Increased Home Values and Retirement Over the last 40 years, home values have been increasing across the country and depending on what region of the country, or even what neighborhood you live in, it can determine the increase in your home’s value. Let’s take a look at home values over the past couple of decades.  The US Census Bureau has collected data indicating the median home price in...

Retiring with a Reverse Mortgage For many baby boomers steadily approaching retirement, now is the time to start making financial decisions that will affect their golden years.  From where they plan to live out these years to what happens to their estate after they pass, it’s imperative that these decisions be made thoughtfully.  Seniors with enough equity in their homes can refinance...

Reverse Mortgage Counseling Reverse mortgage counseling for potential borrowers is not only a requirement, but it is also a significant part of the reverse mortgage process. To make sure a borrower is thoroughly aware of the type of loan they are applying for, a counselor will navigate them through all the facets and responsibilities that come with a reverse mortgage. Why do I need counseling...

Questions to Ask If You’re Considering a Reverse Mortgage A Home Equity Conversion Mortgage (HECM) loan, also known as a reverse mortgage loan, can be an important financial tool that allows homeowners 62 and over to access a portion of their home equity. Below are five questions to ask yourself if you’re considering a reverse mortgage.  Do you plan to live in your home long-term? If...

What’s a Reverse Mortgage? A Home Equity Conversion Mortgage, (HECM), commonly known as a reverse mortgage loan, is a Federal Housing Administration (FHA) insured loan1 which allows you to access a portion of your home’s equity without having to make monthly mortgage payments.2 If you are at least 62 years old and have sufficient equity in your home, you may be able to get the cash you need...