Home / Blog / Archive by Category "About Reverse Mortgages"

'About Reverse Mortgages' Category Archives

How to Get a Reverse Mortgage if You Still Owe on Your Home

   4 comments
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...
Read Full Article

Why Reverse Mortgages Have 2 Notes & 2 Trust Deeds

   9 comments
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...
Read Full Article

The Absolute TRUTH About Reverse Mortgages

   3 comments
A recent comment from our reader: To whom it may concerns I have read so many reverse mortgage info. sounds like it’s not really to help you but to help themselves. It’s designed to make you think they are helping you, but you really are giving away your home. you are selling it to them for a very low...
Read Full Article

How Safe is a Reverse Mortgage? The Answer Will Surprise You!

   no comments
The decision to take out a Home Equity Conversion Mortgage (HECM) is a big one, and you may be wondering how safe this government-insured loan program is. While reverse mortgages aren't right for everyone, the HECM program has several built-in protections designed to keep borrowers safe. Safeguard #1- Federal guarantee One of the program’s biggest protections is that it...
Read Full Article

Why You Should Use a Reverse Mortgage to Fund Long Term Care

   no comments
The goal of home care—similar to the goals of some reverse mortgage borrowers—is to help people remain in their homes, and reverse mortgage proceeds can help pay for care services. Many prefer being cared for in the comfort of their own home rather than in some sort of care facility, and it can be less expensive, as well. Paying for...
Read Full Article

Reverse Mortgage Servicing, Setting the Record Straight.

   4 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...
Read Full Article