Blog Archive

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 […]

Planning A Comfortable Retirement – A Reverse Mortgage May Help
September 6, 2018
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Planning A Comfortable Retirement – A Reverse Mortgage May Help

According to the 2018 Retirement Savings Survey, 56% of Americans have less than $10,000 saved for retirement1. Although many of the respondents in the younger subgroups had less money saved which may skew this percentage, 28% of those age 55 or older reported having no retirement savings at all. However, living comfortably during retirement has […]

Reverse Mortgage Lenders – Choosing The Right Lender
August 29, 2018
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Reverse Mortgage Lenders – Choosing The Right Lender

Reverse Mortgage Lenders When you’ve made the decision to get a reverse mortgage loan, choosing the right lender is the next step.  With hundreds of reverse mortgage lenders and brokers available, this can seem a bit overwhelming.  Here are a few ways to narrow down the options and find the right lender for you:   […]

Can You Refinance A Reverse Mortgage?
August 24, 2018
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Can You Refinance A Reverse Mortgage?

If you currently have a reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), you may be wondering if you can still refinance your loan.  The answer is yes; refinancing a reverse mortgage, also known by many lenders as a HECM-to HECM Refinance, is simply replacing your existing reverse mortgage with a new […]

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