Discover the HECM for Purchase Loan
April 17, 2019

Discover the HECM for Purchase Loan

Seniors approaching retirement age sometimes consider selling their family home.  Whether it’s to downsize to a smaller home, move closer to grandchildren, or buy a home in the country or on the beach, making the decision can be stressful. If you are at least 62 years old, the Home Equity Conversion Mortgage (HECM) for Purchase […]

Medicaid & Reverse Mortgages
April 12, 2019

Medicaid & Reverse Mortgages

A common concern among reverse mortgage applicants is whether or not their Medicaid benefit will be affected by a reverse mortgage. Medicaid is a government-sponsored program that is intended to provide healthcare to low-income individuals.  Unlike with Social Security and Medicare, Medicaid eligibility can be affected by a reverse mortgage. What is Medicaid?1 Medicaid is […]

Explore Your Options
April 5, 2019

Explore Your Options

About 10,000 Baby Boomers are turning 65 each day.1 Baby Boomers are the generation of people born between 1946 and 1964, which represent nearly 20% of the American public.1 While many seniors are retiring at this time, many also continue to work.  For some, they choose to work beyond retirement age in order to preserve […]

HECM vs HELOC
March 29, 2019

HECM vs HELOC

What’s the Difference? A Home Equity Conversion Mortgage (HECM) and a Home Equity Line of Credit (HELOC) are both loans that allow borrowers to access their home equity as usable funds. HECM Defined Commonly known as a reverse mortgage, a HECM is a Federal Housing Administration (FHA)1 insured loan available to homeowners 62 and older. […]

Can I Lose My Home with a Reverse Mortgage?
March 20, 2019

Can I Lose My Home with a Reverse Mortgage?

Many seniors are taking advantage of the equity in their home by taking out a reverse mortgage. A reverse mortgage is a loan that allows homeowners 62 and older access to part of the equity in their home and convert it to cash. Most reverse mortgages are Home Equity Conversion Mortgages (HECM) loans; HECMs are […]

Reverse Mortgages in California
March 13, 2019

Reverse Mortgages in California

California is known for Hollywood stars, Silicon Valley’s technology, beautiful coastlines, Napa Valley wine, and breathtaking Redwood and Sequoia forests. The Golden State is home to more than 39 million people 1, making California the most populous state in the nation.2 With its large population, high housing demand leads to high home values and increased […]

How is a Reverse Mortgage Calculated?
March 8, 2019

How is a Reverse Mortgage Calculated?

Seniors considering a reverse mortgage often ask “How much money can I get from a reverse mortgage?” or “How much can I borrow?” The amount a borrower can receive from a reverse mortgage, also referred to as a Home Equity Conversion Mortgage (HECM), varies. With a HECM, borrowers cannot cash out on 100 percent of […]

Reverse Mortgages in Texas
March 1, 2019

Reverse Mortgages in Texas

Texas is often associated with football and barbeque, but the Lone Star State is also known for having no income tax and a low cost of living.1 As of December 2018, Texas still ranked among the top 10 states with the lowest cost of living in the U.S. Combining these benefits, along with a wide […]

Reverse Mortgage Facts
February 22, 2019

Reverse Mortgage Facts

As of January 2019, more than 1.1 million seniors have taken out a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage.1 In addition, according to a university study, 83% of seniors who took out a reverse mortgage said they were either satisfied or very satisfied with their decision.2 If you or someone […]

A Mortgage in Retirement
February 13, 2019

A Mortgage in Retirement

If you are among the 27% of retirees whose debt is negatively impacting your ability to live comfortably,1 your relaxing retirement might be overshadowed by financial stress. Many seniors actually carry their mortgage into retirement. In fact, 44% of Americans between the ages of 60 and 70 have a mortgage when they retire; and, 17% […]