Home Equity for Senior Homeowners Grows by $162 Billion in Q2
October 18, 2017

Home Equity for Senior Homeowners Grows by $162 Billion in Q2

Homeowners age 62 and older saw an increase in home equity of 2.4% in the second quarter of 2017 for a combined total of $162 billion.1 According to the proprietary index, developed by NRMLA and RiskSpan in 2000, the driving factor of the increase in equity appears to be home values. The index, which takes […]

Is a Reverse Mortgage Government Funded?
October 10, 2017

Is a Reverse Mortgage Government Funded?

As many senior homeowners are aware, The Department of Housing and Urban Development (HUD), recently announced changes which will affect the Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. These announcements may have caused some confusion with seniors wondering, is a reverse mortgage government funded? Reverse Mortgages are Federally Insured The short […]

Choosing the Right Reverse Mortgage
September 26, 2017

Choosing the Right Reverse Mortgage

One of the most challenging aspects of getting a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is identifying which product configuration and interest rate type best meets your needs. What many borrowers may not realize is that there are over a dozen different ways to configure a reverse mortgage. Depending on […]

Advantages and Disadvantages of a Reverse Mortgage
September 19, 2017

Advantages and Disadvantages of a Reverse Mortgage

A reverse mortgage, can be a valuable retirement planning tool. This type of mortgage allows homeowners 62+ years old to convert a portion of their home equity into usable funds without having to repay the loan for as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider […]

What Influences Reverse Mortgage Interest Rates
September 12, 2017

What Influences Reverse Mortgage Interest Rates

Generally, when considering a loan of any kind, one of the first pieces of information considered is the interest rate as it affects the funds available to you and the amount you will repay. In this respect, a Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is no different than other types […]

HUD Announces Big Reverse Mortgage Changes
September 6, 2017

HUD Announces Big Reverse Mortgage Changes

On Tuesday, August 29th 2017, the US Department of Housing and Urban Development (HUD) announced some changes that will have a large impact on senior homeowners interested in tapping into the equity in their homes through the use of a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. The Federal Housing Administration […]

How Reverse Mortgage Interest Rates Affect Your Loan Options
August 28, 2017

How Reverse Mortgage Interest Rates Affect Your Loan Options

Generally, when considering a loan of any kind, one of the first pieces of information considered is the interest rate as it affects the funds available to you and the amount you will repay. In this respect, a Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is no different than other types […]

Get a Reverse Mortgage Before You Need It
August 1, 2017

Get a Reverse Mortgage Before You Need It

For a long time, reverse mortgages have been negatively perceived as a last resort for people who are strapped for cash in retirement. Another common misconception is that a reverse mortgage is like selling your home to the bank. However, these perceptions are far from true. Not only do homeowners retain the title on their […]

Reverse Mortgage: An All-Purpose Retirement Planning Tool?
July 11, 2017

Reverse Mortgage: An All-Purpose Retirement Planning Tool?

For senior homeowners who have accrued home equity, a reverse mortgage provides access to cash. Plain and simple. There are a range of reasons why a homeowner might want to access the money in their home. However, real estate is not typically a liquid asset. You cannot simply sell your home to access the funds, […]

Enjoy Your Life After Retirement
June 30, 2017

Enjoy Your Life After Retirement

You’ve worked for much of your life. Now it’s time to focus on fulfilling your retirement goals; however, if you are on a fixed income and concerned about finances, a rewarding retirement can be tricky. If you would like to live retirement to the fullest, but financial worries are holding you back, a reverse mortgage […]