Author Archives

Non-Borrowing Spouses Now Have Protections

March 1, 2016     16 comments

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...
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Reverse mortgage can be a good option for some seniors

February 23, 2016     no comments

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...
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How We Deliver a No Closing Cost Reverse Mortgage

February 22, 2016     2 comments

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...
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Do Heirs Have Any Recourse to a Reverse Mortgage?

February 19, 2016     no comments

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...
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Notify Death of Spouse Holding Reverse Mortgage?

February 11, 2016     no comments

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....
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How to Handle a Reverse Mortgage After Death?

November 26, 2015     no comments

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...
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Can a Reverse Mortgage be used to Build a New Home?

October 21, 2015     2 comments

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...
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How a Reverse Mortgage Refinance Works

October 7, 2015     2 comments

Looking for a Reverse Mortgage Refinance? All Reverse Mortgage© has consistently brought exclusive offers to our customers. Let us show you how to get more from your equity with a federally-insured Reverse Mortgage Refinance. Try our New Refinance Calculator or call Toll Free (800) 565-1722 I am 70 and live with my 88 year-old mother. She is changing her current...
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HECM Financial Assessment & Extenuating Circumstances

April 2, 2015     1 comment

Extenuating Circumstances Can Help You Qualify for a Reverse Mortgage Under the new reverse mortgage rules set to take effect April 27, lenders will be required to conduct a thorough analysis of your financial profile before you can qualify—an analysis known as the reverse mortgage “financial assessment.” This assessment weighs things like proof of income and credit history in its...
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Reverse Mortgage in Foreclosure After Leaving Home Permanently

March 12, 2015     2 comments

when you move out of your home while having a reverse mortgage do you have a certain amount of time to sell the house or is it due asap? Hello Deborah, The reverse mortgage loan is governed by the terms of your legal documents.  In other words, the agreements you made with the lender and with HUD...
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