RHF Communities-Committed to Service. Dedicated to Excellence. Enhancing Quality of Life.

Monday, March 26, 2012 17:20

San Diego Senior Communities

Senior Living, San Diego Real Estate

RHF is one of the nation’s largest non-profit providers of housing and services for older adults, persons with disabilities, and low-income families.

RHF was founded in 1961 by two United Church of Christ clergy and a layman with a vision of providing quality housing and services for seniors.

With $7,000 and that vision they launched what has become one of the nation’s largest non-profit providers of housing and services for older adults. The mission has since expanded to include persons with various disabilities and low-income families.

Visit  www.rhf.org for more information!

Seniors Home Owners Find Financial Resource in Reverse Mortgages

Monday, March 26, 2012 16:58

San Diego Seniors Real Estate News

San Diego Real Estate, Seniors

For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a home equity loan. But a conventional loan really doesn’t free up the equity because the money has to be paid back with interest.

A reverse mortgage is a risk-free way of tapping into home equity without creating monthly payments and without requiring the money to be paid back during a person’s lifetime. Instead of making payments the cash flow is reversed and the senior receives payments from the bank. Thus the title “reverse mortgage“.

Many seniors are finding they can use a reverse mortgage to pay off an existing conventional mortgage, pay off debt or help pay for home repairs, remodeling or long term care needs.

False Beliefs

“The lender could take my house.” The homeowner retains full ownership. The Reverse Mortgage is just like any other mortgage; you own the title and the bank holds a lien. You can pay it off anytime you like.

“I can be thrown out of my own home.” Homeowners can stay in the home as long as they live, with no payment requirement.

Virtually anyone can qualify. You must be at least 62, own and live in, as a primary residence, a home [1-4 family residence, condominium, co-op, permanent mobile home, or manufactured home] in order to qualify for a reverse mortgage. Continue…

Are you Listening?

Wednesday, March 7, 2012 0:46

Remember when your parents were lecturing you on the rules for taking the car for a spin? Dad would put his face in front of yours and say, “Are you listening?” Of course you would say “sure” even though your mind was miles away on the adventure to come.

Today, as adults, the children who received the counsel and wisdom of their parents are facing a reverse situation in their lives. They are finding themselves concerned about their aging parents and what their needs will be as their health and mental abilities fail them. In some cases the children must take the role as parent in securing the safety and well being of an elderly family member.          

Julie lives 600 miles from her mother. Knowing her mothers health is frail and she lives alone, Julie calls her every evening after work. The conversation always goes like this;                     

“How are you doing today Mom, Julie asks? “Everything’s fine”, Mother replies. “Are you taking your pills?” “Yes, everything’s fine.” “Do you need anything?” “Everything’s fine.”                   

Julie does not get much more conversation from her mother. Perhaps everything is fine, or perhaps Julie’s mother just wants Julie to think she can take care of herself. Even worse, mother could think all is fine and be forgetting her medication and not eating properly.  Continue…