Advantages and Disadvantages of a Reverse Mortgage
September 19, 2017

Advantages and Disadvantages of a Reverse Mortgage

A Home Equity Conversion Mortgage (HECM), also known as 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 […]

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 […]

Deciding If a Reverse Mortgage is Right for You
June 15, 2017

Deciding If a Reverse Mortgage is Right for You

Reverse mortgages can be confusing, so it’s important to be informed and separate fact from fiction. Invite your family to be part of the process as well, so that everyone is on the same page. “Many senior homeowners who could truly benefit from a reverse mortgage have been discouraged from even looking into one by […]

What is the Role of Children in the Reverse Mortgage Process?
June 7, 2017

What is the Role of Children in the Reverse Mortgage Process?

Including your children in the decision to get a reverse mortgage is a key part of the process. Laurie Goodman, co-director of the Housing Finance Policy Center at DC’s Urban Institute, emphasized the importance of what she describes as intergenerational communication and collaboration. While it’s nice to leave something to your children, Goodman suspects that […]

Can You Stop a Reverse Mortgage?
May 23, 2017

Can You Stop a Reverse Mortgage?

Entering into a reverse mortgage is a big decision. It’s important to do your research and seek the advice of a financial advisor. One question that tends to be top of mind when entering into a reverse mortgage is whether the reverse mortgage can be stopped once papers are signed. Can you stop a reverse […]