A reverse mortgage can be beneficial to seniors who are struggling during the current economic conditions.  An important part of the reverse mortgage process is the appraisal.  With the current pandemic, there have been concerns that seniors, who have been most affected by COVID-19, may not want to risk exposure by allowing someone to come into their home to conduct the appraisal. What is an...

A recent article from CNBC.com reveals that applications for reverse mortgages were up 15% in March 20201.  Many seniors are doing their research and are seeing how a reverse mortgage can be beneficial with the current economic climate. A reverse mortgage loan is available to homeowners who are 62 years and older.  It allows seniors to take part of their home’s equity and turn it into cash...

Many seniors may wonder if a reverse mortgage is right for them.  But what if they have a disability and are on a limited income?  They may be concerned that the additional funds from a reverse mortgage could interrupt the benefits they are receiving from the federal government.  With a little bit of research and consulting with their financial advisor, they may find that a reverse mortgage can...

The Federal Reserve has taken the action of cutting interest rates to almost 0%1 due to the impact on the economy from the coronavirus.  While this a great time for borrowers considering a reverse mortgage, it may be an even better time for those borrowers who already have a reverse mortgage to think about refinancing. Why Refinance a Reverse Mortgage? There are a few reasons that may prove...

Prior to the COVID-19 pandemic, many seniors made the decision to age in place.  According to an AARP survey, 76% of Americans 50 years and older said they want to remain at their current residence for as long as they can.1  With many nursing homes and assisted living facilities impacted by the pandemic, it is understandable that seniors may look to age in place for as long as possible.  By...