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Here’s an Ideal Reverse Mortgage Purchase Example

July 12, 2024 5 comments

[arlo_toc] Understanding the Reverse Mortgage for Purchase Program Many seniors prioritize finding a home that suits their lifestyle as they retire. Whether they’re looking to downsize, rightsize, avoid stairs, or find a low-maintenance property, the Reverse Mortgage Purchase program—also known as HECM for Purchase or "H4P"—is a valuable option that’s often overlooked. If you’re 62 or older, this HUD-insured program...
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Purchase 2-4 Units with a Reverse Mortgage for Lifetime Cashflow

July 12, 2024 14 comments

[arlo_toc] Exploring Reverse Mortgages for Purchasing Multifamily Units If you’re retired and thinking about downsizing, moving closer to loved ones, or finding a more suitable living arrangement, the reverse mortgage purchase program might be a great option for you. This government-insured reverse mortgage is available to individuals aged 62 or older and allows you to use the equity in your...
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Reverse Mortgage Income Requirements in 2025

July 1, 2024 46 comments

Understanding Reverse Mortgage Income Requirements Welcome to our guide on reverse mortgage income requirements! This article will explain the financial assessment underwriting guidelines, particularly the minimum residual income requirements set by HUD. These requirements play a crucial role in the lender’s application process, ensuring that you, as a borrower, can comfortably manage ongoing property-related expenses such as property taxes, homeowner’s...
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Proprietary Reverse Mortgage vs. HECM: Which Is Right for You?

June 20, 2024 12 comments

Are you considering a reverse mortgage but unsure about the differences between a Home Equity Conversion Mortgage (HECM) and a proprietary reverse mortgage? You’ve come to the right place. In this guide, we’ll cover: What a proprietary reverse mortgage is When a proprietary reverse mortgage might be better than a HECM Qualifications for a proprietary reverse mortgage How the costs...
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Understanding Reverse Mortgage Rules: Your 2025 Guide

June 17, 2024 19 comments

Reverse mortgages can provide older homeowners with financial flexibility, but navigating the rules doesn’t have to be daunting. As of 2025, important updates to reverse mortgage guidelines have been introduced, making it crucial for those 62 and older to stay informed. If you're considering tapping into your home equity, this guide simplifies the five essential rules for reverse mortgages. From...
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Using a Reverse Mortgage Purchase for New Construction

June 14, 2024 22 comments

Can a contractor build a new home for you and finance it with a reverse mortgage upon completion? Thank you -Bob The short answer to your question is, yes, you can. As a matter of fact, HUD has just made changes to the program effective in 2024 and made financing reverse mortgage purchases and new construction easier than ever...
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Reverse Mortgage Qualifications & Requirements (2025) | Do You Qualify?

June 11, 2024 18 comments

If you're a homeowner aged 62 or older looking to access your home equity without selling, a reverse mortgage may be the right solution. However, qualifying requires meeting specific criteria, including age, credit history, income, and property standards. This guide explains everything you need to know about reverse mortgage qualifications and requirements in 2025, including key eligibility factors, how lenders...
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How the Reverse Mortgage Margin & Libor Rate Works

June 10, 2024 8 comments

[arlo_toc] Understanding Your Reverse Mortgage: Key Factors One of the most common questions about a reverse mortgage is how much money you, as the borrower, can receive. The amount you can get depends mainly on two factors: your age and the loan's interest rate and margin. Typically, the older you are, the more money you can receive. Lower interest rates...
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What to Expect When Your Reverse Mortgage is Assigned to HUD

June 7, 2024 97 comments

We received a notice that our reverse mortgage loan is being assigned to HUD, along with the name of the handling company. This company has numerous complaints, especially about foreclosing before heirs can settle the home. I am the beneficiary of my mom's house, which is in a trust and a will to avoid probate. What recourse do I have...
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Is Tom Selleck Reverse Mortgage Company Selling Snake Oil?

May 20, 2024 84 comments

We just received this comment on our blog: It boils down to the saying, If it's too good to be true, then it is. I watched this actor named Tom Selleck pitching for a reverse mortgage on a TV commercial. That sounds very convincing, even when he swears to have done his homework on the matter and told the truth. ...
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