All Reverse Mortgage

Reverse Mortgage Options When Spouse Dies

September 20, 2016   by Mike Branson   no comments

Under the old reverse mortgage rules, non-borrowing spouses of reverse mortgage borrowers did not have the same rights borrowers did.   In fact, in some cases where both spouses were living in the house but only one was named on the home title, those non-borrowing spouses were left without many options after the borrower spouse died. These cases have been...
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Yes. You Can Refinance a Reverse Mortgage

September 20, 2016   by Mike Branson   41 comments

Top reasons for a reverse mortgage refinance: Your home value has increased considerably You originally obtained your loan when the lending limit was less than the current HECM limit of $625,500 You are adding a younger spouse now age 62 to protect them from having to sell the home upon your death To benefit from a lower interest rate or margin Refinance into...
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History of the Reverse Mortgage

September 18, 2016   by Mike Branson   no comments

  Reverse mortgages have been through a lot of changes in their short, 54 year (depending on who you ask) lifespan. As the story goes, the first reverse mortgage was written in 1961 to a woman in Portland, Maine by a small, local bank. The owner of the bank wanted to help the wife of his high school football coach...
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Reverse Mortgage Amortization Calculator | Free Excel Download

September 15, 2016   by Mike Branson   2 comments

  All Reverse Mortgage has developed the first ever reverse mortgage amortization calculator free for download that let's you change future interest rate, appreciation rates and payment assumptions. Download link: Reverse-Mortgage-Amortization-Calculator-2015   Have you ever wondered about how a Reverse Mortgage loan could be more advantageous than a traditional loan? Are you someone who thinks Reverse Mortgage loans are only for those...
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Considering a Reverse Mortgage? Avoid These 3 Mistakes

September 14, 2016   by Mike Branson   1 comment

  Reverse mortgage can be valuable retirement tools, but they need to be used responsibly. Like many other financial products, the effectiveness of reverse mortgages is only as good as the judgement of the borrowers who use them.   For homeowners age 62 and older, a reverse mortgage can provide an additional source of cash flow to supplement retirement savings....
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Reverse Mortgage for Purchase: Down Payment Requirements

September 11, 2016   by Mike Branson   16 comments

Save up to $6,000 on your reverse mortgage down payment when selecting All Reverse Mortgage's ZERO Origination Fee HECM Purchase Plans.  A reverse mortgage can be used in the purchase of a new home in what is called a Home Equity Conversion Mortgage Purchase. Basically, a new home is bought at the same time a reverse mortgage is taken, and the...
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Getting a Reverse Mortgage Online -vs- in Person

August 19, 2016   by Mike Branson   no comments

Making the decision to apply for a reverse mortgage is a large decision in and of itself, but once you do decide you’re ready, you will have a choice to make whether you want to work with a loan officer over the phone or in person.   You can complete a reverse mortgage in person with a local loan officer...
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Will the Brexit Impact Reverse Mortgages?

August 17, 2016   by Mike Branson   no comments

As you have heard by now, Brexit happened. The United Kingdom voted in referendum in June to leave the European Union. Though nothing catastrophic has happened as a result, there will likely be some slow changes taking place across the real estate landscape in the U.S. in the coming years, especially when it comes to the housing market.   Since...
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Reverse Mortgages: What Happens After Death?

August 16, 2016   by Mike Branson   56 comments

Seems that one of the most popular questions we get is what happens with my reverse mortgage and my home after death. After all, the reverse mortgage is intended to be the last loan that borrowers will ever need, so this is a question many Mature Americans and their heirs have on their minds. If they do get a reverse...
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Reverse Mortgage Servicing, Setting the Record Straight.

August 2, 2016   by Mike Branson   no comments

Loan servicing is a critical component to the reverse mortgage process. It’s also one of the most misunderstood functions by borrowers. A reverse mortgage goes through several different cycles throughout the life of the loan. The loan begins in the origination stage, moves to closing and then enters the servicing phase, where the reverse mortgage will remain throughout the life of the...
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