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Author of Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement

A discussion with Wade D. Pfau, Ph.D. who has long been seen as an authority on financial planning and how reverse mortgages can be utilized to meet retirement goals. The latest edition of his book has been updated to reflect changes in these programs.  

Wade D. Pfau, Ph.D., CFA, RICP®, is the program director of the Retirement Income Certified Professional® designation and a Professor of Retirement Income at The American College of Financial Services in King of Prussia, PA, as well as a co-director of the college’s Center for Retirement Income. As well, he is a Principal and Director for McLean Asset Management and RISA, LLC. He also serves as a Research Fellow with the Alliance for Lifetime Income and Retirement Income Institute. He holds a doctorate in economics from Princeton University and has published more than sixty peer-reviewed research articles in a wide variety of academic and practitioner journals. He hosts the Retirement Researcher website, and is a contributor to Forbes, Advisor Perspectives, Journal of Financial Planning, and an Expert Panelist for the Wall Street Journal. Wade’s newest book is Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success. He is also the author of the books Safety-First Retirement Planning: An Integrated Approach for a Worry-Free Retirement, How Much Can I Spend in Retirement? A Guide to Investment-Based Retirement Income Strategies, and Reverse Mortgages: How to Use Reverse Mortgages to Secure Your Retirement.

Wade D. Pfau, PhD, CFA, RICP : wade@retirementresearcher.com

Powerpoint: Pfau Reverse Mortgages - 3rd Ed.pdf

Questions Asked

  • Who are the top reputable companies offering a reverse mortgage?
  • Thank you can you expand upon what a younger spouse has to do to qualify as eligible none borrower and continue to live in the home if spouse over sixty two is no longer in the home, thank you so much
  • How do reverse mortgages compare to home equity lines of credit as a way to tap into the value of the house?
  • Still confusing, do you just designate the younger spouse under age sixty two as an eligible none borrowing spouse when you take out the reverse mortgage so if the older spouse passes away the younger spouse is protected and they continue to live in the home when older spouse passes away or goes to a nursing home. thanks
  • Can you explain and talk about the permanent line of credit growth and attractive features of line of credit with reverse mortgages
  • Do you know when eligible none borrowing spouse protections became available?
  • Where do we find information about eligible none borrowing none spouse protections to continue to live in the home?
  • Is the growing HECM LOC at risk of being eliminated?
  • Comparing the HECM to a proprietary reverse mortgage, what are the advantages (and disadvantages)?
  • how do we get your book
  • Isn't the proprietary cheaper than the HECM because there's no mortgage insurance premium?
  • Are any lenders writing home equity lines of credit or reserve mortgages on COOPS  - nor condos?
  • reverse to purchase can you explain and talk about using the reverse mortage to purchase a home
  • I have been a financial professional for 41 years, and Wade is one ot the top 5-6 I refer clients to for reading articles, etc. by Wade!
  • Could you show and discuss line of credit slide

Chat Transcript

12:07:53     From  Steve Gurney - ProAging Community   to   Hosts and panelists : https://retirementresearcher.com/

12:11:01     From  Tracy Skalitzky : Tracy Skalitzky, Oasis Senior Advisors, helping seniors find the right Assisted Living or Memory Care Community. 301-678-8100

12:15:36     From  Pam Ostrowski : Pam Ostrowski, Alzheimer's Family Consulting, helping families and senior living owners and operators navigate the Dementia journey. Pam@ItsNotThatSimple.com

12:22:11     From  Belinda Ragin   to   Hosts and panelists : Would you recommend- or is even possible-to get a reverse mortgage for an elderly widow who lives in a very poorly maintained mobile trailer that is located on more than 3 acres of the land she owns?

12:22:19     From  Pam Ostrowski : Please name some companies!!

12:23:19     From  JEAN IVORY : What is the difference between a Reverse Mortgage and an Equity Loan?

12:23:21     From  Steve Gurney - ProAging Community   to   Hosts and panelists : PATTI FARRELL



SINCE 2003


Reverse Mortgage Funding LLC

Direct: (443) 992-6231



12:23:28     From  Judy Probber : Judy, retiree. don't have a lot of cash flow and want to explore options for unanticipated expenses.

