Personal Development Goals
Bedrooms Designed for Aging in Place
Furniture
Kitchens Designed for Aging in Place
Lighting and Light Switches
Assisting With Functional Mobility
Bath and Shower Mobility Aids
Bedroom Mobility Aids
Assisting with Personal Grooming and Hygiene
Caring for Someone With Incontinence
Helping People To Cope with Alzheimer’s and Dementia
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Offering Companionship
Providing Medication Reminders
Providing Transportation
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Canes
Chair Lifts / Stair Lifts
Grab Bars
Knee Scooters / Knee Walkers
Ramps
Scooters
Transfer belts / pads / equipment
Walkers and Rollaters
Wheelchairs and Mobile Chairs
Accounting and Tax
Books-Seminars-Courses
ASSISTED LIVING
Assisted Living Facilities
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Multigenerational HouseholdsReverse Mortgages – A Primer
A so-called “reverse mortgage” is a special type of home loan that allows borrowers to convert a portion of the equity in their home into cash and then not have to make ongoing monthly payments on the loan. Reverse mortgages are generally available only to borrowers who are at least 62 years old. People use money borrowed under reverse mortgages to supplement retirement income, pay off an existing “forward” mortgage, meet medical expenses, make home improvements, and for a myriad of other purposes.
Reverse mortgages are widely misunderstood, but if you have cash needs, one might make sense for you. You should evaluate the suitability of a reverse mortgage for you based on a number of factors which are subjective and specific to your circumstances and needs.
- STRONGARM DIFFERENCE: The StrongArm Comfort Cane offers an innovative patented design that shifts the weight from your wrist to the forearm providing optimal stability, support and comfort as you walk. StrongArm supports the strength of your body to dramatically improve your posture, help you move easier, all without the stain & pain you feel from the average walking cane. The revolutionary handle encourages you to walk upright and change your line of sight so that you look forward instead of do
- STABILITY: StrongArm offers a cushioned, forearm-bracing "cradle" that stabilizes the wrist, making the cane feel like a solid extension of the arm. When standing from a seated position the cane helps provide added support so you can easily stand up on your own. The unique offset bend within the design centers the hand grip over floor tip for maximum stability. The cane tip has a hexagonal base to improve traction on all surfaces.
- SUPPORT: StrongArm Cane was designed to improve the lives of everyday cane users. StrongArm has a one-of-a-kind handle that provides a comfortable and supportive forearm brace. Making this cane safer, sturdier, and more supportive over the standard walking cane. This cane bridges the gap between canes and crutches, making it the perfect hybrid walking stick. While StrongArm provides the same support & stability of a crutch, you gain the mobility of a cane without the strain on your wrists.
- QUALITY: Made from high-quality light-weight aluminum tubing making it lightweight and portable. Equipped with a thick comfortable foam grip & cradle sleeve. StrongArm has 12 different height adjustments which is perfect for both men and women so you can customize the height to fit your comfort needs. The cane currently comes in 3 colors; Black, Bronze, and Titanium. The StrongArm Cane holds upto 500 lbs of pressure.
- MEDICAL GRADE: Medical professionals and everyday cane users agree that the StrongArm Comfort Cane offers vital improvements in stability over traditional canes and crutches. Giving you the freedom and support to do more throughout the day! This cane is universal so you can use it either on the left or right hand or even use two canes at the same time for extra support.
All Terrain KneeRover Steerable Knee Scooter Knee Walker Heavy Duty Crutches Alternative in Blue
- Padded Contoured Comfortable Knee Platform with Easy Folding Mechanism. The handlebars are made of comfort foam 7/8 inches steel
- 12″ x 8″ x 8.5″ Wire Basket is included for convenient storage and transport of your personal belongings
- Leg Compatibility: Left and Right. Knee Rest: 3″ Contoured Molded Foam
- Accommodates patient heights 5′6" – 6’6″
- 3″ Contoured Knee Support Adjusted Height Range: 18″ – 21.5″. Handlebar Adjusted Height Range: 34″ – 41″
Campbell Posture Cane Foldable Walking Cane for Men and Women – FSA/HSA Eligible – Editorial Recommended
- LIGHTWEIGHT AND STRONG: The Campbell Posture Cane is light weight and sturdy that makes it easy to carry with you. Made with high-quality material, this innovative mobility device is designed to serve you for years to come.
