What is the Government’s Role in a “Federally-Insured” Reverse Mortgage?
August 9, 2018

What is the Government’s Role in a “Federally-Insured” Reverse Mortgage?

If you have been researching reverse mortgages you have probably come across terms like government-insured or FHA-approved; but, what role does the government really have with a federally insured reverse mortgage?  To clarify, the only reverse mortgage loan that is insured by the U.S. Federal Government is called a Home Equity Conversion Mortgage (HECM).  Specifically, […]

Can You Get a Reverse Mortgage on a Home That is Paid Off?
August 2, 2018

Can You Get a Reverse Mortgage on a Home That is Paid Off?

Did you know that qualified homeowners can get a reverse mortgage on a home that is paid off? Paying off your home is a huge milestone in your life. After years of making mortgage payments, your home is finally entirely yours, free and clear. Depending on the value of your home, you may have a chunk […]

What is the Minimum Age for a Reverse Mortgage?
July 27, 2018

What is the Minimum Age for a Reverse Mortgage?

A reverse mortgage is a federally insured1 loan for senior homeowners that allows you to convert your home equity into cash without having to make monthly mortgage payments.2 In today’s world, with seniors struggling to keep up with an increasing cost of living, a reverse mortgage can be an invaluable financial tool. If you, like […]

How Much Equity Do I Need To Get A Reverse Mortgage?
July 19, 2018

How Much Equity Do I Need To Get A Reverse Mortgage?

A reverse mortgage can be a convenient way for accessing the equity in your home without having to sell or move. A question that is often asked by homeowners considering this option is how much equity do I need to get a reverse mortgage? Reverse mortgages generally make the most sense for seniors who have […]

How Much Money Can You Get From a Reverse Mortgage?
July 11, 2018

How Much Money Can You Get From a Reverse Mortgage?

A reverse mortgage allows qualified homeowners to turn a portion of their home equity into cash while continuing to live in their home.1 The loan does not require monthly mortgage payments for as long as the loan obligations are met1 and the  loan proceeds  can be used any way you choose. How much money can […]

What Are The Downsides of a Reverse Mortgage?
July 3, 2018

What Are The Downsides of a Reverse Mortgage?

While a reverse mortgage can be an invaluable tool for some senior homeowners, there are situations where it may not be the best option. Understanding the potential downsides of a reverse mortgage can help you determine if it is an option you wish to pursue further. Below is a list things that you should consider […]

5 Ways to Supplement Your Social Security Income
June 28, 2018

5 Ways to Supplement Your Social Security Income

Social security is not meant to solely support retired seniors. In fact, according to CNN Money, social security will only replace 40% of the average retiree’s income.1 This leaves two options for retirees, they can either adjust their standard of living to survive off of social security alone or find additional income sources to make […]

Why Seniors Choose the HECM for Purchase
June 20, 2018

Why Seniors Choose the HECM for Purchase

A Home Equity Conversion Mortgage (HECM) for Purchase loan can be a fantastic tool for seniors who are looking to downsize or move closer to family. Whether seniors are looking to move to the city, get out to the country, or just find their dream home, a HECM for Purchase may allow them to live […]

How to Save Enough for Retirement With The Help Of A Reverse Mortgage
June 15, 2018

How to Save Enough for Retirement With The Help Of A Reverse Mortgage

Many seniors are worried they will not be able to save enough for retirement. Starting to save later in life can be overwhelming and often feel like an uphill battle. The five strategies below can help you make a plan to maximize your money in retirement. 1. Understand your Social Security Benefits Don’t expect social […]

Reverse Mortgage Resources
June 6, 2018

Reverse Mortgage Resources

If you are apprehensive about your financial situation in retirement, you are not alone. Financial stability is a concern for many seniors. Social security benefits, savings, and retirement income may not provide enough money to cover living expenses as you age. However, the equity in your home may be able to help. A reverse mortgage […]