Best Reverse Mortgage Companies
October 17, 2019

Best Reverse Mortgage Companies

A reverse mortgage loan can provide security for seniors who have sufficient equity in their homes. The funds from a reverse mortgage can be used to supplement retirement income, pay off an existing mortgage1, consolidate debt2, pay for medical or in-home care, make home improvements or repairs, or just contribute to that rainy-day fund. Since […]

Reverse Mortgage Disadvantages
October 8, 2019

Reverse Mortgage Disadvantages

Seniors evaluating their retirement options may consider taking out a reverse mortgage loan to access their home equity as an extra source of funds. This can be an attractive option for seniors who wish to use the funds however they choose and to eliminate monthly mortgage payments.1,2 But a reverse mortgage may not be fit […]

Increased Home Values and Retirement
October 3, 2019

Increased Home Values and Retirement

Over the last 40 years, home values have been increasing across the country and depending on what region of the country, or even what neighborhood you live in, it can determine the increase in your home’s value. Let’s take a look at home values over the past couple of decades.  The US Census Bureau has […]

Enhance Your Retirement Plan with a Reverse Mortgage
September 24, 2019

Enhance Your Retirement Plan with a Reverse Mortgage

For many baby boomers steadily approaching retirement, now is the time to start making financial decisions that will affect their golden years.  From where they plan to live out these years to what happens to their estate after they pass, it’s imperative that these decisions be made thoughtfully.  Seniors with enough equity in their homes […]

Reverse Mortgage Counseling
September 19, 2019

Reverse Mortgage Counseling

Reverse mortgage counseling for potential borrowers is not only a requirement, but it is also a significant part of the reverse mortgage process. To make sure a borrower is thoroughly aware of the type of loan they are applying for, a counselor will navigate them through all the facets and responsibilities that come with a […]

Questions to Ask If You’re Considering a Reverse Mortgage
September 12, 2019

Questions to Ask If You’re Considering a Reverse Mortgage

A Home Equity Conversion Mortgage (HECM) loan, also known as a reverse mortgage loan, can be an important financial tool that allows homeowners 62 and over to access a portion of their home equity. Below are five questions to ask yourself if you’re considering a reverse mortgage.  Do you plan to live in your home […]

What’s a Reverse Mortgage?
September 6, 2019

What’s a Reverse Mortgage?

A Home Equity Conversion Mortgage, (HECM), commonly known as a reverse mortgage loan, is a Federal Housing Administration (FHA) insured loan1 which allows you to access a portion of your home’s equity without having to make monthly mortgage payments.2 If you are at least 62 years old and have sufficient equity in your home, you […]

Finding a Reverse Mortgage Lender
August 30, 2019

Finding a Reverse Mortgage Lender

Your house is probably one of your most prized assets.  It’s where you’ve raised your family, made memories, and it has also gained equity during those years.  If you own your home and are 62 years or older, you may be able to convert the equity in your home into cash with a reverse mortgage […]

How Much Money Do You Get From a Reverse Mortgage?
August 21, 2019

How Much Money Do You Get From a Reverse Mortgage?

One of the first questions borrowers may ask when inquiring about a reverse mortgage is “how much money can I get?” Generally speaking, the amount you may be eligible to receive depends on the following: Current interest rates Appraised value of your home Any existing loans against the property Age of the youngest person on […]

Financial Options with High Home Values
August 16, 2019

Financial Options with High Home Values

When home prices are on the rise, it opens the opportunity to an array of financial options for homeowners.  Whether you are looking to borrow money, plan for retirement, or just live a little more comfortable, it may be a good time to begin exploring your options.  Here are some things to consider with the […]