Jim Mahoney, CEO of the nation’s largest reverse mortgage lender, Financial Freedom Senior Funding Corp., answers questions seniors have about reverse mortgages in an interview with NewRetirement.com.
In an interview published today on NewRetirement.com, Jim Mahoney, the CEO of Financial Freedom Senior Funding Corp., responds to senior homeowners’ top questions about reverse mortgage loans. Mahoney’s answers reflect years of expertise developed while running Financial Freedom. The company has provided more reverse mortgages to retirees than any other lender in the nation.
Many visitors to NewRetirement.com, an education and advocacy site, are seniors looking for reverse mortgage information. Frequently, they call or email with questions about reverse-mortgages. On behalf of these retirees, NewRetirement.com invited industry pioneer and expert Jim Mahoney to answer several of the most frequently asked questions. These questions range from the straightforward, “what is a reverse mortgage,” to the hopeful, “how much money can I get,” to the concerned, “what happens when I pass my home to my heirs?” In his responses, Mahoney addresses what he considers to be a few ‘myths’ about reverse mortgages, including the common but mistaken belief that you hand over the title to your home in exchange for a reverse home mortgage. Not so, according to Mahoney.
The interview with Mahoney is located on NewRetirement.com’s website in their Reverse Mortgage article under the heading: “Interview with Industry Pioneer.” The Reverse Mortgage article is found in their Retirement Services section.
In addition to other information, the Reverse Mortgage article includes a reverse mortgage calculator. The calculator provides an estimate of what size loan a senior could receive under different reverse mortgage products. The products shown include the HECM (Home Equity Conversion Mortgage), the Fannie Mae HomeKeeper®, and the Cash Account™ (a Jumbo Reverse Mortgage). The calculator lists the payout options for each, compared side by side.
With more than just an analysis of the advantages and disadvantages of a reverse mortgage, the NewRetirement website covers a variety of other retirement planning financial services and products: mortgage refinancing, debt consolidation, annuities, relocation, financial advisors, supplemental health care insurance and long term care insurance.
NewRetirement.com also offers a proprietary data analysis engine, presented in the form of a retirement calculator. This free retirement calculator interactively responds to visitors’ input with customized presentation of financial planning options matched to their specific situation. A user can save their data to continue working at another time, or return to update it once their situation has changed. For example, they can calculate how much longer their retirement income might last after securing a reverse mortgage.
About NewRetirement LLC.
NewRetirement LLC was founded in 2004. NewRetirement’s management team consists of people with experience and education from several nationally known organizations. Among these companies are: Charles Schwab, JP Morgan, Embark.com, Wells Fargo, E-Trade, The Princeton Review, BusinessWire, AllAdvantage.com, Insurance.com, Viant Consulting, Williams Sonoma, Seer Technologies (IBM/First Boston), and US Web, among many others. The team includes graduates from: Stanford' s Graduate School of Business Administration, the University of Michigan' s Graduate School of Business Administration, Boston University, Haverford College, Carnegie Mellon and several others.
NewRetirement.com's corporate headquarters is located at 625 Market Street, Suite 1600, San Francisco, California 94105. Paul Lowrey, Director of Marketing, can be reached at 415-738-2435. Email inquires email should be sent via the site’s Contact Us page. The website URL is www.newretirement.com.
