Author Archives

Quicken Reverse Mortgage Review (2023 Update)

May 10, 2019     16 comments

The national reverse mortgage landscape comprises lenders large and small. Some are regional, some are national; some are banks, others are non-bank lenders.  Over the course of the last 10 years, the lender landscape has shifted from one that had several banks, to today where most of the top lenders by volume are non-bank mortgage lenders. One of those companies...
Read Full Article

Are Reverse Mortgages a Good Deal? Consider These Factors

May 2, 2019     no comments

In this article, you will learn: What Will a Reverse Mortgage Cost Me? What Are the Associated Fees? How to Find More Information If you find yourself looking around the internet for good information on the topic of reverse mortgages, you’re likely to find no shortage of opinions and cautions from a whole host of people, ranging from those who...
Read Full Article

The 2019 Reverse Mortgage Limit is officially $726,525

March 28, 2019     7 comments

BREAKING: 2022 Reverse Mortgage Limits Soar to $970,800 HUD released their announcement verifying the news we released on November 28, 2018 raising the Mortgage Lending Limits for HECM Loans. The numbers came in exactly where we expected and so the article, we posted on November 28, 2018 is now official. But remember, the new limits are only effective with...
Read Full Article

Should Use a Reverse Mortgage to Fund Long Term Care?

March 1, 2019     no comments

The goal of home care—similar to the goals of some reverse mortgage borrowers—is to help people remain in their homes, and reverse mortgage proceeds can help pay for care services. Many prefer being cared for in the comfort of their own home rather than in some sort of care facility, and it can be less expensive, as well. Paying for...
Read Full Article

5 Tips to an Easy Reverse Mortgage Process

March 1, 2019     no comments

A reverse mortgage is a loan that allows people 62 and older to borrow money from the equity they have built in their home. Taking out a reverse mortgage is a big decision and should involve careful thought and communication with those close to you. To help in obtaining a reverse mortgage, here are five tips to make the process...
Read Full Article

6 Signs a Reverse Mortgage Makes Sense for You

March 1, 2019     no comments

1. You’re 62! Happy birthday! The federally-insured Home Equity Conversion Mortgage program requires borrowers to be at least 62 years of age in order to qualify for the loan. Other basic requirements include owning your home outright or with most of your mortgage paid off, maintaining that home as your primary residence, and staying current on property tax and homeowners...
Read Full Article

5-Step Guide to the Reverse Mortgage Loan Process

March 1, 2019     2 comments

You’ve done all your research on what a reverse mortgage is, and you’ve decided that this is the right loan for you. Now the question is, what do you do next to get the loan started? Many senior homeowners get to the point where they know they want the loan, but they do not know how to proceed or how...
Read Full Article

Reverse Mortgage for Second Home or Investment Property?

March 1, 2019     29 comments

One question we often get from potential clients is: Can I take a reverse mortgage out on my second home? The short answer is no, not anymore.  Prior to the financial crisis, some lenders did offer a private product that allowed borrowers to obtain a reverse mortgage on their second home. But today, most reverse mortgages are through the Federal...
Read Full Article

Here’s How Much You Get from a Reverse Mortgage in 2021?

February 27, 2019     8 comments

If you’re looking for a new way to finance your retirement, the range of options available to you through a reverse mortgage is worth exploring. Most people start with the question: "How much can I get?" It's a good place to start, and it’s important to know that there are several factors that will determine the maximum amount you can...
Read Full Article

What is the Government’s Role in Reverse Mortgages?

February 13, 2019     6 comments

An estimated 99% of of reverse mortgages offered today are insured by the Federal Housing Administration (FHA), according to the agency. While the government does insure these reverse mortgage products, it does not offer the loans directly to consumers. Since they are insured by the federal government, the vast majority of reverse mortgages come with additional benefits that you won’t...
Read Full Article