Reverse Mortgages Can Be a Valuable Retirement Tool

(NewsUSA) – This article is a paid advertisement. The content was provided by One Reverse Mortgage. Today’s reverse mortgage has more uses than you may realize. In fact, many financial advisors are now recommending this loan to their older clients. Why? A reverse mortgage allows you to access a portion of your home equity and use the funds to pay off your current mortgage.* Any remaining money can be used for anything. The program has a variety of products to meet specific goals. The fixed rate loan allows you to receive a lump sum or monthly distributions. The purchase loan product allows you to purchase a home without a required monthly mortgage payment as long as you live there.* However, according to One Reverse Mortgage, a leading lender in the reverse mortgage industry since 2007, the most popular and beneficial loan option is the line of credit, which has the potential to grow in value over time. It’s a fact that people today are living longer; and studies show that many are not financially prepared for retirement. According to an article from Time Magazine, one in three Americans does not have any money saved for retirement.** The reverse mortgage line of credit addresses these concerns. It isn’t just for people who have an immediate need. It is even more beneficial as a retirement tool because the line of credit product can actually extend the life of your retirement savings and give you access to more money later. Another smart way to utilize it is to live off the proceeds to delay using other benefits to give them time to increase in value. The greatest feature of the reverse mortgage line of credit is that the available funds increase in value over time when left untouched. It can be a perfect safety net for future expenses – both planned and unexpected. The mission of One Reverse Mortgage is to educate people about this program and how it can be best used in retirement. The experts at One Reverse Mortgage are licensed professionals and the company operates nationwide. It also has an A+ rating with the Better Business Bureau. For more information, visit www.onereversemortgage.com * Homeowner is still responsible for taxes, insurance and property maintenance. **Kirkham, Elyssa. “1 in 3 Americans Has Saved $0 for Retirement.” Time Magazine. 14 March 2016. http://time.com/money/4258451/retirement-savings-survey Equal Housing Lender. Listed in all 50 states. One Reverse Mortgage NMLS #2052 These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Local News

The Conrady Junior High School seventh-grade choir sings holiday songs before the beginning of the Hills Chamber's Christmas Party and "State of the Cities" addresses Tuesday night at the Hickory Hills Community Center. (Photos by Joe Boyle)

Palos Hills, Hickory Hills mayors optimistic about business growth

By Joe Boyle The mayors of Palos Hills and Hickory Hills said the emergence of new businesses and programs are an indication that both communities are looking forward to better days. Palos Hills Mayor Gerald Bennett and Hickory Hills Mayor Mike Howley both presented their “State of the Cities” addresses Tuesday night at the Hickory…

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Tri-State Tollway lane closures Friday night over I-55

Overnight lane closures are scheduled this weekend for concrete work on the northbound Tri-State Tollway (I-294) over I-55. Traffic delays are expected. Beginning at 8 p.m. on tonight, December 9, and continuing until noon on Saturday, December 10, traffic on northbound I-294 between 75th Street and Joliet Road, traffic will be reduced to a single lane.…

Bourbons Smokehouse will hold a grand opening on Friday at Sheep's Food District in Orland Hills. (Photo by Bob Bong)

Comings & Goings: Grand opening today for Bourbons Smokehouse at Sheep’s Food District

By Bob Bong Sheep’s Food District in Orland Park may have something for everyone under one roof. Sheep’s is affiliated with the White Sheep, a breakfast and lunch restaurant at 14435 S. LaGrange Road in Orland Park. But while The White Sheep is open only for breakfast and lunch and closes daily at 3 p.m.,…

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Man charged in fatal Oak Lawn shooting outside hospital

By Bob Bong Oak Lawn police say a fatal shooting outside of Advocate Christ Medical Center early Saturday morning stemmed from an earlier double homicide near 87th and Green streets. Marques Rose, 36, of the 8100 block of South Winchester in Chicago, has been charged with one count of first-degree murder for the shooting death…

Orland Park Mayor Keith Pekau sounds off Monday night about what he liked and didn't like about changes to the SAFE-T Act. (Photo by Jeff Vorva)

Pekau has mixed reactions to SAFE-T Act changes

By Jeff Vorva In response to criticism during the election campaign, the Illinois General Assembly has made some changes to the SAFE-T Act. Orland Park Mayor Keith Pekau, one of the act’s harshest critics, is not completely satisfied. Pekau has voiced criticism of the law, especially its no bail provision that kicks in on January…

Palos Heights Mayor Bob Straz encourages the city to build a wall honoring volunteers during Tuesday night's council meeting. (Photo by Jeff Vorva)

Palos Heights council talks wall of tributes

By Jeff Vorva Tributes were the talk on Tuesday. The Palos Heights City Council meeting featured a discussion on building a wall to honor volunteers in town and kicked ideas around to honor former aldermen Dolores Kramarski, who died in November, and Alan Fulkerson, who died in 2020. The council unanimously voted to foot a…

John Mahoney is not seeking re-election as the mayor of Palos Park. (Photos by Jeff Vorva)

Mahoney not running for Palos Park mayor; Milovich-Walters throws hat in the ring

