Author Archives

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...
Read Full Article

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...
Read Full Article

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...
Read Full Article

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...
Read Full Article

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...
Read Full Article

What to Expect When Your Reverse Mortgage is Assigned to HUD

June 7, 2024 105 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...
Read Full Article

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. ...
Read Full Article

Free Reverse Mortgage Amortization Calculator

May 16, 2024 7 comments

All Reverse Mortgage, Inc. (ARLO™) has created a new reverse mortgage amortization calculator that helps you understand how your loan will change over time. With the amortization calculator below, you can: Choose how much to borrow or repay. Instantly see how this affects your loan balance and credit line. Adjust for future interest rates, home value changes, and payment plans....
Read Full Article

Understanding Reverse Mortgage Insurance: Key Benefits, Costs, and Protections

May 16, 2024 36 comments

Introduction to Reverse Mortgage Insurance When you get a federally insured HECM reverse mortgage, the biggest initial cost is the Upfront Mortgage Insurance Premium (UFMIP). This is a one-time fee of 2% of either the maximum lending limit ([hecm_limit year="current"]) or your home’s appraised value, whichever is lower. There’s also an ongoing cost called the Annual Mortgage Insurance Premium (MIP). ...
Read Full Article

New Florida Law Reduces Taxes on Reverse Mortgages Starting July 1, 2024

May 14, 2024 no comments

[arlo_toc] The Cost of Reverse Mortgages in Florida Florida has long been one of the most expensive states in which to close a reverse mortgage due to the fees charged by the state. In addition to already having higher title insurance costs and higher hazard insurance costs, Florida seniors have had to endure the state charging documentary stamp taxes on every mortgage...
Read Full Article

« Older Entries

Newer Entries »