Reverse Your Mortgage

National Aging in Place Week Kicks Off, New Website Released

National Aging in Place Week Kicks Off, New Website Released.

Check out the new national aging in place website.

DOWN SIZING WITH A REVERSE MORTGAGE, A RETIREMENT TOOL-Ask your self these "Age in Place" questions

Considering a reverse mortgage? Here are some questions to ask your self first. It's quoted time and time again; over 95% of seniors want to live the duration of their retirement years in their own homes. Often consumers will start their research on programs, costs and numbers. I propose that if you are looking at using a reverse mortgage to improve and enhance your retirement lifestyle, you ask yourself a few questions before you consider reverse mortgage program numbers and costs.

1. Is this the house I plan on staying in for the rest of my life?

2. Is this a house that I can afford to stay in the rest of my life?

3. Will it need a new roof, painting or a new furnace? Do I have the funds for this or will it be a struggle?

4. Can I easily pay my property taxes?

5. Can I maintain my home myself or do I have the resources to have my home maintained for me? Handyman work, house cleaners, laundry and grocery shopping etc.

6. Or if I don't have the financial means to pay for these things when I either don't want to or can't do them, do I have reliable family or friends that are willing to help me as I age?

7. Do I have the emotional, physical & financial resources to stay in this particular house?

8. Are my bedrooms upstairs? If I am injured or have arthritic knees, will I be able to move about the house safely?

9. Do I have more house than I really want?

10. Would it make sense for me to down size?

11. Would it make sense for me to move closer to my son or daughter?

12. Would I be better off if I sold my home, added my profits to my retirement resources and buy a smaller home with a reverse mortgage?

13. By staying in this house will I able to maintain my independence and set myself up for healthy aging on all levels or should I consider downsizing?

Potential Downsizing examples for Mr. & Mrs. Anderson moving from a $700k valued home to a $430k valued home and Mr. & Mrs. Jones moving from a $420k valued home to a $300k valued home:

Mr. & Mrs. Anderson are both ages 68. The Andersons own a home valued at $700k and they owe $220k. After commissions, closing costs, mortgage payoff & moving etc. the Andersons retain an estimated $430,000 from their sale. Instead of paying cash for their new retirement home, the Andersons either:

A. Purchase a $430,000 home with a reverse mortgage put down a one time payment of $180,000 and have no house payments for the life of their loan. They also take the balance of $250,000 as principal residence tax exempted proceeds (Internal Revenue Code 121 principal residence sale tax exemption; consult your tax advisor).

Or

B. Purchase a $430, 000 with a reverse mortgage and set up a credit line that is liquid and tax free when accessed. The unused portion of the credit line grows at the same rate as the loan rate, this gives the Andersons approximately a $250,000 credit line and every year has access to more money guaranteed.

Mr. & Mrs. Jones are both ages 68. The Jones’s own a home valued at $420k and they owe $40k. After commissions, closing costs, moving etc. the Andersons retain an estimated $350,600 from their sale, moving and mortgage payoff. Instead of paying cash for their new retirement home, the Jones’s either:

A. Purchase a $300,000 home with a reverse mortgage, put down a one time payment of $119,000 and take the balance of $231,600 as principal residence tax exempted proceeds (

Internal Revenue Code 121 principal residence sale tax exemption; consult your tax advisor).

The Jones’s will have no house payments, purchasing with a reverse mortgage.

Or

B. Purchase a $300,000 home with a reverse mortgage and set up a credit line of $181,000 that is liquid and tax free when accessed. The remaining balance of $50,600 is taken as principal residence tax exempted proceeds (Internal Revenue Code 121 principal residence sale tax exemption; consult your tax advisor).

The unused portion of the credit line grows at the same rate as the loan rate; this gives the Joneses an approximate $181,000 credit line. This credit line grows at the same rate as their loan rate. Every year they will have access to more money guaranteed.

If you have a reverse mortgage question, CALL Angella Conrard at 866-949-7030 or log onto www.reverse-your-mortgage.com.

National Aging in Place Code of Conduct

LA Times list of "GrandCare" Monitoring systems

Today’s Los Angeles times Home section has an excellent article in supporting the alternative option to assisted living by using new technology called “GrandCare” systems. These systems use computers, sensor, and webcams to help seniors live safely at home, maintain their independence, and give both the seniors and their adult children peace of mind.
The article continues to comment on the “aging in place” movement driven by baby boomers and the enormous burden on the U.S. healthcare system.
“Corporations and government policy makers realize that as the boomers age, the costs won’t be sustainable if we continue to do business the way we’re doing it right now,” says Majd Alwan, director of the Center for Aging Services Technologies in Washington, D.C.
“There is an intrinsic value to the home, where the individual has a sense of accomplishment and a level of comfort that they will never replicate by moving,” says Peter Bell executive director of the National Aging in Place Council in Washington, D.C. Click here to read the entire article.

Share Your Services & Products to Local Seniors

As you may know, I am President of the local chapter of the National Aging in Place Council (NAIPC). If you provide services to senior citizens in the Orange County area, I’d like to invite you to join our group and participate in our new NAIPC Resource Guide.

The NAIPC is a local group of professionals dedicated to increasing seniors’ standard of living by providing them with information and ideas they can use to remain independent throughout retirement. We share information that enhances our business and our abilities to help seniors. Our new Resource Guide, which will have both print and online components, will provide information about resources that seniors need to remain independent. Participants include financial planners, home care providers, social agencies, hospice care providers, auto mechanics, home repair service people, and more.

