Susan A. Pomfret RICP®️
According to the National Reverse Mortgage Lenders Association (NRMLA), homeowners age 62 and older had housing wealth over $13 trillion. This wealth is not liquid. It’s locked up in home equity at a time when older Americans are looking for ways to fund their retirement. Home Equity Conversion Mortgages (HECMs) are one way to unlock this money, and financial planners now consider them an integral part of financial planning for retirement.
What
Is a HECM?
A
HECM allows homeowners 62 and older to access a portion of their home equity to
use in retirement. Reverse Mortgages are available in certain states for those
55 and older and offer higher loan amounts than HECMs.
Retirement Income Planning Basics
A secure retirement income plan should meet your financial goals and address retirement risks. Financial goals may include a source of income, paying for contingencies, and leaving funds for your heirs. Retirement risks may include longevity, inflation, healthcare costs, the need for long term care, the sequence of withdrawal of your funds from your available sources, and changes in public policy. A financial planner can help you develop a plan to address these issues, and a HECM can be an important part of your plan.
Ways
to Use a HECM in Your Financial Plan
The proceeds from a HECM can be used in any way you wish. Once the HECM has paid off your existing mortgage, a financial planner can help you set priorities for the way you spend these funds, such as:
•
Fund home renovations to age in place
•
Purchase a
new home (HECM or Reverse for Purchase)
•
Spend home
equity first to leverage investable asset growth potential
•
Coordinate
home equity to mitigate sequence of returns risk
•
Use tenure payments to reduce portfolio withdrawals – perhaps to
keep them at a
•
sustainable level (4-6%)
•
Use tenure payments as an annuity alternative
•
Delay your Social Security
•
Manage your tax bracket
•
Manage a Roth conversion
•
Pay for long-term health care
•
Fund end-of-life care
•
Protect your home’s value
• Create a contingency fund
If you are considering a HECM as part of your retirement plan, it’s important to remember that the amount you can borrow is determined by the age of the youngest borrower, the interest rate, and the appraised value of the home or maximum claim amount, whichever is less. Also, you’re responsible for property taxes and homeowners’ insurance. Finally, you must continue regular maintenance and make necessary repairs to keep the home in good condition.
If you have additional questions about HECMs or Reverse Mortgages,
I'm here to help. Call me today for more information about this retirement
income option. 401-595-7300.
Bonita Springs is a gem for seniors seeking delightful day trips filled with adventure, relaxation, and cultural enrichment. With a blend of scenic landscapes, historical charm, and leisurely activities, theres something for everyone to enjoy. From serene beaches to scenic parks, these outings offer a chance to immerse yourself in the areas natural surroundings.Whether youre interested in exploring local history or simply enjoying a peaceful day in nature, Bonita Springs offers a variety of experiences that cater to your interests and mobility needs.Heres a guide to some of the best day trips for seniors in and around Bonita Springs, perfect for making the most of your golden years.1. Explore Natures BeautyDiscover the stunning natural landscapes near Bonita Springs:Lovers Key State ParkRenowned for its tranquil beauty, Lovers Key State Park is a paradise for nature enthusiasts. Seniors can enjoy peaceful walks along flat, well-kept trails, making it an ideal spot for bird-watching, relaxing by the water or having a picnic. The park also provides beach wheelchairs, ensuring accessibility for all visitors.Corkscrew Swamp SanctuaryImmerse yourself in a preserved swamp ecosystem. The elevated boardwalk makes it easy to navigate, providing a secure and enjoyable way to explore this natural wonder. Along the trail, you might spot alligators, turtles, and an array of bird species, making it a truly unique experience.2. Relax on the BeachesUnwind at the beautiful beaches near Bonita Springs:Bonita Beach ParkA favorite among locals and visitors alike, Bonita Beach Park offers seniors a serene spot to unwind. With ample facilities, including accessible restrooms and picnic tables, its a great place to enjoy the ocean breeze, have a leisurely meal or take a gentle stroll along the shore.Barefoot Beach PreserveBarefoot Beach Preserve provides a serene escape from the busy pace of life. Its accessible pathways, shaded picnic areas, and breathtaking sunsets make it a perfect spot for seniors to relax and see what Southwest Florida has to offer.3. Discover Local CultureEnjoy the vibrant cultural scene just a short drive from Bonita Springs:Naples Botanical GardenA short drive from Bonita Springs, the Naples Botanical Garden delights the senses. The garden is thoughtfully designed with wide, shaded paths and plenty of seating, making it easy for seniors to explore. Enjoy the beautifully themed gardens, seasonal exhibits, and educational programs that provide a deeper appreciation of the natural world.The Baker MuseumArt enthusiasts will find plenty of inspiration at The Baker Museum in Naples. Featuring a range of exhibitions from classic to contemporary, this museum is senior-friendly with its accessible layout and welcoming atmosphere. Its an excellent spot to spend a culturally enriching afternoon.ArtisNaplesBeyond The Baker Museum, ArtisNaples hosts a variety of live performances, including symphonies, theater, and ballet. Seniors who enjoy the arts will appreciate the rich cultural experiences offered here, making it a must-visit for those looking to enrich their lives with