- 10 DIFFERENT HEIGHT ADJUSTMENTS: 10 different height adjustments to customize the fit. Stand-up Self standing for easy reach. stability tip with 360° traction rings.
- COMFORTABLE TO WALK: The revolutionary ergonomic grip handle design eliminates downward pressure, making it more comfortable for the shoulder and wrist so when you walk. Feel more independent as this cane also helps you easily get up and out of chairs.
- REVOLUTIONARY CAMPBELL HANDLE: Revolutionary handle helps you to walk upright and changes your line of sight, so you look forward instead of down. Revolutionary handle takes the pressure off your shoulder and wrist.
- WALK UPRIGHT AND CHANGE YOUR LINE OF SIGHT: It helps look forward instead of down changing your line of sight, which helps balance and mobility. It supports the strength of your body to help you move easier and feel more confident when walking.
Carex Folding Walker for Seniors – Adult Walker – Portable Medical Walker with Adjustable Height, 30-37 Inches
- FOLDING WALKER. An adult walker that easily folds for transportation. Simply press on the two buttons and the walker folds up nicely. Walker is very sturdy, stable, and safe, made of 1 inch round aluminum construction. Supports a 300lb person.
- HEIGHT ADJUSTABLE WALKER. A walker for seniors that is height adjustable. Marked peg holes allow the walker to be adjusted from 30-37 inches in height. Simply push the adjustment buttons in and slide the aluminum walker tubes up or down.
- LIGHTWEIGHT WALKER. The mobility walker is very light and maneuverable and has sides that detach for storing in tight spaces. Walker only weighs 6 pounds.
- ADD WHEELS and make this walker a rolling walker with wheels. Wheel attachment sold separately. Wheels are perfect for the elderly, seniors, or handicap with problems lifting the weight of the walker. Walker glides can also be added to the bottom of this walker.
- TRUST CAREX, a leader in walkers for seniors and walkers for elderly. Carex Health Brands has been the branded leader in rollators, walkers, and adult mobility walkers for over 35 years.
Drive Medical Nitro DLX Euro Style Walker Rollator, Champagne
- Attractive, euro-style design; 10 inch front casters allow excellent steering and rolling comfort
- Easily folds with one hand to ultra-compact size for storage; cross-brace design allows for side-to-side folding and added stability
- Durable and comfortable firm seat separates allowing unit to fold
- Handsome and removable deluxe zippered storage bag with unique attachment to keep bag securely in place when nitro is open or folded
- Overall dimensions: 28 inch(l) x 24 inch(w) x 33.5 inch(h); seat dimensions: 10.75 inch(d) x 18 inch(w) x 20 inch(h); handle height: 33.5 inch-38.5 inch; weight capacity: 300 lbs
- Back support height easily adjusts with tool-free thumb screw
- Caster fork design enhances turning radius
- Attractive, euro-style design; 10 inch front casters allow excellent steering and rolling comfort^Easily folds with one hand to ultra-compact size for storage; cross-brace design allows for side-to-side folding and added stability^Durable and comfortable firm seat separates allowing unit to fold^Handsome and removable deluxe zippered storage bag with unique attachment to keep bag securely in place when nitro is open or folded^Overall dimensions: 28 inch(l) x 24 inch(w) x 33.5 inch(h); seat dimensions: 10.75 inch(d) x 18 inch(w) x 20 inch(h); handle height: 33.5 inch-38.5 inch; weight capacity: 300 lbs
Drive Medical Scout Spitfire 4 Wheel Travel Power Scooter
- Quick and easy disassembly; Interchangeable color panels hide scuffs and scratches
- Height-adjustable swivel seat with fold-down backrest; Armrests are padded and adjustable; Comes with large plastic carry basket
- Delta tiller is easy to adjust; Ergonomic throttle control with easy freewheel operation. Comes with easy to remove, quick connect battery pack that can be charged separately from the scooter
- Includes battery and charger, flat-free, non-marking tires with anti-tip wheels
- Seat Width: 16.5"; Max Speed: 4.25 mph; Climbing Angle: 6 degrees; Maximum Range: 9 miles; Motor: 24V x 270W x 4700rpm; Turning Radius: 53.75"; Ground Clearance: 2.5"; Weight Capacity: 300 lbs
EagleHealth Toilet-to-Tub Sliding Bench 77993 XXL
- Toilet-to-Tub Sliding Transfer Bench (77993) makes transferring from toilet to tub easier, safer
- CutOut for personal cleaning. Seat slides, locks at each end. Tool-free assembly. Height adjustable
- Base Length: 64.5"-65.5" (XXL). Specs below. Assemble to face either right or left. Armrests #71002
- Middle legs installed anywhere along rails. Other lengths: EagleHealth #77963 (Long) & #77983 (XL)
- This Hygiene Product is NON-RETURNABLE once opened. Please measure your tub and bathroom carefully.
