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Many people get very confused when they try to grasp how a reverse mortgage works. They look at the different interest rates, the mortgage insurance, the servicing fees, principal limits, net principal limits and before long, they just want to know the bottom line as they're so confused they don't want to try to understand anymore. This will be possibly... Read Full Article
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A browser Myrddin J. sent the following question(s) in the ask experts blog: I have a log home with no mortgage. I applied to quicken reverse mortgage and was told that because there aren't any other log homes sold in the area for the last six months (there are around 20 in the area but none sold) FHA would not... Read Full Article
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I will be 62, and my wife is 58. We are both retired at present. We own acreage (deed) under an LP where we are both partners and intend to build a home on it. We can pay outright for the home and own 100% equity in the house and acreage. My thought is to take a reverse mortgage to... Read Full Article
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My husband is 64-yrs old and presently the only borrower in the mortgage. I am 60 yrs. old (wife), self-employed approx. $1800-2250/month as a Mobile Notary Agent. Do we qualify in this reverse mortgage program as joint borrower? or just him as a single borrower? his income at present $2500/month. -Mary Jean Hi Mary Jean, If you decide to... Read Full Article
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Published in the Miami Herald 2/13/2016 The reverse mortgage can be a good choice for some older people on fixed incomes who want to stay in their homes or improve their lifestyles. Elizabeth Warren and her husband Thomas made mortgage payments faithfully every month on their home in Key West, their home loan had come from the bank where. Elizabeth was employed. Then in... Read Full Article
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Charlotte has sent the following question(s) in the ask experts blog. How can u do a no closing cost reverse mortgage when other companies charge upwards of $8,000? Hi Charlotte, That would be a little like asking why do some car companies charge more than others for their cars. But then, it really wouldn't because not all cars are... Read Full Article
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A browser Donn H. has sent the following question(s) in the ask experts blog. My mother passed, age 92, She and my stepfather, married 14 years, obtained a reverse mortgage on the house she has owned for 50 years about 6 years ago.. She left my brother and me the house upon her death. My brother is the executor. The... Read Full Article
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My ex-husband just died. There was a reverse mortgage on the house. When we applied for the reverse mortgage, the lender told us to take me off of the deed because I was eleven years younger than him. She told us to wait three months and put me back on the title. We did this. I live in another state.... Read Full Article
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Emery N. has sent the following question(s) in the ask experts blog. I am a 65 year old disabled person. I have been living with and taking care of my mother for 23 years. She took out a line of credit type of reverse mortgage, from Financial Freedom; only in her own name. She passed away a little over 3 months... Read Full Article
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Ken Tighe has sent the following question in the ask experts series. My wife will be 65 on April 5, 2017 and I was 65 on 2/4/2015. We currently own our home but want to build a new home on a lot we own that will better accommodate us in our advanced age. We have the cash to build the new... Read Full Article
This material has not been reviewed, approved, or issued by HUD, FHA, or any government agency. All Reverse Mortgage, Inc. is an independent company and is not affiliated with, acting on behalf of, or endorsed by HUD/FHA or any government agency. This content is for educational purposes and is not tax advice. Reverse mortgage programs may not be available in all states.
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