A common concern among reverse mortgage applicants is whether or not their Medicaid benefit will be affected by a reverse mortgage. Medicaid is a government-sponsored program that is intended to provide healthcare to low-income individuals.  Unlike with Social Security and Medicare, Medicaid eligibility can be affected by a reverse mortgage. What is Medicaid?1 Medicaid is the nation’s public...

About 10,000 Baby Boomers are turning 65 each day.1 Baby Boomers are the generation of people born between 1946 and 1964, which represent nearly 20% of the American public.1 While many seniors are retiring at this time, many also continue to work.  For some, they choose to work beyond retirement age in order to preserve their savings, stay physically and mentally active, or even to increase...

What’s the Difference? A Home Equity Conversion Mortgage (HECM) and a Home Equity Line of Credit (HELOC) are both loans that allow borrowers to access their home equity as usable funds. HECM Defined Commonly known as a reverse mortgage, a HECM is a Federal Housing Administration (FHA)1 insured loan available to homeowners 62 and older. It enables borrowers to access a portion of their home...

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 converts it to cash. Most reverse mortgages are Home Equity Conversion Mortgages (HECM) loans; HECMs are insured by the Federal Housing Administration (FHA)1 who tightly control HECM loan...

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 equity for existing homeowners...