Harmar Outdoor Stair lift 350-OD
- Header cover, internal chassis cover and a large weatherproof cover included
- Rocker controls with constant-pressure functionality stop the lift immediately if the control is released
- Mounts to the stairs (not the wall) on either side of staircase Operates on standard 115 VAC household current
- Extruded aluminum track is available in custom lengths. Seat and footrest fold to save space
- Upholstery Colors: Light Almond, Evergreen, Mocha - **This product will be custom cut to fit your staircase. Because this is a "Custom Made" product - it is NOT returnable. **Please provide the following Information - length of staircase (see images), mounted on the left or right as you look UP the steps, any obstructions at top or bottom, landing, hallway or door at the top of the steps?
Healthline Compact Trigger Release 350 lbs Folding Walker with 5″ Wheels and Fold-up Legs, Lightweight & Portable – w/Bonus 2 Pairs of Glides
- [ANTI-CRACK & EASY TRIGGER RELEASE] can be reached with hands of all sizes, allows users to close the walker without removing hands from the handle, ideal for individuals with limited finger dexterity, ensures convenience, safety and durability.
- [1/2 THE SIZE OF TRADITIONAL WALKER WHEN FOLDED] tool-free assembly walker with strong elastic cords in back two legs, so legs can be folded, compact for transport and storage, can be easily put into medium/large suitcases, trunk, cabinet... ideal for travelling.
- [STURDY CONSTRUCTION & COMFORT HAND GRIPS] 1.13" diameter anodized, extruded aluminum construction ensures maximum strength and safety, supports up to 350lbs. And the textured rubber hand grips provides for a secure, nonslip grip while reducing hand pressure.
- [GET 2 MORE PAIRS BONUS GLIDES, WORKS ON MOST TERRAINS] comes with 5 inch front wheels and 3 pairs of back glider caps (1 ski gliders included) to allow user to move and slide walker easily and smoothly over most surfaces.
- [FDA CE APPROVED WALKER, 100% AUTHENTICITY GUARANTEE] 30 days free money back guarantee, 60-day unconditional return policy and 5-year limited warranty. Great gift for Thanks Giving Day, Christmas Day, please rest assured to buy!
HEALTHLINE Junior Folding Walker with Wheels, Lightweight Deluxe 2 Button Folding Walker with 5-inch Wheels, Adjustable Medical Pediatric Small Aluminum Front Wheeled Walker for Seniors & Children
- COMPACT 2 WHEELED WALKER. This "junior" sized front wheel walker comes with specially designed hand grips for user comfort and safety. The lightweight folding walker with wheels is designed with a comfy two button folding walker mechanism and is easy to operate.
- TALL AND SHORT PEOPLE COMPATIBLE Front wheel walker for seniors can be used by both short and tall people, as it is a height adjustable walker. Great rolling walkers for seniors, lightweight walker for adults, elderly, and medical walker for disabled.
- DELUXE WALKER WITH 5 INCH WHEELS. The front wheeled walker for Juniors and Seniors comes with 5-inch wheels in front and back glider caps for ease and comfort of movement. The U-shaped frame gives extra clearance, enabling the patient to bring the wheeled walker closer to assist in standing.
- STURDY AND LIGHTWEIGHT FOLDING WALKER WITH WHEELS. This walker is made of sturdy anodized, extruded aluminum. It is a lightweight walker and quickly folds into a sleek shape. This aluminum walker very easily folds for storage or travel.
- SLIP-FREE GRIPS This front wheeled walker has rubberized, ribbed grips on both sides to keep you safe and keep your hands from slipping. Specifications: Overall bottom outside front width including wheels 22’’ Highest height (floor to handles) 32.5’’ Shortest height setting (from floor to handles) 25.5” Width between handles 17” Front width from inside wheel to wheel 18” Outside bottom back width 22.5” Inside bottom back width 19.5” 250 lbs weight capacity "Junior" Size
HOMCOM Rolling Shower Wheelchair Bath Toilet Commode Bariatric with 24″ Wheels
- MULTI-USE MOBILITY: Ideal for the elderly or disabled to assist in mobility and transportation throughout a house or hospital. Focusing on comfort, this chair makes showering and self-care more accessible.
