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Reverse Mortgage Options When Spouse Dies

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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

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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

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  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

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  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

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  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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Will the Brexit Impact Reverse Mortgages?

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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?

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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.

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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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