no comments
NEW 4.00% Fixed Rate Saver Plans! - Request a Free Quote Today! It seems that there are many borrowers who have not looked at reverse mortgages lately and still believe that all reverse mortgages are the same as the reverse mortgage they first looked into many years ago. One borrower referred another potential borrower to us recently because she said... Read Full Article
2 comments
One of the most important benefits that reverse mortgage borrowers receive at closing is the freedom of no longer having to make required monthly mortgage payments to their lender. It is this feature of the reverse mortgage product that makes it so unique - and as such - so difficult for those outside of our industry to comprehend and understand!... Read Full Article
no comments
I had a long conversation with a potential borrower yesterday. He said that he had spoken with a couple of loan originators and had a few concerns. One of the originators told him that there were no reverse mortgage disadvantages and the other worked for the largest reverse mortgage company in the United States and told him that she did... Read Full Article
no comments
One of the things that we always explain to senior borrowers when they ask about reverse mortgages is that they are non-recourse loans. The next question is always, "What is a non-recourse loan?" This is a very important feature of the reverse mortgage and I want to take a moment to explain just what non-recourse means and how that affects... Read Full Article
no comments
2011 is fast approaching and people are still asking about the reverse mortgage pros and cons. We have seen some changes over the past year and it's time to update some of the reverse mortgage pros and cons that were reported in our last article. HUD has made some changes that many feared and some have helped, some have made... Read Full Article
no comments
Reverse mortgage counseling is a mandatory step in the process of getting a government-insured home equity conversion mortgage (HECM) loan through the Federal Housing Administration. All reverse mortgage borrowers—regardless of loan amount, home value or financial savvy—must go through this counseling, which is offered over the phone or in person through government-approved counseling agencies. In addition to borrowers, non-borrowing spouses... Read Full Article
1 comment
2013 Update: Reverse Mortgage $625,500 Limits have been extended! FHA Confirms 2012 Reverse Mortgage Limits The Federal Housing Administration announced last week through its listserv that the current reverse mortgage loan limit of $625,500 will remain in effect for 2012 and that a mortgagee letter stating this policy is pending. “Lenders are reminded that the maximum claim amount for HECMs... Read Full Article
4 comments
Oregon reverse mortgage borrowers made headlines recently when they were suddenly cut from a tax deferral program many had been enrolled in for several years or more. Previously, reverse mortgage borrowers in Oregon were eligible for the state’s senior property tax deferral program—a program that allows people over the age of 65 to defer their property taxes over time while... Read Full Article
2 comments
UPDATE: Financial Assessment has been postponed until 3rd quarter 2012 Borrowers interested in taking out a Home Equity Conversion Mortgage (HECM), or government-insured reverse mortgage, should be aware that they may face a new financial assessment that will look at their monthly income & cash flow to determine whether or not they are eligible for a loan. Lenders have... Read Full Article
2 comments
UPDATE: Financial Assessment has been postponed until 3rd quarter 2012 For those looking into getting a Reverse Mortgage, it’s important to be aware of certain changes that lenders may be making in the form of credit requirements for borrowers that take place during the loan underwriting process. Reverse mortgage lenders are beginning to conduct these financial assessments as a way... 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.
*#1 Rated Reverse Mortgage Lender: Based on a comparative review of BBB ratings, complaint histories, accreditation status, customer review scores, and positive-review percentages for the top 20 HECM lenders by endorsement volume (RMInsight, October 1, 2025). BBB data verified December 10, 2025. View Full Advertising Disclosure