- SHOWER ACCESSIBLE: This FDA certified commode chair features a PU covered surface and aluminum alloy construction making it easy to wheel under a shower. With four waterproof castors and brakes, showering can be safe and hassle-free for anyone.
- LARGE DETACHABLE BUCKET: Unlike others with a rounded bucket, our upgraded version is equipped with a large rectangle bucket with lid under the seat which can be easily removed for cleaning.
- EXTRA COMFORT: This medical shower chair with arms comes with a convenient flip away footrest for added comfort. The armrests and seat are padded for added comfort
- LARGE REAR WHEELS: 2 14" large rear wheels allow the user to move themselves around easily with a hand-brake to control the speed and stop as they may like.
How Reverse Mortgages Work
In a traditional mortgage loan, the lender advances a large sum of money upfront that the borrower uses to buy a home or refinance an existing home loan. The borrower then pays the mortgage loan down over time with monthly payments. The traditional (“forward”) mortgage loan balance starts out large and is paid down over time.
In a reverse mortgage, the borrower already owns the home, and owes very little or nothing on it. Under the terms of the reverse mortgage, the borrower will receive some combination of upfront and/or ongoing monthly (or periodic) payments from the lender. The reverse mortgage loan balance starts low and grows larger over time.
Depending on the design of the reverse mortgage, the lender may pay you a (smaller) lump sum amount upfront, and then continue to pay you monthly amounts thereafter. The size of your upfront and monthly payments will depend on the value of your home, the age of the youngest co-borrower, the rate at which interest accrues on the loan, any mortgage insurance premiums that accrue[1], an assessment of your ability to pay ongoing taxes and insurance, and other features of the reverse mortgage product you choose.
The money you get upfront and/or monthly is usually tax-free and generally will not affect your Social Security or Medicare benefits. When the last surviving borrower (or non-borrower spouse) dies, sells the home, or has no longer lived in the home as a principal residence for more than 12 months, the reverse mortgage loan has to be repaid. Sometimes that means selling the home to get money to repay the loan. In certain loan programs, a non-borrowing spouse may be able to remain in the home, as long as they went to counseling and have agreed to the loan terms.
Reverse mortgage lenders generally charge an upfront origination fee and other closing costs, and some charge servicing fees over the life of the mortgage. For FHA insured reverse mortgage loans, they also collect both upfront and ongoing mortgage insurance premiums.
The rate used to accrue interest on reverse mortgages generally can be fixed or variable, but is usually variable.[2] This means the rate is tied to a designated financial index and will change as the market level of that financial index goes up and down. Interest and MIP on your reverse mortgage is not deductible on your income tax returns until the year it is paid – usually when you pay off all or a portion of the loan.
[1] Jumbo reverses mortgages (those with balance limits in excess of the FHA lending limit of $636,150) do not have mortgage insurance premiums.
[2]Jumbo reverse mortgages are fixed rate.
Variable Rate Loans
Variable rate loans generally provide more options on the timing and magnitude of amounts paid to you through the reverse mortgage. Fixed rate reverse mortgages are less flexible, tending to require you to take your loan as a lump sum at closing. The total amount you can borrow with a fixed rate loan is generally less than the amount you could get with a variable rate reverse mortgage loan.
You Keep Your Title
As with other types of mortgage loans, you keep the title to your home. You are still responsible for paying property taxes, insurance, utilities, fuel, maintenance, homeowner’s association (HOA) fees, and other expenses. If you fail to pay your property taxes or homeowner’s insurance premium in a timely manner, or fail to maintain your home, the lender may declare you in default on your loan and require you to repay it in full or they will foreclose.
Life Expectancy Set Aside Amount
Your lender will assess your financial condition when you apply for the mortgage. Based on this assessment, the lender may require a “Life Expectancy Set-Aside” amount to pay your property taxes, homeowner’s insurance premiums, HOA fees, and flood insurance premiums (if any) during the term of the loan. The lender will hold the set-aside amounts in escrow and use them to pay your taxes and insurance as they come due. The set-aside amount reduces the funds you receive upfront and/or in your monthly payments. You are still responsible for maintaining your home.
