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Can I Lose My Home with a Reverse Mortgage?
March 20, 2019
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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
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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
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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
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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
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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
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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% […]

Is a Reverse Mortgage a Good Thing?
January 31, 2019
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Is a Reverse Mortgage a Good Thing?

If you’re researching different ways to access your home equity you may be wondering, “are reverse mortgages a good thing?” A reverse mortgage might be a good option if: You want to eliminate your monthly mortgage payment.1 If you are still paying off your conventional mortgage on your home, replacing it with a reverse mortgage […]

How Much Money Do You Get From A Reverse Mortgage?
January 17, 2019
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How Much Money Do You Get From A Reverse Mortgage?

A reverse mortgage is a loan for seniors 62 years old or older. The loan may allow senior homeowners to leverage their home equity by accessing a portion of it as cash. Reverse mortgages may help to lessen the financial stress for retirees who are worried about outliving their retirement savings. The first question that […]

Getting Out of a Reverse Mortgage
January 11, 2019
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Getting Out of a Reverse Mortgage

There are many articles that discuss the pros and cons of a reverse mortgage; however, what do you do if you have decided to obtain a reverse mortgage but your circumstances suddenly change? If you have chosen to get a reverse mortgage, or you are in the process of securing one, there are still options […]

Up Front Costs of A Reverse Mortgage
January 3, 2019
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Up Front Costs of A Reverse Mortgage

When researching reverse mortgages, a key question that comes up is what are the fees associated with the loan. Reverse mortgages that are insured by the federal government, specifically the Federal Housing Administration (FHA), are called Home Equity Conversion Mortgages (HECMs).  The fees for HECMs are strictly regulated to ensure borrowers are not overcharged.  A […]