As many senior homeowners are aware, The Department of Housing and Urban Development (HUD), recently announced changes which will affect the Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. These announcements may have caused some confusion with seniors wondering, is a reverse mortgage government funded? Reverse Mortgages are Federally Insured The short answer to that...

One of the most challenging aspects of getting a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is identifying which product configuration and interest rate type best meets your needs. What many borrowers may not realize is that there are over a dozen different ways to configure a reverse mortgage. Depending on the financial goals the borrower has, the loan can be setup...

A reverse mortgage, can be a valuable retirement planning tool. This type of mortgage allows homeowners 62+ years old to convert a portion of their home equity into usable funds without having to repay the loan for as long as the borrower continues to meet the loan obligations.1 As you evaluate this financing option consider the following advantages and disadvantages of reverse mortgage before...

Generally, when considering a loan of any kind, one of the first pieces of information considered is the interest rate as it affects the funds available to you and the amount you will repay. In this respect, a Home Equity Conversion Mortgage (HECM), commonly known as a reverse mortgage, is no different than other types of financing: although the borrower is not required to make any monthly...

On Tuesday, August 29th 2017, the US Department of Housing and Urban Development (HUD) announced some changes that will have a large impact on senior homeowners interested in tapping into the equity in their homes through the use of a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage. The Federal Housing Administration (FHA)1 insures HECM loans to protect both borrowers and...