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Home / Blog / About Reverse Mortgages / Here are 3 Common Reverse Mortgage Examples in 2019

'About Reverse Mortgages' Category Archives

Here are 3 Common Reverse Mortgage Examples in 2019

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What is a reverse mortgage and how does it really work? We get this question all the time, from borrowers, family members and even others in the lending industry and other professional industries who just don’t understand the product.  It seems that almost everyone has an opinion on reverse mortgages and often they are based on almost no factual knowledge. Often...
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How to use a Reverse Mortgage in a Divorce Settlement

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You may have heard about the ways in which a reverse mortgage can help improve your financial situation by allowing you to withdraw the equity in your home over time. For those people meeting the 62-year-old age requirement who have substantial equity in their homes, this can be a means to expand monthly cash flow or eliminate mortgage payments by...
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How Does a Reverse Mortgage Work? Know the Facts! (Updated 2019)

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A reverse mortgage works by allowing homeowners age 62 and older to borrow from their home’s equity without having to make monthly mortgage payments. As the borrower, you may choose to take funds in a lump sum, line of credit or via structured monthly payments. The repayment of the loan is required when the last surviving borrower vacates the home...
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What is a Reverse Mortgage? Explained in Simple Terms!

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A reverse mortgage is a loan for homeowners age 62 and older that requires no monthly mortgage payments. The loan is repaid when the borrower passes away, leaves the home permanently or sells. Funds available are distributed as a lump sum, line of credit or structured monthly payments. What it is:  A loan against your home’s equity A loan...
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How Does a HECM Loan Work? Know the Facts!

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In the world of mortgages, one term is a must-remember for senior homeowners: Home Equity Conversion Mortgage, also known as a HECM, or “heck-um.” A breakdown of HECM loans and how they work reveals just how helpful they can be for qualified senior homeowners who are 62 years of age or older. Here are some common questions and answers for...
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How to Get a Reverse Mortgage if You Still Owe on Your Home

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In this article, you’ll learn: How to eliminate your monthly forward mortgage payment with a reverse mortgage What expenses you’ll still be accountable for after eliminating your mortgage payment How you can still make payments without worrying about a monthly deadline How to get the best deal / highest principle lending limit The ability to tap into the value...
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Are Reverse Mortgages a Good Deal? Consider These Factors (2019)

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In this article, you will learn: What Will a Reverse Mortgage Cost Me? What Are the Associated Fees? How to Find More Information If you find yourself looking around the internet for good information on the topic of reverse mortgages, you’re likely to find no shortage of opinions and cautions from a whole host of people, ranging from those who...
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Why Reverse Mortgages Have 2 Notes & 2 Trust Deeds

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Borrowers are often confused when they get to the point where they are ready to sign their final documents for their reverse mortgage loan and they are presented with a First and Second Trust Deed Note and also Two Deeds of Trust (or mortgage, depending on what state in which the property is located). Then to make matters worse, the amount on the Note and Deed...
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