Wealth

Managing, maintaining and accumulating wealth are important topics for seniors. Never have there been so many financial instruments and alternatives for investing and spending money. At Simply Seniors, we discuss money, business, legal and just about any type of financial topic. Whether it's figuring out the mystery behind the peculiarly named reverse mortgage or having a will prepared by an online legal service, we want to discuss it. We investigate and share our findings with you.

LegalZoom

What can an Online Legal Service do for me?

Most of us equate lawyers with unusual circumstances--criminal events and disruptive life situations--and tend to avoid securing the services of such legal professionals until our particular need can no longer be avoided. Then, with dollar-signs dancing in our heads, the dreaded contact is made and a resolution to our problem is pursued through the courts.

The true is, for most seniors, the need for legal assistance falls most often in the realm of administrative type actions--securing property, personal rights and inheritances. These types of legal needs are now, and have been, covered comprehensively through an online legal service: www.legalzoom.com

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Reverse Mortgages

Why is this Home Mortgage so Popular with Seniors?

Requirements:

Own a home
Be 62 years of age
have enough equity

You may have heard the phrase, "reverse mortgage," used at some time by friends, family, former co-workers or your financial advisors. Seemingly straightforward, the phrase denotes a unique type of homeowner's loan that has become increasingly popular among seniors. So popular, in fact, that the National Reverse Mortgage Lenders Association (NRMLA) reported a growth of 77% in reverse mortgage loans for 2006.

Simply put, a reverse mortgage is a loan that allows homeowners, 62 or older, to borrow against the equity in their home�without having to take on new monthly mortgage payments, give up title to, or sell their homes.