Author Archives

Stay in Home with a Reverse Mortgage: NCOA’s Age In Place Survey

August 17, 2012     no comments

Almost 90% of Americans 50+ Desire to Age in Place The desire to “age in place,” is defined as the ability to stay in one’s home or current living situation in the years ahead, and is the preference of almost 90% of Americans over age 50 according to recent survey results from the National Council on Aging. Of the 1,000...
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How to Choose a Reputable Reverse Mortgage Company

August 13, 2012     no comments

There are several ways to make sure the reverse mortgage lender you choose is safe to work with online. While there are plenty of consumer protections that have been put into place by the government to safeguard consumers from reverse mortgage scams, it’s still good to do a few checks on your lender before you move forward. National Mortgage Licensing...
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Will Urban Reverse Mortgage Be the Next Big Lender to Exit?

August 2, 2012     no comments

UPDATE: We are happy to report that Knight Capital announced that the trading debacle did not affect the reverse mortgage lending unit of Urban Financial Group. According to the Article published in Reverse Mortgage Daily, Urban Financial will continue with business as usual and that is very good news to reverse mortgage borrowers everywhere! Urban Financial Group Based out of...
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Expanded Definition of the Reverse Mortgage Loan

July 27, 2012     no comments

A reverse mortgage is a loan that can help older Americans age in place during retirement. The loan can be a lifesaver for many seniors who are retired and live on a fixed income. In a nutshell, a reverse mortgage allows borrowers to access the equity in their homes and unlike other loans, they’re not required to repay the loan...
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2012 Reverse Mortgage Update

July 27, 2012     no comments

OFFICIAL: FHA Announces Fixed Rate Standard Reverse Mortgage Elimination Date.. It's been a while since we did our last State of the Union message for Reverse Mortgages and we feel that it's time to update everyone on the program. There have been some changes in the market and the players, and everyone is still waiting for the other shoe to...
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CFPB’s Releases Reverse Mortgage Consumer Guide

July 20, 2012     no comments

In conjunction with an in-depth study about the reverse mortgage business and its products, the new Consumer Financial Protection Bureau recently released a consumer guide on reverse mortgages, which is now available on its website. The guide, which accompanies other such consumer resources on reverse mortgages, allows you to ask yourself some simple questions about whether this type of loan...
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A Look Into the CFPB Reverse Mortgage Study

July 20, 2012     no comments

The Consumer Financial Protection Bureau (CFPB) released a report on reverse mortgages in June that found consumers need better information in order to make the right decision about whether to take out the loan. “Reverse mortgages are complex and have the potential to become a much more pervasive product in the coming years as the baby boomer generation enters retirement,”...
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Reverse Mortgages; Are Home Values Ready for Rebound?

July 6, 2012     no comments

One of the biggest factors in determining how much money reverse mortgage borrowers can qualify for is their home value. It’s not surprising, then, that the state of the nation’s housing market might be one of your primary concerns if you’re considering taking out this type of loan. Anyone thinking about getting a reverse mortgage is probably asking the million-dollar...
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Reverse Mortgage Lenders -VS- Brokers… Which is the Right Choice?

July 5, 2012     no comments

Getting a reverse mortgage is a big decision, and part of the process involves deciding whether to work with a mortgage broker or lender. Both entities have the ability to offer a reverse mortgage loan, and both are governed by the same sets of guidelines under the Federal Housing Administration’s Home Equity Conversion Mortgage HECM program. As long as you’re...
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Helping Parents with a Reverse Mortgage? | What to Consider

June 29, 2012     2 comments

Question from our reader: I would like to know, if my parents are taking a reverse mortgage, will I get something left when they die? Also can the bank charge me for that reverse mortgage or it will end will them dying? I feel a bit stupid but I’m not sure at all about that and I really would like...
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