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Yes, You Can Purchase With a Reverse Mortgage (Audio Interview)

November 11, 2014 no comments

Have a question about the reverse mortgage for Purchase? Call us Toll Free (800) 565-1722. Or, use our purchase calculator to see how the loan may work for you. Other Purchase Articles by All Reverse HECM Purchase FAQ’s HECM Purchase Reverse Mortgage in Today’s Top-10 Retirement Cities 12 Tips Before Purchasing with a Reverse Mortgage

Is the Reverse Mortgage the Best Choice For You?

October 20, 2014 no comments

Comment: my partner is 71, I am 75, We own our condo in CA the balance on the mortgage is 52,000 and the approx value is 150,000-160,000. is this program the best choice for us? Hi Rudy, You know, you used the magic words in there, "..the best thing for us". We are of the opinion that reverse mortgages...
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2014 Reverse Mortgage Payment Plans: Lump Sum vs Credit Line

October 9, 2014 2 comments

If I take an initial lump sum is it possible to obtain further equity in a lump sum after a number of years or would I have to pay the loan off and get a new loan? HUD allows you to take your loan as a fixed rate or an adjustable rate loan. The fixed rate loan is a closed-ended...
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Getting a Reverse Mortgage – How to determine Appraised Value?

October 8, 2014 no comments

how do I determine the appraised value of my home - Lana Hi Lana, This is a great question and the answer is not as simple as it may seem. Let me explain. An appraisal on a property is an estimate of value based on the information available as of a certain date, a snapshot in time if...
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Reverse Mortgage to Purchase a Condo

September 26, 2014 no comments

ALERT: HUD Announces Condo Changes Effective October 15, 2019! If I want to buy a condo for $200k all cash, can I then borrow against the equity in a reverse mortgage? Could I take out a sum certain each month or do I have to take it out all at once? I am thinking that the savings from not...
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How to Purchase a Reverse Mortgaged Home

September 25, 2014 no comments

I have found a place that we would like to purchase but the couple have passed away and also found out they had a reverse mortgage on the place. The family don't want the property and are letting it go back to the mortgage company. How can I get the property with out going through auction and would it have...
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Why Should I Choose All Reverse Mortgage?

August 8, 2014 no comments

This is a question we get all the time. Borrowers tell us that they have talked to other, larger companies, who have even pulled out HUD stats with a higher number of closed loans versus the number that All Reverse Mortgage has, while citing that because they have closed more loans, the borrower should work with them. I then...
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Rule Change Brings Higher Reverse Mortgage Principal Limits

July 3, 2014 no comments

If you’re in the process of applying for a reverse mortgage, or if you have been considering tapping into your home equity with a government insured Home Equity Conversion Mortgage (HECM) loan, a recent change may mean you can qualify for more loan proceeds. HUD surprised everyone with a Mortgagee Letter of the changes at the very end of June and...
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Drastic Reverse Mortgage Changes Are Coming Soon

June 18, 2014 no comments

HUD previously delayed their Financial Assessment, but it looks like they will be taking place soon. There are changes that will go into effect in the near future that will affect many reverse mortgage applicants. At All Reverse Mortgage, we feel that we wouldn't be doing our jobs if we didn't keep everyone up to date on what's happening. Here are some...
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Big Changes Ahead for Reverse Mortgage Non-Borrowing Spouses

May 5, 2014 4 comments

An upcoming rule change is spelling big news for non-borrowing spouses of reverse mortgage borrowers. Historically, a non-borrowing spouse who wasn’t named on the loan could be held responsible for repaying the reverse mortgage when the named borrower passed away or had to move from the home permanently. This left some non-borrowing spouses lacking financial options if they didn’t...
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