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Clear-Ridge Reporter and NewsHound December 7, 2022

Mary Stanek

Restaurant wall comes alive with art

By Mary Stanek Your correspondent in Archer Heights and West Elsdon 3808 W. 57th Place • (773) 284-7394 Soar up high with the beauty and grace of a butterfly–Unknown author. My favorite watering hole in years past, Andy’s, at 57th Place and Pulaski, has been a restaurant now for a few years. I recently noticed…

Peggy Zabicki

Something to be truly thankful for

By Peggy Zabicki Your correspondent in West Lawn 3633 W. 60th Place • (773) 504-9327 Thank you, one and all, for the texts and calls. I wasn’t feeling well last week and couldn’t write my column. I didn’t have COVID-19. I had that before there were vaccines for it. For me, COVID-19 was no big deal. On my worst day…

Neighbors

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The Conrady Junior High School seventh-grade choir sings holiday songs before the beginning of the Hills Chamber's Christmas Party and "State of the Cities" addresses Tuesday night at the Hickory Hills Community Center. (Photos by Joe Boyle)

Palos Hills, Hickory Hills mayors optimistic about business growth

By Joe Boyle The mayors of Palos Hills and Hickory Hills said the emergence of new businesses and programs are an indication that both communities are looking forward to better days. Palos Hills Mayor Gerald Bennett and Hickory Hills Mayor Mike Howley both presented their “State of the Cities” addresses Tuesday night at the Hickory…

IllinoisTollwayLogo_HiRes

Tri-State Tollway lane closures Friday night over I-55

Overnight lane closures are scheduled this weekend for concrete work on the northbound Tri-State Tollway (I-294) over I-55. Traffic delays are expected. Beginning at 8 p.m. on tonight, December 9, and continuing until noon on Saturday, December 10, traffic on northbound I-294 between 75th Street and Joliet Road, traffic will be reduced to a single lane.…

Bourbons Smokehouse will hold a grand opening on Friday at Sheep's Food District in Orland Hills. (Photo by Bob Bong)

Comings & Goings: Grand opening today for Bourbons Smokehouse at Sheep’s Food District

By Bob Bong Sheep’s Food District in Orland Park may have something for everyone under one roof. Sheep’s is affiliated with the White Sheep, a breakfast and lunch restaurant at 14435 S. LaGrange Road in Orland Park. But while The White Sheep is open only for breakfast and lunch and closes daily at 3 p.m.,…

reporter oak lawn police logo

Man charged in fatal Oak Lawn shooting outside hospital

By Bob Bong Oak Lawn police say a fatal shooting outside of Advocate Christ Medical Center early Saturday morning stemmed from an earlier double homicide near 87th and Green streets. Marques Rose, 36, of the 8100 block of South Winchester in Chicago, has been charged with one count of first-degree murder for the shooting death…

Orland Park Mayor Keith Pekau sounds off Monday night about what he liked and didn't like about changes to the SAFE-T Act. (Photo by Jeff Vorva)

Pekau has mixed reactions to SAFE-T Act changes

By Jeff Vorva In response to criticism during the election campaign, the Illinois General Assembly has made some changes to the SAFE-T Act. Orland Park Mayor Keith Pekau, one of the act’s harshest critics, is not completely satisfied. Pekau has voiced criticism of the law, especially its no bail provision that kicks in on January…

Palos Heights Mayor Bob Straz encourages the city to build a wall honoring volunteers during Tuesday night's council meeting. (Photo by Jeff Vorva)

Palos Heights council talks wall of tributes

By Jeff Vorva Tributes were the talk on Tuesday. The Palos Heights City Council meeting featured a discussion on building a wall to honor volunteers in town and kicked ideas around to honor former aldermen Dolores Kramarski, who died in November, and Alan Fulkerson, who died in 2020. The council unanimously voted to foot a…

John Mahoney is not seeking re-election as the mayor of Palos Park. (Photos by Jeff Vorva)

Mahoney not running for Palos Park mayor; Milovich-Walters throws hat in the ring

By Jeff Vorva Palos Park will have a new mayor in 2023. John Mahoney will end his 16-year tenure as mayor next year after he announced this week that he will not run for a fifth term. “Every time you run for office you think about it,” the 60-year-old Mahoney said about leaving the post.…

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Clear-Ridge Reporter and NewsHound December 7, 2022

Mary Stanek

Restaurant wall comes alive with art

By Mary Stanek Your correspondent in Archer Heights and West Elsdon 3808 W. 57th Place • (773) 284-7394 Soar up high with the beauty and grace of a butterfly–Unknown author. My favorite watering hole in years past, Andy’s, at 57th Place and Pulaski, has been a restaurant now for a few years. I recently noticed…

Peggy Zabicki

Something to be truly thankful for

By Peggy Zabicki Your correspondent in West Lawn 3633 W. 60th Place • (773) 504-9327 Thank you, one and all, for the texts and calls. I wasn’t feeling well last week and couldn’t write my column. I didn’t have COVID-19. I had that before there were vaccines for it. For me, COVID-19 was no big deal. On my worst day…

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