A reverse mortgage is a loan that allows individuals older than 62 to improve their financial well-being. They can convert part of their home equity into lump sum cash, fixed monthly payments, or line of credit, according to their preference. The money can be used to pay for medical bills, in emergencies, or to pay off a mortgage. Here’s what you should know about reverse mortgages in case you’re looking for one.

How much can you borrow?
For reverse mortgages, the loan amount can’t exceed the value of the property against which it is borrowed. Federal regulations require lenders to ensure that the loan amount doesn’t exceed the value of the house by structuring the transactions accordingly. Additionally, these regulations state that the owner/borrower is not liable to pay off the balance amount in case it exceeds the property value.

How are reverse mortgages paid for?
A reverse mortgage is payable when the borrower sells the house, relocates permanently, or dies. Unlike forward mortgages, reverse mortgages don’t need the borrower to make any monthly payments. They are only liable to pay interest on the money received, which is rolled back into the loan balance. While the owner gets to keep the title to the home, their home equity reduces over the loan tenure.

Who can take a reverse mortgage?
This type of loan is ideal for seniors and retirees whose net worth comes mostly from the value of their home. Seniors who don’t qualify for a home equity loan or can’t refinance due to limited cash flow or poor credit can opt for reverse mortgages. Home Equity Conversion Mortgage (HECM) for purchase is a reverse mortgage that allows seniors to buy another property. That said, it is complex, and you should study the risk factors before getting one.

What are the risks associated with reverse mortgages?
Reverse mortgage scams are not unheard of. Unreputable vendors could offer to help seniors secure reverse mortgages by undertaking house repairs. They don’t provide quality results and get away with the homeowner’s money instead. For spouses living together in a home with only one spouse named as a borrower on a reverse mortgage, the other spouse can lose the home if the borrowing spouse dies first. Besides, reverse mortgage lenders charge fees and closing costs and may also charge mortgage insurance premiums for federally-insured HECMs.

A reverse mortgage is a type of loan that allows homeowners to receive payments on their house as opposed to them making payments to the lender. At first glance, this option seems too good to be true. But, before committing to it, there are some nitty-gritty details that people must consider when opting for this type of financing. So, here is some information regarding the pros and cons to consider when getting a reverse mortgage.

Advantages

• Multiple options of disbursement
  One of the biggest advantages of opting for reverse mortgages is that you can choose your payment method: whether it is in the form of monthly payouts, or receiving it in bulk.
• You retain ownership of your home
  As opposed to other mortgages where you have to vacate your house, in a reverse mortgage, you can continue to own and live in your house without any interruptions. It is a great way to improve your immediate finances and is preferable to moving or selling the property.
• No tax liability
  The payments that you receive as a part of a reverse mortgage are not considered to be taxable by the IRS since it is considered to be a loan advance instead of taxable income.
• Retirement safety
  These mortgages are actually a great option for retired and senior citizens, since it allows them to have access to funds, which might otherwise be stuck in the form of a fixed asset like a house or a property.

Disadvantages

• The property must be occupied
  For properties that have been reverse mortgaged, it is important that it remains occupied at all times. Lenders visit the houses from time to time to verify that the house is occupied throughout the year.
• Risk of foreclosure
  If you fail to pay your property taxes, HOA fees, homeowners insurance payments, and other costs on time, your house is at a risk of being foreclosed for violation of tax laws.
• High fees
  When signing up for a reverse mortgage, information you must know is that there are several expenses involved in completing the entire procedure, which may include the mortgage fees, FHA insurance charges, as well as closing costs.
• Accumulation of interest
  Since there is no monthly payment plan or schedule involved in a reverse mortgage, the amount that you borrow incurs interest over time. As a result of this, one needs to be careful to not default on any payment to avoid accumulating further debt.

Dental hygiene is of utmost importance and the services of a dentist do not come cheap. You might be in for a shock when you make a payment at the dentist for regular cleaning services. If you fear surprises at the time of paying your bill at the dentist, a comprehensive dental insurance could be your best bet. It will cover a wide range of services and allow you to enjoy a full coverage insurance plan with no waiting period.

Dental insurance coverage
A full coverage dental insurance includes three levels of coverage. These are preventive, minor, and major. It will cover the dental treatments at all levels and is not restricted to the preventive services. The comprehensive coverage will include cleanings, filling, fluoride treatment, root canal, X-ray, denture repair, and bridgework.

No waiting period
It is possible for you to obtain dental coverage without any waiting period. If you need a dental treatment in the near future, you need a plan that is effective immediately. It does not make sense for you to buy a plan that has a waiting period. A full coverage dental insurance medicare plan with zero waiting period means that you will be able to make the most of the plan with immediate effect, without any waiting period for the services. This includes the major dental procedures as well. There are many other plans, which would require a waiting period of one year. But if you are going to need dental services soon, opt for a plan that has no waiting period to avoid the hassle of financing dental work.