music and theater.4. Visit Historic TownsStep back in time and immerse yourself in the history and charm of nearby towns:Everglades CityVenture to Everglades City for a glimpse into Floridas rich history. This quaint town offers a laid-back atmosphere, with opportunities to visit local museums, enjoy waterfront dining, and learn about the areas unique heritage. Its a perfect destination for a relaxed yet educational outing.MatlachaStep into the vibrant world of Matlacha, a colorful fishing village known for its eclectic art galleries, charming boutiques, and cozy cafes. The towns laid-back vibe and welcoming atmosphere make it a perfect destination for seniors to explore, shop, and enjoy dining experiences.Fort Myers River DistrictExperience the charm of the historic Fort Myers River District. With its brick-lined streets, unique shops, and diverse dining options, this area is a lively yet accessible destination. Seniors will enjoy the array of cultural events, live music, and the opportunity to explore at their own pace.5. Enjoy Leisurely ActivitiesTake a break from the everyday hustle and indulge in some leisurely activities around Bonita Springs:Tin CityTin City in Naples offers a nostalgic waterfront shopping experience. Stroll through unique shops, indulge in delicious food, and take in the scenic views. The relaxed atmosphere and easy-to-navigate layout make it a favorite for seniors looking for a leisurely day out.Koreshan State ParkDiscover Koreshan State Park, where you can explore easy walking trails and historic buildings. The park offers picnic spots for a relaxing outdoor meal, making it an ideal destination for a day of leisurely exploration and enjoyment.Wonder GardensWonder Gardens in Bonita Springs is a must-visit destination for nature enthusiasts. The garden features rehabilitated and non-releasable birds and reptiles, offering visitors a unique opportunity to observe and learn about these creatures up close. With its educational exhibits, Wonder Gardens provides an engaging experience for guests to explore wildlife conservation efforts and gain a deeper understanding of the natural world.Make the Most of Your Day Trips With The Terraces at Bonita SpringsAt The Terraces at Bonita Springs, our residents enjoy the freedom to explore these wonderful destinations, making every day an opportunity for adventure and relaxation. Our community promotes an active lifestyle, encouraging residents to engage with their surroundings and participate in exciting outings.With organized group excursions and convenient transportation options, you can easily join friends for a day of exploration or relaxation, whether a trip to a scenic nature park, a visit to a charming local town or a cultural experience at a nearby museum.Our supportive environment allows you to maintain independence while enriching your life with new experiences. With a calendar full of activities and outings tailored to all interests, theres always something happening at The Terraces.Contact us today at 239-208-6963 to learn how The Terraces at Bonita Springs can enhance your lifestyle, support your independence, and open doors to exciting new adventures in and around Bonita Springs.
We provide housing for a wide range of individuals, ensuring secure and supportive living environments for those in need. Our goal is to offer comprehensive support, promoting stability, dignity, and community involvement for every person we serve.Displaced Adults We assist people who are experiencing displacement due to life transitions, natural disasters, or economic challenges. By offering secure housing options, we aim to provide stability and emotional support as they adjust to new circumstances in their lives. Our programs include personalized case management to help individuals regain self-sufficiency.Veterans We honor those who have served our country by offering targeted housing assistance for veterans. Our services support their honorable and respectful transition back to civilian life, ensuring they have the resources needed for long-term stability. We collaborate with veteran organizations to provide additional services such as counseling, job training, and access to healthcare.Senior Citizens Our housing options for seniors are designed to support their independence and well-being. We create environments that prioritize safety, comfort, and accessibility tailored to their unique needs. Our communities encourage social interaction, wellness programs, and access to medical services to ensure a high quality of life.(SSI/SSDI) Income Recipients We provide secure housing solutions for individuals receiving SSI/SSDI income. Our goal is to guarantee them stability and a secure living arrangement based on their guaranteed income. We offer budget counseling and community support programs to ensure financial wellness and social inclusion.Families in Need We extend our services to families facing housing challenges. Our family housing programs provide safe and nurturing environments for parents and children. We focus on holistic support, including access to educational resources, childcare services, and community-building activities to empower families towards self-sufficiency.Persons with Disabilities We offer specialized housing options for individuals with disabilities, ensuring accessibility and necessary support services. Our goal is to create inclusive environments that promote independence while ensuring necessary care and accommodations are readily available.Make an Inquiry! If you or someone you know needs housing assistance, contact us today to learn more about our services and how we can help. Our team is ready to assist with compassionate and personalized support, ensuring every individual has the opportunity for a stable and dignified living environment.
