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Financial Freedom Reverse Mortgage Review (2026 Update)

October 6, 2021 52 comments

At one time, there were quite a few major bank lenders offering reverse mortgages. In fact, in the early 2000s, the majority of reverse mortgage loans were closed by national banks. One of the large bank lenders was Financial Freedom, which most recently operated under the parent company CIT Group, and previously was owned by OneWest Bank and IndyMac. At...
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Kosher Reverse Mortgage for Veterans by Jack Guttentag

September 29, 2021 2 comments

We had a “unique” caller leave us a message who questioned us on an endorsement we had received from Jack Guttentag, known to many as the Mortgage Professor. Seems she felt that this was a scam and she contended that Guttentag meant good day in German and that this meant that it could not be Jack’s real name or that...
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How to Understand Your Reverse Mortgage Statement

September 23, 2021 30 comments

Reverse Mortgage Statement - Explanation of Terms: 1. Statement Date: The period that the statement represents. The sample statement displays all of the loan activity that occurred during October. 2. Payment Plan: This is the current payment plan type that has been selected. The borrower selected a “Line of Credit” payment plan option in the sample statement. 3....
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Resolute Bank Reverse Mortgage Review (2026 Update)

September 23, 2021 no comments

The reverse mortgage industry in the United States has had to wrestle with some issues related with some new regulatory rules handed down by the U.S. government in 2017 and 2018, and for some companies that had formerly offered loans in the space, the issues that stemmed from these changes to the federally-insured Home Equity Conversion Mortgage (HECM) program caused...
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Livewell Reverse Mortgage Review (2026 Update)

September 23, 2021 14 comments

Across the reverse mortgage lender landscape, there are a variety of company types: banks and non-banks, large national lenders, and small regional lenders. Over time, many large banks have exited the reverse mortgage business, while independent non-bank lenders today comprise most of the reverse mortgage volume. Still, changes occur in the lender landscape from time to time, and 2019 was...
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“My wife is Under 62, can I still do a reverse mortgage?”

September 21, 2021 14 comments

I am 68 years of age, married my wife about three years age. I had my house before I got married. My wife is 54, can I still do a reverse mortgage? And if so how will it affect her? Her name is not on the deed. -Gregory N. Firstly, let me say that as of August 4, 2014,...
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How Reverse Mortgage Financial Assessment Works in 2025

September 15, 2021 6 comments

Updated 9/17/2025 When it comes to reverse mortgages, a crucial step in the process is the financial assessment – a set of guidelines developed by HUD (the U.S. Department of Housing and Urban Development). This assessment is more than just a formality; it's a safeguard designed to protect both the borrower and the government, which insures most of these loans....
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Resource for Conservators Seeking Reverse Mortgages

September 14, 2021 8 comments

Taking out a reverse mortgage on a property in conservatorship takes a few steps, but it can be done. Conservatorships are established when a court deems a person incapable of making certain decisions and can encompass two categories: for a person or a person's estate. Some conservatorships cover both aspects. They are generally put into effect when someone petitions the...
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Can I Protect My Girlfriend Not On My Reverse Mortgage?

September 13, 2021 6 comments

Hello Arlo, I obtained a reverse mortgage on home I purchased in 2011. Paid $170,000 for house in down market now appraised at well over $300,000. I moved my girlfriend in at the time of purchase - still with me ;) Question - how can I protect her from getting thrown out of "our" home if I go daisies up...
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What Happens When Your Reverse Mortgage Money Runs Out?

September 13, 2021 19 comments

My parents have a reverse mortgage with a line of credit that has run out of money. It was very helpful to them for many years. One parent is in a long-term care facility and on Medicaid. My other parent is living in the home, and my understanding is that I can live there for as long as I am...
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