A full coverage dental insurance medicare plan is of utmost importance for individuals of every age. It can significantly reduce your out of pocket expenses and make it easier to go through a major dental procedure smoothly. The plan has been designed to meet the comprehensive needs of the patients and will include a wide range of services.

When you are looking for insurance plans, keep your priorities in mind. Do not compromise on the services in order to save a small amount. The cost of a dental treatment might burn a hole in your pocket if you do not have a comprehensive plan. A full coverage plan is a safe bet and it includes an array of services that you will require in the future. With a zero waiting period, the plan could be a convenient and cost-effective deal for you.

It is important for every individual to invest in a dental insurance plan so as to avoid the expense after visiting a dentist for a treatment. Dental treatment is not cheap and with an insurance plan, you will be able to cover for the cost associated with the same. At the age of 65, you may sign up for Medicare, but it does not cover dental care or dental treatment. This means you will have to incur the cost out of your pocket.

With the best dental plans for seniors, you may enjoy a comprehensive coverage in one policy. There are some procedures that you will receive for free and there are a few where you will have to share the expense with the insurance company. A dental insurance usually covers for cleanings and routine checkups.

Discussed below are the top three dental plans for seniors:

DentalPlans.com
They offer a dental savings plan which is like a membership in a club. You will have to pay annual fees to be a part of the club and the plans offer various benefits, which are usually not a part of the traditional insurance plans. There is no paperwork and no annual caps with these plans. There are more than 30 plans available from brands that you may trust. The plans cover more than 100,000 dentists across the nation and they provide services at reduced fees.

Spirit Dental & Vision
You may choose from a wide range of plans that are priced anywhere between $36 to $74 per month. The total annual benefit may range from $1,200 to $5,000. Backed by Ameritas Life Insurance Corp, they offer some of the best dental plans for seniors. Also, they offer plans that are specially curated for two people, which implies that you do not have to spend a hefty sum on a family plan.

iDental
With numerous dental plans for seniors, this insurance provider offers a lot to choose from. Their plans are affordable and their annual fees are as low as $99 for one individual. They charge a small processing fee as well and are known for the discounted plans that they provide.

Investing in a dental insurance plan is an important decision. Consider the coverage offered by the insurance provider and choose the one that fits your requirements and offers a comprehensive coverage, even if it costs slightly on the higher side as compared to the other plans.

Here’s an astonishing statistic: nearly 15% of our country’s population that needed dental attention between 2013 and 2016 refused to pay a visit to the dentist mainly due to financial constraints. The top reasons were either affordability or missing insurance coverage. Today, fortunately, there are quite a few pocket-friendly dental insurance options. Here’s a quick look at the five best dental insurance providers that you can consider.

Cigna 
With its vast network of nearly 95,000 dentists nationwide, Cigna had to feature on this list. They offer three different plans, and for those who choose the “Cigna Dental Preventative,” there are no copays and no deductibles for preventive care within the network of dentists. Orthodontic and restorative care is also covered in some of their policies. Additionally, support is available to customers 24/7 every day of the year, a crucial factor that makes it one of the best dental insurance providers.

Renaissance Dental 
Renaissance Dental is a shining example of an insurance provider with excellent customer service. It is a well-known name in the dental insurance space, and the company has a far-reaching network of 300,000+ dentists in 50 states across the country. They provide different coverage levels depending on the needs of your family. You can also choose a plan by requesting a free quote online. However, only some of their preventative plans cover care at 100%, and they have a cap of $1,000 on benefits. They also have a deductible of $50 for individuals and $150 for families.

Spirit Dental 
Spirit Dental’s offering is simple. There is no waiting period for any of their plans, and you do not have to pay a deductible every year (the case with most insurance providers). You only have to pay the $100 once. Additionally, the plans cover preventive care at 100% and include three cleanings, two annual exams, and even orthodontic care for kids.

Humana Dental 
Much like its name, Humana offers various plans depending on each customer’s unique requirements. They charge both lifetime and annual deductibles but provide coverage for preventative care at 100%. But again, many of their plans do not cover significant changes. The best part about the plans of this dental insurance provider is their low starting price. Note that their maximum benefits start at $1,000 and can be unlimited, too, depending on the plan you choose.

UnitedHealthOne
A part of the Fortune 500 company UnitedHealth Group, UnitedHealthOne is another popular dental insurance provider. They offer plans with different coverage levels, no deductibles, no waiting period, no age limits, and preventative care. But the coverage changes depending on the tier of the plan you select. But rest assured that any package from this highly-rated company is worth considering.