3M Littmann Cardiology IV Diagnostic Stethoscope, Black-Finish Chest Piece, Black Tube, Stem and Headset, 27 Inch, 6163
- Diagnose and make decisions with confidence
- Hear subtle changes in patient status
- Useful in critical care and challenging environments such as the ED, ICU, Cardiac ICU, step down unit and other dynamic locations
- Ergonomic and high profile construction; 40 percentage larger chest Piece and 60 percentage deeper bell than the 3M Littmann Classic III Stethoscope
Tena Maximum Absorbency Incontinence Underwear for Women, S/M, 80 Count
- ConfioAir 100% Breathable Technology to help maintain your skins natural balance
- Proskin Underwear provides heavy leakage incontinence protection, with a comfortable design
- Effective leakage and odor protection plus super-absorbent polymers help lock away moisture
- The soft curved leg elastics ensure a secure and comfortable fit - Ideal for everyday use
- A comfortable small/medium waist 34" - 44"
Freedom 31 in. x 60 in. x 77-1/2 in. Barrier Free Roll-In Shower Kit in White with Right Drain
- Roll in barrier free shower base for easy wheelchair entry and exit
- Textured slip resistant grip sure floor
- Steel and wood reinforced walls, no drywall needed
- Attach accessories anywhere to fit anyone’s needs-exact placement of accessories for any size person
- Shower door friendly opening
- Easy to clean premium marine grade gel coat fiberglass
- Self-supporting pre-leveled base-no mud set required
- Right hand side drain position
- Available in 4 sizes: 48 in. x 36 in., 60 in. x 30 in., 60 in. x 33 in. and 60 in. x 36 in.
- Included: collapsible white rubber dam with end caps
- Included: 2 in. chrome shower floor drain with friction seal
- Included: three 16 in. curved, polished chrome grab bars and one 2-in-1 shower diverter grab bar
- 30-year limited lifetime warranty (on shower panel
EMPOWER YOUR CHANGE Ostomy Shower Guard Size: S, M, L, XL & Custom-Size
- The Ostomy Shower Guard will prevent 98% of the ostomy bag, the skin barrier from getting soaking wet, by encasing the ostomy bag and covering the middle abdominal to the pelvis region.
- The Ostomy Shower Guard designed as a unisex product, made of durable TPU material.
- There is an open pouch in the middle, where you place your ostomy bag inside the shower guard, to prevent from getting soaking wet.
- It’s recommended to double strap around the abdominal to become more water resistant.
- X-Large size 47-61 inches. If around your abdominal past 61 inches, then purchase the custom-size and send us your measurements.
TheraBand FlexBar Relieve Tendonitis Pain
- TheraBand FlexBar Green is ideal for those suffering from tennis elbow pain, looking to increase flexibility and range of motion, and to strengthen the elbow, wrist, forearm, and hand
- Clinically researched and proven to reduce elbow pain by 81% and increase strength in the tendons by 72% in tennis elbow patients, Tyler Twist with FlexBar is simple and works
- Ridged design is easy to grip and twist for elbow, wrist, forearm and hand rehabilitation and strengthening, lateral epicondylitis therapy, great for musicians, painters and gardeners
- FlexBar is portable and convenient exercise, rehab, and injury prevention equipment, packaging includes detailed exercise instructions
- 12" long, 1 3/4" diameter, made from dry natural rubber, takes 15 pounds of force to bend to a U-shape
HEALTHLINE Junior Folding Walker with Wheels, Lightweight Deluxe 2 Button Folding Walker with 5-inch Wheels, Adjustable Medical Pediatric Small Aluminum Front Wheeled Walker for Seniors & Children
- COMPACT 2 WHEELED WALKER. This "junior" sized front wheel walker comes with specially designed hand grips for user comfort and safety. The lightweight folding walker with wheels is designed with a comfy two button folding walker mechanism and is easy to operate.
- TALL AND SHORT PEOPLE COMPATIBLE Front wheel walker for seniors can be used by both short and tall people, as it is a height adjustable walker. Great rolling walkers for seniors, lightweight walker for adults, elderly, and medical walker for disabled.
