Senior Housing and Assisted Living

It’s never been a better time to refinance your Florida home. With a myriad of options available and interest rates at an all time low, closing costs can be quickly recovered by lower monthly mortgage payments. If you’ve been thinking of refinancing but waiting for the right time, now is the time to act.

Whether you are looking to lower your monthly mortgage payment, take out additional equity from your home, or make those home repairs you’ve been dreaming about for years, now may be the time. Interest rates will not be staying low for ever, so make sure you act before it is too late.

Seniors in particular have some very attractive options. If you are 62 or older and have significant equity in your home, you may be eligible for a reverse mortgage. These flexible loan programs have seen a sudden drop in closing costs in recent months and their interest rates are at an all-time low. There are no credit or income requirements associated with these loans, so even if you have bad credit, you may still be eligible for a reverse mortgage.

One aspect of reverse mortgages that is particularly unique is that they can eliminate monthly mortgage payments. As long as you stay in your home, and pay your taxes and homeowners insurance, your loan will not be payable. This is a very attractive option for seniors who are on a limited budget.

Another important aspect of reverse mortgages is that you can never owe more than your home is worth. The non-recourse nature of these loans means that if your property value declines below the value of the home, you are not required to pay the difference. This means you don’t ever have to worry about leaving a debt to your heirs. If you die and the loan balance exceeds the value of the home, your heirs can simply satisfy the loan obligation by turning the home over to the bank. Of course, they can also choose to repay the loan or refinance it with a regular mortgage if they’d like.

Reverse mortgages come in all shapes and sizes. You can choose to receive your funds in a variety of ways. For example, you can receive a lump sum distribution, a line of credit or a series of equal monthly payments for the remainder of your life. Or, alternatively, you can choose some combination of these options. Also, what you use the proceeds for is completely up to you. You can buy a new car, fix up your home or even take that vacation you’ve always dreamed of.

It doesn’t matter if you’re 62 and older and looking to increase your monthly income or just a typical home borrower looking to lower their monthly mortgage payments. Now is a great time to refinance your home. Despite the down economy, you should investigate your financing choices. This decision could end up saving you an unbelievable amount of money in future years. Make sure you investigate your financing options before this amazing environment of low interest rates disappears.

Looking for more information on a reverse mortgage lump sum or refinance mortgage company? Then make sure to check out Tim Begert’s online resources.

The guide to living cheap does not mean sacrifice. If you think you do not have enough money to retire…stop a minute. Here are four different lifestyles which has kept the writer and wife retired for 15 years. They are not only cheap they are fun as well…you can do this too.

1) Living on a sailboat in the Caribbean. We lived the life Jimmy Buffett sings about for eight wonderful years. Up and down the island chain from Venezuela to the Virgin Islands. Cheap…we averaged spending $1,000 a month when in the islands. Remember there is no charge for dropping your anchor in a beautiful bay. Ashore in the hotels they were paying $500 and up per night…we had a better view.

2) Full time RV is a great frugal retirement lifestyle. If you enjoy traveling without the hassle of packing and unpacking, give it a try. Monthly rent was around $450…pretty cheap including utilities. We used the RV as a means of finding a permanent retirement home. You can enjoy this fun, frugal retirement lifestyle too.

3) Live Overseas…we did for eight years. It is fun, cheap, safe and interesting. Currently one million Americans are living in Mexico. You can live very well here for $1500 to $2000 a month…including a maid…and health insurance which is $270 a year. You are three times more likely to a victim of violent crime in Mexico vs the US. Jimmy Buffett is right folks…changes in latitude changes in attitude.

4) Downsizing…when we moved from a 1800 square foot home to a 35 foot sailboat…about 50 square feet of space where you can stand up. You quickly find out that you can do without 98% of your stuff…and that is conservative. Downsizing from a big house to a condo is a piece of cake.

Yes you can still retire. We have done so for 15 years…having fun with no regrets. You can too…armed with the right information. You need the guide to living cheap. Interested?

Need to learn more from the guide to living cheap? For more information on fun and frugal ways to retire visit frugal retirement living. Do not quit on retirement until you check it out. Visit the Uber Article Directory to get a totally unique version of this article for reprint.

If you say I am retiring early to get away from work…be careful. Retire to something not away from work…there is a difference in the two approaches.

It is easy to say I am going to do nothing when I retire. You will find if you do your retirement will be no different from work. Without firm, well thought out goals, you soon become bored and frustrated.

I suggest making up two lists. Make sure your spouse does the same…two lists. One will be of things you never want to do again…the other what you want to do in retirement. The first list may refer to no more shoveling snow…the second might be to lower your golf handicap ( be specific, how much lower). Why should both of you make lists? It is much better to discover the differences in what you both want now than later. You may be greatly surprised by the two lists.

Laying on the couch may be your idea of retirement…but you realize that is unhealthy. One of your retirement goals…this applies to every one…is to be retired and healthy for a long time.

Your lists need to be specific. Be honest with yourself. If you never want to rake leaves again, a big house and yard in the Midwest is not for you. If you want to sail year round San Diego may be better than Omaha.

The more focused and clear your goals are the better. For instance learning to speak French as a goal is too broad. Instead stay I will be able to speak passable French 6 months after I retire. Then it is OK to go buy the language software.

Do not just look at early retirement planning from the money side…you will not be happy if you do. You will not hear of making lists of your retirement goals from your financial planner. That is not his or her job…that is your responsibility.

I have been retired 15 years. My lists of goals and never agains are 20 years old. Take a look they may get you started on your lists.

To find out what was on the authors lists for early retirement planning. If you are contemplating retirement, but do not believe you can afford it you need frugal retirement living. Do not give up on retirement before going to this site.