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The Official Blog of All Reverse Mortgage®

What is a Reverse Mortgage? An Incredibly Simple Explanation.

  by Admin Edit.   40 comments
What is a reverse mortgage? In plain English, a reverse mortgage is nothing more than an equity loan secured by your home designed to defer repayment. It’s really that simple. The most common type of reverse mortgage is the HECM, which is the acronym for Home Equity Conversion Mortgage. This program was created by the Federal Housing Administration in...
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Can I Opt for a Voluntary Life Expectancy Set-Aside? (LESA)

  by Admin Edit.   2 comments
Just learned of this feature, LESA. Am a current Reverse Mortgage holder and received a solicitation from a mortgage co. There's a lot to absorb regarding RM's and unless you are an educated real estate professional, it is virtually impossible to understand all the ramifications of these deals. Even with the "counseling" as required, total understanding remains murky. I would...
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How Financial Assessment Made Reverse Mortgages Safer

  by Admin Edit.   no comments
"This financial assessment process is conducive to making the Home Equity Conversion Mortgage (HECM) an even safer loan product." If a potential borrower can swallow such an absurdity he need not be concerned about who this financial assessment ( FA ) is making the product safer for!  The FHA wants 1.25% insurance and will only allow 60% loan to value...
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Reverse Mortgages and Solar Panels: What You Need to Know

  by Admin Edit.   4 comments
As our homes age, it is not uncommon to invest in renovation projects that enhance our ability to age in place, especially if those upgrades help lower monthly utility bills. Installing solar panels is one effective solution to reduce your overall electricity expense, but if you’re a homeowner considering a reverse mortgage to support your retirement, there are a few...
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