- DELUXE WALKER WITH 5 INCH WHEELS. The front wheeled walker for Juniors and Seniors comes with 5-inch wheels in front and back glider caps for ease and comfort of movement. The U-shaped frame gives extra clearance, enabling the patient to bring the wheeled walker closer to assist in standing.
- STURDY AND LIGHTWEIGHT FOLDING WALKER WITH WHEELS. This walker is made of sturdy anodized, extruded aluminum. It is a lightweight walker and quickly folds into a sleek shape. This aluminum walker very easily folds for storage or travel.
- SLIP-FREE GRIPS This front wheeled walker has rubberized, ribbed grips on both sides to keep you safe and keep your hands from slipping. Specifications: Overall bottom outside front width including wheels 22’’ Highest height (floor to handles) 32.5’’ Shortest height setting (from floor to handles) 25.5” Width between handles 17” Front width from inside wheel to wheel 18” Outside bottom back width 22.5” Inside bottom back width 19.5” 250 lbs weight capacity "Junior" Size
Quicken Premier Personal Finance – (Windows/Mac Disc) – 14-Month Subscription 2020 + TurboTax Premier + State 2019 Tax Software [Amazon Exclusive] [PC Download]
- Includes everything in Quicken Deluxe Plus many more investing features
- Simplify your taxes and investments
- Pay any bill directly in Quicken for free, Plus priority access to Official Quicken customer support (a $49 value)
- TurboTax Premier + State is recommended if you sold stocks, bonds, mutual funds or options for an employee stock purchase plan, own rental property or you are the beneficiary of an estate or trust (received a K 1 form)
- With Premier, retirement tax help and the IRA tool show you how to get more money back this year and when you retire. Keep more of your investment and rental income. Get your taxes done right and tailored to you, based on your unique situation.
- MAXIMUM TAX REFUND - Searches for more than 350+ tax deductions and credits, including mortgage interest, property taxes and energy-efficient improvements, to get you everything you deserve
What Happens If You Die?
If you signed as a borrower on the loan and your spouse did not[3], the rights of your spouse to stay in the home are dependent on the category of the loans and the lender’s terms. With FHA insured reverse mortgages (called HECM[4] loans), your spouse may continue to live in the home even after you die if he or she pays the property taxes, insurance, and HOA fees, and continues to maintain the property. But your spouse will stop getting money from the undrawn portion of the HECM loan since he or she wasn’t part of the loan agreement. With loans not insured by the FHA (proprietary loans), when you die, your spouse or estate may be required to pay off the loan, which may require selling the property. You need to clearly understand the offered terms before you take out the loan
[3] Even though your spouse is not an obligor on the loan, he or she will still have paperwork to sign in order for you to be able to get the loan.
[4] HECM is an acronym for Home Equity Conversion Mortgage . . . HECMs are federally-insured reverse mortgages that are backed by the U. S. Department of Housing and Urban Development (HUD).
You or your heirs do not have to be pay off the loan until the home is sold (unless a default occurs). The loan is repaid from the proceeds of the property sale. Any remaining equity in the home after the loan has been repaid belongs to you, your surviving spouse, or your heirs.
Depending on how long you live and the rates at which interest and mortgage insurance premiums accrue on your loan, the accumulating amount owed to the lender on a reverse mortgage loan can come close to, or even exceed, the value of your home. This means that little or no equity could be left for you, your surviving spouse, or your heirs. However, FHA insured reverse mortgages have in them what is known as a “non-recourse” clause. This means that you, or your estate, cannot owe more than the value of your home when the loan becomes due and the home is sold. FHA insurance is used to pay any difference.
Generally, with a HECM, if you or your heirs want to pay off the loan and keep the home rather than sell it, you or they would not have to pay more than the appraised value of the home, and in some cases no more than 95% of the appraised value
Reverse Mortgage Loan Options
Categories
When considering whether a reverse mortgage is right for you, be aware that there are three general categories with differing features, benefits and costs. Depending on your circumstances, one category may meet your needs better than the others.
Home Equity Conversion Mortgages (HECMs)
Most reverse mortgage loans are categorized as Home Equity Conversion Mortgages (HECMs). These loans are insured by the FHA, and borrowers are charged a mortgage insurance premium (MIP). They are limited in size to $636,150. Proceeds may be used for any purpose, except making certain investments. These loans have caps on origination fees, and borrowers are not charged monthly servicing fees. Borrowers and non-borrowing spouses must attend HECM counseling. Even though non-borrowing spouses are not obligated on the loan, they are required to sign documents indicating that they understand the terms of the loan. Non-borrowing spouses do retain rights of survivorship in the home after the borrowing spouse dies, meaning they can continue living in the home.
