'About Reverse Mortgages' Category Archives

Any Reverse Mortgage Programs for Condos NOT Approved?

January 24, 2017     8 comments

ALERT: HUD Announces Condo Changes Effective October 15, 2019! Do you consider non hud reverse mortgages? My condo association is not fha certified There are only a very few private or proprietary  programs available at this time. Prior to the mortgage market meltdown in 2009 - 2010, there were several but they were very slow to reemerge and there...
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Can I get a New Reverse Mortgage?

January 19, 2017     no comments

I received notice from unnamed company indicating my property value has increased and I might be eligible for a new reverse mortgage with additional cash lump sum or increased line of credit. Is this a scam? We don't participate in this type of marketing because we don't agree with it but it is not a scam.  If your property goes...
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Why is the reverse mortgage amount so low?

January 19, 2017     no comments

Why am I allowed such a small amount (60% of the value of my home) on a Reverse Mortgage? Hi Shirley, The reverse mortgage program is meant to allow you to live in your home, payment free for the rest of your life.  The equity in the property is always yours.  So while you are allowed 60% now, the other...
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Here’s Why Harvard Supports Reverse Mortgages

January 14, 2017     no comments

The population of older Americans is growing and will continue to grow for the next two decades. By 2035, it is projected that one out of every three households in America will be headed by someone age 65 or older. But among the older adults, the percentage of those with low incomes will grow. In 2015, 15 million older adults...
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Reverse Mortgages Explained: What It Is & How it Works.

December 7, 2016     no comments

What is a Reverse Mortgage & How Does It Work? Over the past several years there have been a number of television commercials with spokesmen pitching reverse mortgages. However, it is still not a term that is very well understood by most people for a very good reason. Mortgages come from lenders and are what people use to purchase homes,...
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How Does a Reverse Mortgage Really Work?

June 12, 2016     no comments

Teresa has sent the following question(s) in the ask experts blog. Hi, how does the reverse mortgage really work? I have been trying to understand it, do I receive the money that is reversed? I pay $ 441.70 for my mortgage and I'm on social security and only make under $760.00 a month and the payments goes to USDA Rural Development...
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Reverse Mortgages – How They Work & How They Don’t in 2017

June 10, 2016     4 comments

Many people get very confused when they try to grasp how a reverse mortgage works. They look at the different interest rates, the mortgage insurance, the servicing fees, principal limits, net principal limits and before long, they just want to know the bottom line as they're so confused they don't want to try to understand anymore. This will be possibly...
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Reverse mortgage can be a good option for some seniors

February 23, 2016     no comments

Published in the Miami Herald 2/13/2016 The reverse mortgage can be a good choice for some older people on fixed incomes who want to stay in their homes or improve their lifestyles. Elizabeth Warren and her husband Thomas made mortgage payments faithfully every month on their home in Key West, their home loan had come from the bank where. Elizabeth was employed. Then in...
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Why Should I Choose All Reverse Mortgage?

August 8, 2014     no comments

This is a question we get all the time.  Borrowers tell us that they have talked to other, larger companies, who have even pulled out HUD stats with a higher number of closed loans versus the number that All Reverse Mortgage has, while citing that because they have closed more loans, the borrower should work with them. I then...
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Growing Demand Ahead for Reverse Mortgages

March 21, 2014     2 comments

If you’re a homeowner who’s considering retiring, you may already be in possession of your most important source of retirement funding: your home. Demand for reverse mortgages—a type of loan that allows you to borrow against the equity in your home, if you’re 62 or older—is expected to increase as a retirement planning tool, finance and economics experts say....
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