Discover the Power of Reverse MortgagesAre you a senior homeowner looking for extra cash to live more comfortably? A reverse mortgage could be the solution you need! Its a simple way to convert the equity in your home into tax-free income without the need to sell your property or make monthly mortgage payments.With a reverse mortgage, you can access the money tied up in your home to pay for medical expenses, home repairs, daily living costs, or even travel and enjoy your retirement to the fullest. The best part? You continue to live in your home, with no monthly payments required. The loan is only repaid when you sell the house, move out, or pass away.Why Consider a Reverse Mortgage? No Monthly Payments: Enjoy the freedom of not worrying about mortgage payments. Stay in Your Home: Keep your property while accessing its equity. Flexibility: Use the funds for whatever you need, healthcare, debt relief, or simply improving your lifestyle. Supplement Retirement Income: The money you receive is generally not considered taxable income. Who Qualifies? To qualify, you must be 62 or older and own a home. The amount you can borrow depends on factors like your homes value, your age, and current interest rates.Are you still wondering if a reverse mortgage could be right for you? Youre not alone. Many seniors feel uncertain about this option at first, but with the right guidance, it could make a huge difference in your financial well-being.Thats why were here to guide you through the process every step of the way. Dont hesitate to explore your options. Your home could be the key to unlocking a brighter, more comfortable future. Get Started Today! Contact us now for a free consultation to see if a reverse mortgage is right for you. Let us help you unlock the financial freedom you deserve. Contact Anchor Funding at reversemortgagechecklist.com or call 251-349-9891.
Many Colorado Seniors and Disabled Adults are concerned about the recent funding discussions about Federal, not State, Medicaid changes, and how they might impact Long-term Care Medicaid benefits here in Colorado. There are 40+ different Medicaid programs in the State of Colorado alone, which are funded differently. Some of these Medicaid programs will be impacted by Trumps changes.At this time, it is important to know that the Medicaid changes imposed do not affect Long-term Care Medicaid in Colorado. If you are currently receiving Long-term Care Medicaid benefits or considering applying, you can rest assured that your eligibility, services, and coverage remain intact. Long-term Care Medicaid has already been funded for 2025, therefore nothing will change this year. In addition, there have not been any major changes to Colorado Long-term Care Medicaid in 20 years, and we dont foresee any changes now. In the meantime, if you have any questions about your coverage or need assistance navigating the Long-term Care Medicaid process, please dont hesitate to reach out to Beneficent. www.DoingGoodForOthers.com/contactus
Its widely thought that home ownership is a key to building wealth but is it? And should you consistently make sacrifices to buy your own home? Lets start with the first question: Is owning a home essential to building wealth? It would probably be more accurate to say that home ownership can be helpful in building wealth. Building home equity essentially, the difference between the size of your homes value and what you still owe is certainly valuable. Plus, the bigger your equity, the less you might have to take out in a new mortgage if you ever want to buy a different home. Now for the next question: How much should you sacrifice to buy your own home? This isnt an easy question to answer because buying a home isnt just a financial issue its also an emotional one. Many people simply like the feeling of owning a home. If you fall into this category, you might be willing to make many sacrifices to join the ranks of homeowners. However, if youre relatively young and you are part of a single or even a dual-income household, you may well find that your other priorities are more important than home ownership, at least for the moment. These priorities can include paying off student loans, reducing other debts, paying for child care, meeting health care costs and even saving for retirement. With all these expenses, you might not be able to take on a big mortgage, along with real estate taxes, homeowners insurance and the inevitable but costly repairs that come with owning a home. In addition to the danger of becoming house poor by paying too high a percentage of your income on your mortgage, you could face another issue by sinking too much money into your home and thats liquidity. A home is much more illiquid than savings or investment accounts, so if you needed money in a hurry, and most of yours was tied up in your home, you might be in a jam. You could tap into your home equity through a loan or a line of credit, but thats basically taking on even more debt, though these loans and credit lines typically offer lower interest rates than other forms of borrowing. So, heres the bottom line: You dont need to feel that you are missing out on a chance to build wealth by not buying a home immediately especially if you would feel extremely stretched by the mortgage payments, given how expensive homes are today. You wont hurt yourself and, in fact, youll likely help yourself by taking care of your most pressing priorities first. Of course, this doesnt mean that you can never become a homeowner. If you would still like to own a home someday, you could start saving for a down payment, keeping the money in a liquid, low-risk account. Just as importantly, though, you should plan on how owning a home can fit into your budget and how it will affect your cash flow. If you can manage it, you may indeed find that theres no place like home.Chad Choate III, AAMS 828 3rd Avenue West Bradenton, FL 34205 941-462-2445 chad.chaote@edwardjones.com This article was written by Edward Jones for use by your local Edward Jones Financial Advisor. Edward Jones-Member SIPC