If you are looking for an auto insurance policy in Texas, it is essential to compare quotes from different companies so as to make a wise decision. Choosing the first company that comes along is not the best way of buying an auto insurance. There are a number of companies that will offer insurance services and you need to compare the features and the cost of the same before zeroing in on one. Auto insurance quotes in Texas are easily available online and have a simple and transparent procedure.

Some of the most preferred car insurance companies in Texas are listed below:

• Texas Farm Bureau
  As one of the cheapest insurance providers in Texas, they offer a general quote as well as an accurate quote based on your requirements. All you need to do is fill up the online form to get a quote and you may decide from there.
• GEICO
  You may get your free car insurance quote from GEICO, which is known for offering the most competitive rates for insurance. You will be required to provide your personal details online and also provide additional information about the car and the garage, based on which you will receive a quote.
• Progressive
  Millions of drivers trust Progressive auto insurance quotes in Texas. Known for offering the best value for the insurance, Progressive offers a comprehensive coverage and also allows you to customize a plan as per your needs. They have a range of plans you may choose from.
• State Farm
  State Farm offers you and your family the best auto insurance at a great value. You may get the quote online and compare the same. They have more than 18,000 agents across the nation who help you get the best auto insurance quote in Texas.

As mentioned above, there is no denying the fact that it is important to compare quotes before making a decision. You need to choose a comprehensive plan which allows you to customize the same. It does not make sense to choose a lower-priced plan which offers basic coverage. Even if the insurance cover costs more, but has a comprehensive and detailed coverage option, it is best to opt for it.

Consider your preferences and needs before you choose a plan. Always keep in mind that the plan will protect you and your car on multiple occasions. So, the coverage should be your priority and not the cost.

Free grants are also known as scholarships which are given to individuals to help them fund their education and training. These scholarships are offered by schools, foundations, as well as not-for-profit organizations. Such grants are given to students who are excellent in academics or in athletics.

Types of free grants
In most cases, the grant money may be used for the purpose of payment for tuition and for books. However, there is another grant which is known as a Pell grant. It is given by the government to those students who come from a very low-income background. The grant is totally based on the amount of income the student and his/her family earns.

There are many other free grants which include funding for infrastructure, housing, economic development, research, redevelopment, and community development. These grants have a strong positive impact on the community. There are some grants which do not have any restrictions while there are many which have restrictions. In case you are working on a project which falls within the guidelines of the grant, you are eligible to apply for free grants.

What does a free grant cover?
You might have a large funding requirement, but a free grant will only cover a portion of the project. Some grants cover about 10 to 20 percent of the project cost whereas there are some that may cover the entire cost. You need to understand what the grant will cover before you apply for free grants. The one good thing that you must keep in mind is that a free grant is not supposed to be paid back.

How do you apply for free grants?
There is a simple and straightforward procedure to apply for a grant. Begin with deciding the kind of grant you want. You may then fill up the online form, providing personal details followed by the type of funding you would like to have. Next, furnish the reason for your funding requirement and share details about the same. Whatever the purpose of the grant, you need to describe in detail as to how you will use the money. The purpose of the application is very important. Unless you are very clear about why you need the grant, you may not be able to get an approval for the same.

Once you submit the online application form, the authorities will go through your case and decide whether to approve or decline your application.

The full retirement age is the age when an individual becomes entitled to receive unreduced retirement benefits. It is also known as ‘normal retirement age’. No matter what the retirement age is, you can start receiving retirement benefits from the early age of 62, or even as late as 70.

Ithe n case of early retirement
It is possible for you to retire between age 62 and the full retirement age. If the benefits have started early, they will be decreased by a margin of a percent for every month before your full retirement age. To understand how it works, you need to take a look at the full retirement age chart. The chart shows the reduction amount assuming the monthly benefit of $1000 at full retirement age. Based on your year of birth, you can determine the benefit and the amount of reduction in case you retire between 62 and the full retirement age.

You can use the full retirement age chart to make an informed decision. You need to consider the benefits that might be available to you if you retire at the age of 62 or later. Keeping the same in mind, you can make a decision on when you wish to stop working.

Advantages and disadvantages of early retirement
There are pros and cons of taking the benefits before the full retirement age. When you retire early, you get the benefits for a longer period of time. The disadvantage is that your benefit is reduced with passing time. However, with every individual, the situation varies.

You should remember that if you avoid the benefits until you reach the full retirement age, you may be entitled to delayed retirement credits. This would increase the amount of monthly benefits you receive. There are multiple factors you need to consider when you make a decision about retirement and you need to keep all of them in mind and not just the benefit amount. You may choose to contact Social Security before you decide to retire or you could make use of the full retirement chart for the same.

Retirement is an important decision and you need to keep your personal goals in mind. The decision should not be driven by the amount you will receive in the form of benefits. The decision should be based on numerous others factors, like your willingness or ability to work, other financial commitments, health-related issues, etc.