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:   Direct Lender There are many websites that can generate a quick quote or...

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 one. Benefits of Refinancing a HECM Property values have increased Rates...

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, these loans are insured by...

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 of equity that is now at your disposal. Put your home equity to work for you 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 so many others, are considering a reverse mortgage as a financial...