Proprietary Reverse Mortgages
Reverse mortgages in excess of HECM lending limits are called jumbo loans and are categorized as proprietary reverse mortgages offered by private lenders. There is no mortgage insurance on these loans, and borrowers are thus not charged MIPs. Loan proceeds may be used for any purpose. These loans have no caps on origination fees, and the lender may charge borrowers monthly fees for loan servicing. Borrowers and non-borrowing spouses may or may not need to attend pre-loan counseling, depending upon the lender’s program. Non-borrowing spouses are not obligated on the loan, and they may not be required to sign documents indicating that they understand the terms of the loan. Non-borrowing spouses may or may not retain rights of survivorship in the home after the borrowing spouse dies. You should carefully study each lender’s program terms.
Single Purpose Reverse Mortgages
Single purpose reverse mortgages are the least expensive option, and programs vary. They are offered by some state and local government agencies, as well as non-profit organizations. You may use proceeds from these loans only for program-designated purposes, such as to pay for home repairs, improvements, or property taxes. Homeowners with low or moderate incomes may qualify for these loans. Terms and requirements vary by program, and you should study them carefully.
Disbursement Options
Reverse mortgage lenders generally offer a choice of several disbursement options. For fixed interest rate reverse mortgages, your choice will likely be limited to a single lump sum disbursement plan whereby you will receive the amount at the close of the loan. A single disbursement option typically offers less money than other reverse mortgage disbursement plan options because of first year principal limitations[5] and the fact that you do not benefit from increases in the value of your home.
[5] This amount is called your “initial principal limit.” Your lender will calculate how much you can borrow, based on your age, the interest rate, the value of your home, and your financial assessment.
- ZERO IMPACT EXERCISE: Ideal for all fitness levels, the comfortable and naturally-reclined seated position reduces body fatigue and eliminates the stress on the joints and back while still delivering a full fat-burning cardio workout.
- WHISPER-QUIET, FLUID STRIDE: The unique striding motion protects your knees and joints while engaging near-silent variable magnetic resistance that adjusts with one simple dial.
- TOTAL BODY WORKOUT: Dual power motion works your upper and lower body simultaneously, engaging all major muscle groups to build strength and burn more calories. Modify the workout by isolating your legs or arms for added intensity.
- SMART DESIGN: Track progress with the easy-to-read, battery-powered digital console; device stand and water bottle holder; convenient transport wheels.
- COMMERCIAL-GRADE ENGINEERING: Friction-free linkage system means long-lasting use; 54" x 38" footprint is a low profile addition to your home.
33″ Long Dressing Stick with Shoe Horn with Sock Removal Tool, Adjustable Extended Dressing Aids for Shoes, Socks, Shirts and Pants
- Multi-function - Medical Supply Dressing Stick with Shoe Horn with Sock and shoe Remover Tool;Extended Reach Assist.Extendable dressing aid with shoe horn makes getting dressed easier from head to toe. Shoe horn on one end helps guide your heel into shoes, boots and slippers, saving you from bending and reaching. Opposite end features dressing hooks that help you pull on socks, shoes, pants and tops without straining.Easy-to-use sock assist tool makes dressing easier. Versatile design is ideal for
- Easily detaches for travel - Uniquely Design Separating into three short pieces;33inch Long enough; the detachable shoe horn easily fits in a handbag, carry on or tote for use while traveling and for compact storage.
- Durable Construction - Sturdy fiber-reinforced ABS plastic, the JJDPARTS detachable shoe horn is exceptionally durable and easy to clean. Each edge has a smooth rounded finish to prevent snags and tears in socks and to prevent scuffed shoes.
- Ideal For - Dressing sticks are often recommended by therapists and other health care professionals for users who have difficulty reaching, limited mobility. This simple tool can make life a little easier when it comes to dressing. The Dressing Stick helps users with arthritis to perform a variety of tasks.