12:23:56     From  Patti Farrell : Patti Farrell RMF ( Reverse Mortgage Funding) since 2003 offered local education about the FHA HECM here for any questions pfarrell@reversefunding.com  443-992-6231 In Maryland and surrounding states Thanks Steve

12:25:25     From  Tom Di Leo   to   Hosts and panelists : Tom Di Leo Mutual of Omaha. I am in California contact me at tdileo@mutualmortgage.com or cell phone 562-547-4311

12:25:48     From  Steve Gurney - ProAging Community : From Tom Di Leo to All Panelists 12:25 PM

Tom Di Leo Mutual of Omaha. I am in California contact me at tdileo@mutualmortgage.com or cell phone 562-547-4311

12:27:21     From  Pam Ostrowski : Does it matter if I start the Reverse Mortgage at the time I buy the home or wait until a few years later, when I might need the money more?

12:27:21     From  Mary JANE Barney-Butler : What about a disabled adult child?

12:29:16     From  Marjorie Fox : A HECM LOC grows over time. Is that feature at risk of being eliminated?

12:29:31     From  Tom Di Leo   to   Hosts and panelists : We do Reverse For Purchase Loans. Mutual of Omaha is the largest Reverse for purchase lender in the US

12:29:34     From  Judy Probber   to   Hosts and panelists : Please clarify. Can I trade in my traditional mortgage for a  reverse mortgage?

12:30:11     From  Belinda Ragin   to   Hosts and panelists : If an eligible home owner takes out a reverse mortgage would the family have to pay it back after the owner dies in order to keep the home?

12:31:52     From  Patti Farrell : 2014 and updated in 2021

12:34:42     From  Patti Farrell : HUD issues mortgagee letters that explain rules .for NBS ( non borrowing spouse) .  Lenders can share.

12:36:19     From  Mary JANE Barney-Butler : So can a person conceivably outlive the actual valus e

12:36:33     From  Mary JANE Barney-Butler : oops value of the home?

12:38:18     From  Jessica Lamer : Roughly what are the upfront costs to refinancing into a reverse mortgage? Thousands?

12:41:26     From  Patti Farrell : FHA HECM only reverse currently able to be used in MD.

12:43:56     From  Steve Gurney - ProAging Community : Reverse Mortgages: How to use Reverse Mortgages to Secure Your Retirement (The Retirement Researcher Guide Series) https://www.amazon.com/Reverse-Mortgages-Secure-Retirement-Researcher/dp/194564012X/ref=pd_lpo_1?pd_rd_i=194564012X&psc=1

12:49:59     From  Steve Gurney - ProAging Community : Retirement Planning Guidebook: Navigating the Important Decisions for Retirement Success (The Retirement Researcher's Guide)https://www.amazon.com/dp/194564009X/ref=redir_mobile_desktop?_encoding=UTF8&aaxitk=252ec44cd62c85c39ed32c44165937b6&content-id=amzn1.sym.53aae2ac-0129-49a5-9c09-6530a9e11786:amzn1.sym.53aae2ac-0129-49a5-9c09-6530a9e11786&hsa_cr_id=9005480900401&pd_rd_plhdr=t&pd_rd_r=e2eceb6e-0bef-491f-a899-1fd7350ceed9&pd_rd_w=RxZ4U&pd_rd_wg=H1Ec8&qid=1664383773&ref_=sbx_be_s_sparkle_mcd_asin_0_title&sr=1-1-a094db1c-5033-42c6-82a2-587d01f975e8

12:53:12     From  Pam Ostrowski   to   Hosts and panelists : When copying links, you can leave off anything after the ?

12:54:39     From  Steve Gurney - ProAging Community : https://www.retirementlivingsourcebook.com/videos/gray-divorce

12:54:54     From  Shirley Snowden   to   Hosts and panelists : Hello - Can the presentation be sent to us?  Thank you.

12:55:08     From  Wade D. Pfau, PhD, CFA, RICP : https://www.amazon.com/dp/194564009X/  - Retirement Planning Guidebook

12:55:24     From  Shirley Snowden   to   Hosts and panelists : Thank you very much!

12:55:37     From  Mary JANE Barney-Butler : Have to go would love to get anything he shares! Great presentation! Thank you!!! MJBB

12:56:07     From  Pam Ostrowski : This was fantastic! THANK YOU!

12:56:24     From  Patti Farrell : Thank you Wade..

12:57:06     From  Shirley Snowden : Great Session!  Thanks!

12:57:07     From  Elizabeth Singleton : Thank you, Wade, and Steve, for this opportunity to learn more.

12:59:15     From  Pam Ostrowski : Maybe Wade could come back and go through his slide  deck? :)

13:00:29     From  Pam Ostrowski : What is Wade's contact info?

13:01:09     From  Wade D. Pfau, PhD, CFA, RICP : wade@retirementresearcher.com

13:01:52     From  Pam Ostrowski : Thanks again!


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