADA Financial LLC

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Retirement Income from Your Manufactured Home

Retirement Income from Your Manufactured Home
Wed 09/05/07 10:16:20 am
Enjoy the Equity You Invested

Whether seeking money to finance a home improvement, pay off a current mortgage, supplement your retirement income, pay for healthcare expenses, or just to enjoy life, many older Americans are turning to reverse mortgages. They allow senior homeowners to convert part of the equity in their homes into cash without having to sell their homes or take on additional monthly bills These loans are being viewed as alternative income for seniors who don't want to liquidate their stock and bond assets in a down market.

A reverse mortgage allows home owners aged 62 and older to receive a loan against their home -- either in the form of a lump sum, regular monthly checks or a line of credit -- that's repaid with interest when the borrower sells the house, permanently moves, or dies.

They were once branded predatory loans that preyed on vulnerable older people. For years, the market was dominated by products with convoluted pricing structures, high exit fees and out-of-control interest rates.

But they have gained more credibility in the last decade, tamed by legislation in the mid-1990s that required more upfront disclosures of costs. Plus, software that allows for objective comparisons of loan offerings has helped people get a handle on their options, said Bronwyn Belling, reverse-mortgage specialist at the AARP Foundation, a unit of AARP in Washington, D.C..

Adding to people's comfort levels, the first federally insured product was introduced in 1989. It now makes up about 95% of all reverse-mortgage sales.

In the last fiscal year ended Sept. 30, the number of reverse mortgages rose to a record 13,049. That's nearly double the previous record of 7,982 in 1999, and last year's total sales of 7,781, according to data from the National Reverse Mortgage Lenders Association, NRMLA, a trade group for reverse-mortgage lenders in Washington, D.C.

Today's borrowers seem to be using cash from reverse mortgages to pay down remaining debt on their traditional mortgages, and using the remainder to fund other retirement costs, said Jeff Taylor, vice president for senior products at Wells Fargo Home Mortgage in Greensboro, N.C. Seniors are seeking a combination of payment method -- lump sum and monthly check or line of credit and monthly check, he added.

The reason some homeowners turn to a reverse mortgage instead of a traditional home-equity line of credit is because debt payments, including interest and other costs, are stalled until a later date, usually when the owner dies. Few out-of-pocket costs can be a huge lure for income-strapped retired people.

But as more people become aware of the potential benefits of a reverse mortgage -- a trend that is expected to continue as the population over the age of 62 expands -- they should also be aware of the drawbacks.

A Reverse Mortgage is a loan that is gua...

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