Jack Guttentag
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Life annuities and HECM reverse mortgages as tools for protecting retireesJan 23, 2016 12:00 am - My article last week discussed the longevity annuity as a tool to protect retirees who are heavily dependent on a stock of financial assets against the risk of running o...
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The role of the longevity annuityJan 15, 2016 11:00 pm - Retirees are becoming a larger part of the population while their capacity to fund retirement comfortably has been declining. The population 65 and older, which now numb...
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'The Big Short' reinforces a widespread misperceptionJan 08, 2016 11:00 pm - The highly rated movie "The Big Short" is about a few sharp operators who saw the financial crisis coming and decided to profit from their insight by shorting the privat...
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Borrowers pay the piper for lender misdeedsDec 11, 2015 11:00 pm - Q. I have been turned down by two different lenders because my last year's tax return didn't show enough income from my business to qualify, despite a credit score of 80...
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Homeownership is not for everyoneNov 21, 2015 4:00 am - Some people are not cut out for homeownership. I call them NoHos. What distinguishes them is not their income, their family structure, their mobility, or where they live...
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Selecting the best type of HECM reverse mortgageNov 01, 2015 10:00 pm - The HECM reverse mortgage is a beautifully designed financial instrument that can meet a wide variety of senior needs. Unfortunately, HECMs offer so many options that se...
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Simple interest mortgages are not for the undisciplinedOct 24, 2015 1:00 am - Q. I represent a couple facing the foreclosure of their home. My clients' loan is currently being calculated as a daily simple interest loan which is causing them to be ...
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Is a HELOC better than a HECM?Oct 17, 2015 1:00 am - Where they overlap in meeting the needs of consumers, I could find only one situation where the HELOC might work better than a HECM. In all other situations where both c...
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How do you shop for a HELOC?Oct 10, 2015 1:00 am - Q. Do I shop for a HELOC in the same way as I would shop for another mortgage? A. No, shopping for a HELOC is very different from shopping for a standard mortgage. If yo...
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Questions about down payment requirementsSep 19, 2015 12:00 am - Q. Are there any substitutes for a down payment? A. In principle, any collateral acceptable to the lender could serve as a substitute for a down payment. The only such ...