- Lifetime Guarantee - Lifetime guarantee so you can purchase now with confidence
399 Games, Puzzles & Trivia Challenges Specially Designed to Keep Your Brain Young.
AmazonBasics Yoga Blocks, Set of 2
- Set of 2 yoga blocks help promote better balance, proper alignment, and deeper poses
- Made of durable, high-density foam for reliable support and long-lasting performance
- Slip-resistant surface help ensure a secure hold; round edges for a comfortable, steady grip
- Lightweight and modular; use separately or stacked together in a variety of configurations
- Large enough to comfortably sit on; measure 4 by 9 by 6 inches each (LxWxH)
BUNMO Adaptive Utensils for Elderly/Arthritis/Weak Hand Grip & Handicapped – Convenient Travel Pouch
- LARGE EASY-GRIP HANDLES: Our light weighted foam grip handles are designed for maximum hold
- SUPPORTIVE UTENSILS – Specially designed assistive devices. Great as elderly & handicap utensils
- CONVENIENT FOUR-PIECE SET: Tablespoon, teaspoon, rocker knife and fork. Perfect arthritis aids
- PREMIUM STAINLESS STEEL: BunMo Adaptive Silverware is made of high quality rustproof stainless steel
- SHARP KITCHEN KNIFE: Original curved design, sharp and meets the standards of adaptive equipment
Burn-FIX- 4 Pack-Burn Gel Dressing 4″ X 4″ Burn Care-First Aid Treatment. Immediate Pain Relief Burn Cream- Hydrogel For 1st, 2nd Degree Burns, Chemical, Razor and Sunburns. For Home, Work, Fire, EMS.
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For adjustable interest rate mortgages, you will likely be able to select one of the five disbursement plans. The five plans are referred to as 1) Tenure, 2) Term, 3) Line of Credit, 4) Modified Tenure, and 5) Modified Term. You may be able to change your payment option for a small fee, as long as you have not drawn all of your funds already.
HECMs generally give you larger loan advance rates against the value of your home than proprietary loans[6]. The interest rate on HECM loans is generally lower, but you have to pay MIP amounts that you will not have to pay on proprietary loans. In the HECM program, a borrower is generally allowed to live temporarily in another residence (such as a nursing home) for up to 12 consecutive months without triggering a requirement to pay off the loan. You must continue to pay property taxes, insurance, and HOA fees while you have the loan, and you must continue to maintain your home, even if you are temporarily residing elsewhere
[6] The higher HECM advance rate means that a HECM loan is likely a better choice for borrowers who are seeking maximum loan proceeds and whose homes are worth more than the FHA lending limit of $636,150 but less than about $1,000,000. After that, borrowers will likely qualify for a larger loan under a proprietary program than the HECM program. Note that HECM loan rates are lower than those of proprietary loans, but also require MIP payments. If you have a high value loan, you or your accountant will need to study the competing costs and terms; your HECM counselor can help as well.
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Amount You Can Borrow
The amount you can borrow with a reverse mortgage depends on several factors, including:
- The lesser of the appraised value, purchase price of your home, or the FHA mortgage limit of the HECM lending program
- The age of the youngest borrower or eligible non-borrowing spouse
- Expected interest rate at the time of origination
- An assessment of your willingness and ability to pay property taxes, homeowner’s insurance, and HOA fees as they come due
- The disbursement option and type of reverse mortgage you select.
In general, the older you are, the more equity you have in your home, and the lower the absolute amount you owe, the more money you can obtain. If there is a non-borrowing spouse, his or her age is taken into account due to rights of survivorship under the HECM program. If there is more than one borrower and no eligible non-borrowing spouse, the lender will use the age of the youngest borrower to determine the maximum loan amount.
Costs Involved
Like forward mortgages, reverse mortgages can have high levels of fees and charges. Upfront origination fees are capped by HUD for HECM loans; proprietary loans generally do not have such caps.
You can finance most of the upfront costs of your reverse mortgage, paying them from the proceeds of the loan. The benefit of this is that you do not have to pay for them out of your pocket. The drawbacks are:
- You are still incurring the costs and effectively reducing the net loan amount available to you
- You will accrue interest and MIP on the higher balance
If you pay the upfront MIP out of pocket, the amount paid may be tax deductible for you in the year paid.
The charges and fees for HECM loans are described in greater detail below. Other reverse mortgage programs may include other categories of charges and fees, and the fees may be higher or lower. You should carefully consider any charges and fees you will incur when deciding whether to obtain a reverse mortgage loan, as well as the category of loan and lender.
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