This is an excellent marketing opportunity for your business as well as a terrific free/helpful resource that you can offer to your clients – who can use the listed resources in confidence knowing that all NAIPC members have agreed to a rigorous code of ethics (click here to view the NAIPC Code of Conduct)

The deadline for participating in the print version of the Guide is October 1, 2007; the printed Guide will be available for distribution before the end of the year. There is no deadline for participating in the online Guide.

The NAIPC meets monthly on the first Wednesday of the month from 7:15 to 9:00 am, at the Florence Sylvester Senior Center in Laguna Hills. For more information about this organization, please give me a call at 949-439-7030. aconrard@gmail.com. You can also visit our national website www.naipc.org.

Membership Benefits 

• <!--[if !supportLists]-->Exclusive membership in our national network of professionals. We help members of NAIPC form Local Chapters of the National Aging in Place Council. These Local Chapters are business-to-business forums for those involved to network and keep updated on aging trends.
  
  
• <!--[if !supportLists]-->NAIPC Code of Conduct. Know that you are associated with reputable companies. Give your clients added peace of mind they are working with a trustworthy business.
  
  
• <!--[if !supportLists]-->National Aging in Place Week. Assist members in the planning and implementation of community-based activities during National Aging In Place Week.
  
  
• <!--[if !supportLists]-->Aging In Place News. The only newsletter of its kind devoted to market trends, consumer products, senior issues, legislative and regulatory updates and other NAIPC activities.
  
  
• <!--[if !supportLists]-->NAIPC.org. Members of NAIPC are listed in our resource directory on the NAIPC website. The general public visits NAIPC.org to locate people who can assist them with their needs. The website offers valuable information on organizing NAIPC Local Chapters and educational activities during National Aging in Place Week.
  
  
• <!--[if !supportLists]-->Advocacy. Advocate for the adoption of policies, regulations, and business practices that promote aging in place.
  
  
• <!--[if !supportLists]-->Discount on conference fees. Our National Summit will give members an opportunity to network, discuss major issues, and exchange ideas.
  
  
• <!--[if !supportLists]-->Media Outreach and Consumer Education.

Media Alert: "Aging in Place" Conference Scheduled for Newport Beach, CA

NEWS RELEASE

January 25, 2007

FOR IMMEDIATE RELEASE

 

Contact:         

Darryl Hicks, Associate Director, NAIPC

          

Dhicks@DWORBELL.com

 

Media Alert: "Aging in Place" Conference Scheduled for Newport Beach, CA

 

Washington, D.C.-The National Aging Aging in Place Council is pleased to announce that we are hosting a luncheon and conference on February 22 in Newport Beach, Calif. at the Fairmont Newport Beach, located at 4500 MacArthur Blvd., Irvine, Calif.

 

Program highlights include:

• Age Wave Trends: Recognizing the Opportunities and Preparing to Cater to the "Silver Tsunami" featuring Mary Furlong, Author of Turning Silver into Gold: How to Profit in the New Boomer Marketplace
• Honing Your Message: Persuading Seniors & Their Families to Pro-Actively Plan for Aging in Place featuring Ciji Ware, Author of Rightsizing Your Life: Simplifying Your Surroundings While Keeping What Matters Most (Warner Books/Springboard Press) and Jane Glen Haas, journalist and founder of WomanSage, a non-profit organization dedicated to enriching the lives of mid-life women.
• Taking a Stand: Helping Protect Our Clients from Senior Fraud featuring Peggy Osborne, California Attorney General's Crime and Violence Prevention Center
• Trending and Innovation in Home Modification featuring Susan Duncan, President, ADAptations inc.

NAIPC serves as an ongoing forum for individual professionals and businesses from the private, public and non-profit sectors to work together to help America's elderly homeowners live independently throughout retirement. Coalition members include skilled persons from a wide variety of fields, including remodeling, architecture, interior design, financing, elder law, product design and manufacturing, urban planning, social services, health, and others.

 

Don't miss this rare opportunity to meet and network with some of the nation's leading authorities on aging trends in America.  Attached is a copy of the agenda. To learn more, visit our web site at www.naipc.org.

 

To reserve a spot, please RSVP to Darryl Hicks, at dhicks@dworbell.comThis email address is being protected from spam bots, you need Javascript enabled to view it .

 

 

 

National Aging in Place Council

Western Regional Meeting & Luncheon

Thursday, February 22, 2007

Fairmont Hotel, Newport Beach, CA

 

 

12:30 - 1:45 p.m.         Luncheon  Age Wave Trends:
Recognizing the Opportunities and Preparing to Cater to the "Silver Tsunami"
Mary Furlong, Mary Furlong & Associates, Lafayette, Calif.
1:45 - 2:45 p.m. Honing Your Message:
Persuading Seniors & Their Families to Pro-Actively Plan for Aging in Place
Jane Glen Haas, Woman's Sage, Irvine, Calif.
Ciji Ware, Life Events Media, Sausalito, Calif.
2:45 - 3:30 p.m. Taking a Stand: Helping Protect Our Clients from Senior Fraud
Speaker to be announced
3:30-4:15 p.m.Trends & Innovation in Home Modification ,Susan Duncan, ADAptations inc., Bend, OR
4:15-5 p.m. Networking Reception