About Us Welcome to Ona Solutions, where we specialize in providing housing for independent adults and assisting individuals in finding affordable housing options. Our dedicated team is committed to creating safe, supportive, and sustainable living environments that empower individuals to thrive. We operate with a foundation of compassion and a strong sense of community, working tirelessly to ensure everyone has access to a place they can call home. At Ona Solutions, we firmly believe that housing is a fundamental human right and strive to make this belief a reality for all.Mission At Ona Solutions, our mission is to transform lives by offering secure, affordable, and dignified housing solutions for independent adults and those seeking affordable living options. Our goal is to foster a supportive community where individuals can regain stability, independence, and hope. Through our dedicated efforts, we aim to address the housing deficit and ensure that every person we serve has the opportunity to lead a better, more fulfilling life.Vision Our vision at Ona Solutions is a world where affordable housing is accessible to all. We envision a society where everyone has a place to call home, enabling them to lead fulfilling and independent lives. By continuously innovating and advocating for sustainable housing solutions, we aspire to be a leader in creating lasting change and brighter futures for individuals and communities alike.Why Choose Ona Solutions?Commitment to Community: We prioritize creating a sense of belonging by fostering supportive and inclusive housing environments.Affordability: We are dedicated to providing cost-effective housing solutions to help individuals maintain financial stability.Sustainability: Our focus on sustainable practices ensures long-term housing security and positive environmental impact.Empowerment: We empower residents by offering resources and support systems that encourage personal growth and independence.Get Involved At Ona Solutions, we believe positive change happens when communities come together. Whether you are seeking affordable housing or want to support our mission, we welcome you to join our efforts in making housing accessible for all. Together, we can create a brighter future where everyone has a place to call home.
At USA Mortgage, we are passionate about helping seniors achieve financial flexibility through Home Equity Conversion Mortgages (HECMs) and other Reverse Mortgage solutions. With a customer-focused approach and over two decades of experience, we provide tailored mortgage options designed to meet the needs of homeowners aged 55 and older.Our dedicated local Team are experts in HECMs/Reverse Mortgages, guiding you every step of the way with a seamless loan process. Whether youre looking to access your homes equity, refinance, or explore a HECM or Reverse for Purchase option, USA Mortgage offers a wide range of solutions to help you reach your financial goals.We pride ourselves on delivering a reliable, detail-oriented, and personalized experience. From the initial consultation toloan closing, our Team is committed to finding the right product that works for you, providing peace of mind and financial freedom. Trust USA Mortgage to be your premier home loan partner, empowering you to make the most of your retirement years.We offer a wide range of mortgage options to suit your specific needs and financial goals. From conventional loans to FHA, VA, and USDA loans, HECM and Reverse Mortgage loans. USA Mortgage has the expertise to help you find the perfect mortgage solution. Susan A. Pomfret, RICP has a career spanning several decades, she is proud to be one of the trailblazers in the reverse mortgage industry, having the honor of originating one of the first HECMs in Rhode Island in 1989 and has since dedicated her career to advancing the industry, playing a pivotal role in elevating companies to new heights. Under her leadership, she has transformed HECM closings, overseen vast teams, and engineered sales strategies nationwide.Susan's passion extends beyond just professional accomplishments; she is deeply committed to the senior community. This is reflected not only in leadership roles within senior-focused non-profit organizations but also in the dedication as a volunteer and advocate. She has been published in numerous mortgage publications, covered esteemed events like the White House Conference on Aging in 2005 and 2015, and was chosen to assist in writing the first Certified Reverse Mortgage Professional (CRMP) exam for the industry's trade organization, the National Reverse Mortgage Lenders Association (NRMLA).In addition to Susan professional endeavors, she holds a Bachelor Degree in Paralegal Studies, a Certificate in Gerontology from Roger Williams University and the Retirement Income Certified Professional Designation from The American College of Finance Services. Susan is driven by the mission to enrich the lives of our senior population and empower retirees to live a financially stress-free retirement.Contact Susan Pomfret, RICP at 401-595-7300 to schedule your free consultation.NMLS#1253876. Licensed in FL (License #LO125044)