Blog Archive

How a Reverse Mortgages Can Help Manage Debt in Retirement
November 16, 2018
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How a Reverse Mortgages Can Help Manage Debt in Retirement

It is not uncommon for seniors to retire with debt. In fact, according to a survey by that National Council on Aging, 60% of U.S. adults 65 and older are in debt.1 69% of the same group are retired.2 If you are facing debt in retirement, you are not alone. When retiring with debt, it […]

Reverse Mortgages in Los Angeles
November 8, 2018
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Reverse Mortgages in Los Angeles

Historically, home values in Los Angeles, California have been significantly higher than the national average. Using data pulled September 30, 2018, Zillow shows the median home value in Los Angeles at $679,200 and the median home value in the U.S at $275,000.1 Home values are not the only thing that is above average in Los […]

Reverse Mortgage Counseling
November 2, 2018
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Reverse Mortgage Counseling

The Federal Housing Administration (FHA) requires all reverse mortgage applicants to complete a counseling session with a reverse mortgage counselor approved by the Department of Housing and Urban Development (HUD). The goal of reverse mortgage counseling is to make sure that each borrower has a complete understanding of the loan product before they decide to […]

Alternatives to a Reverse Mortgage Loan
October 26, 2018
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Alternatives to a Reverse Mortgage Loan

Many senior homeowners choose to use a reverse mortgage as part of their retirement plan. It is a popular financial tool to supplement income, consolidate debt, or provide a safety net for other purposes.  However, reverse mortgages aren’t the right solution for everyone.  It is important to understand your options and consider various alternatives to […]

Steps in the Reverse Mortgage Loan Process
October 18, 2018
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Steps in the Reverse Mortgage Loan Process

Reverse mortgage borrowers usually spend a few months researching on their own before speaking with a lender. After receiving a quote from a licensed loan advisor, they often take some time looking over their personalized information and weighing the pros and cons of a reverse mortgage before deciding to move forward. Once a homeowner applies […]

Calculating How Much You May Get With A Reverse Mortgage
October 11, 2018
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Calculating How Much You May Get With A Reverse Mortgage

A reverse mortgage can increase your cash flow and allow you to improve your financial security by helping you extend the life of your retirement savings. Using the proceeds from a reverse mortgage to pay off your existing mortgage and consolidate other debt can also relieve you from monetary pressures and allow you to take […]

How Do You Qualify For A Reverse Mortgage?
October 4, 2018
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How Do You Qualify For A Reverse Mortgage?

A Home Equity Conversion Mortgage (HECM), more commonly known as a reverse mortgage, is a powerful financial tool that many senior homeowners use to supplement their retirement income. A reverse mortgage allows qualified seniors to access a portion of their home equity as usable funds. If you are looking for ways to leverage your home […]

Find The Best Reverse Mortgage Lender
September 28, 2018
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Find The Best Reverse Mortgage Lender

When considering a reverse mortgage, selecting the best reverse mortgage lender for your needs is essential. Your lender will be your partner throughout the loan origination process, so it is necessary to choose a company that holds themselves accountable for the promises they make. The following questions will help you with your research as you look […]

Are Reverse Mortgages a Good Deal?
September 21, 2018
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Are Reverse Mortgages a Good Deal?

A common method for tapping into home equity is with a line of credit. One way to get a line of credit is with a reverse mortgage. If you are a senior homeowner aged 62+ looking for ways to tap into your home equity, you may be wondering, are reverse mortgages a good deal? Reverse […]

Reverse Mortgage Resources
September 14, 2018
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Reverse Mortgage Resources

Like with any financial product, it is essential that you fully understand your options before you move forward with a reverse mortgage loan. The reverse mortgage resources below can help you with your research. Use Your Home to Stay At Home The National Council on Aging created this reverse mortgage booklet. It is considered the […]