'About Reverse Mortgages' Category Archives

10 Reasons Why Someone Would Get a Reverse Mortgage

May 1, 2022     no comments

Unlock the value in your home with the federally-insured Home Equity Conversion Mortgage (HECM) program, designed specifically for homeowners aged 62 and older.  This non-recourse loan offers a secure way to access your home's equity without the obligation of monthly payments. While reverse mortgages may not be the perfect fit for everyone, they hold powerful benefits for certain individuals.  Here...
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How Reverse Mortgages Have Become Safer: Essential Protections Explained

April 15, 2022     6 comments

For years, reverse mortgages carried a stigma.  High fees, the fear of losing your home, and tales of predatory lenders made many older homeowners wary.  Yet, these loans have evolved significantly.  Thanks to robust regulations, federal insurance, and greater transparency, reverse mortgages are now safer than ever, offering a secure way for retirees to tap into their home equity. What’s...
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Here are 3 Reverse Mortgage Examples in 2025

March 22, 2022     19 comments

Is there an example of how a reverse mortgage works? We get this question all the time from borrowers, family members, and even others in the lending industry and other professional industries who don't understand the product.  Almost everyone seems to have an opinion on reverse mortgages, often based on virtually no factual knowledge. Often, people base their opinions...
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How Lower Interest Rates Drive Larger Reverse Mortgage Amounts

December 1, 2021     no comments

If You’ve Looked at a Reverse Mortgage in the Past, You May Want to Look Again! If you have ever investigated a reverse mortgage or have thought about it, especially in the past 24 months and didn’t think the numbers worked for your needs, it may be time to check again.  The reason we say this is because one...
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Kosher Reverse Mortgage for Veterans by Jack Guttentag

September 29, 2021     2 comments

We had a “unique” caller leave us a message who questioned us on an endorsement we had received from Jack Guttentag, known to many as the Mortgage Professor. Seems she felt that this was a scam and she contended that Guttentag meant good day in German and that this meant that it could not be Jack’s real name or that...
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New Appraised Value Under 12 Months? No Problem!

September 7, 2021     no comments

We bought our home 11 months ago. According to what I understand the loan must be more than 12 or older. We will need to wait a few months to do a reverse mortgage? Hi Lowell, You and I also traded emails on this issue but I thought this was a good opportunity to let the community see the answer...
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You Keep Ownership with a Reverse Mortgage, Not the Bank!

August 30, 2021     14 comments

With a reverse mortgage, am I applying for both a loan and a line of credit?  Where does the possibility of any cash equity affect me? I had been told this would be a simple transfer of my home to the company, with no further mortgage payments from me for the rest of my life.  Upon my passing, the bank...
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How a Reverse Mortgage Can Protect Your Assets from Inflation

July 1, 2021     no comments

The troubled economy, pandemics and social unrest have made the idea of retirement very uncertain for many seniors who are now struggling to come up with ways to securely finance their futures. What most senior homeowners don’t realize is that getting a line of credit through a reverse mortgage can help them preserve their equity from inflation, as it will...
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BREAKING: HUD Just Issued Deferral for Non-Borrowing Spouses

May 6, 2021     18 comments

BREAKING NEWS: With Mortgagee Letter 2021-11 (ML 2021-11), HUD just clarified to reverse mortgage borrowers who obtained reverse mortgages when one spouse was not on the loan and was considered a non-borrowing spouse. Prior to 2014 when HUD changed the rules, these spouses had no protections under the loan, and after the 2014 changes, the “eligible non-borrowing spouse”...
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Are Reverse Mortgages a Good Deal? Consider These Factors

May 2, 2019     no comments

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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