'About Reverse Mortgages' Category Archives

What is a HECM: Home Equity Conversion Mortgage

May 3, 2013     2 comments

We have all seen the commercials with Fred Thompson or Henry Winkler (a.k.a. “The Fonz”) touting reverse mortgages as a financial product that can help you remain in your home and improve your cash flow in retirement. However, you may not be too familiar with how reverse mortgages actually work, who they can benefit, and the different kinds of options...
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Use a Reverse Mortgage to Finance Your Next RV Purchase

April 19, 2013     4 comments

Reverse mortgages are a great way to improve your cash flow during retirement by borrowing against the equity in your home or even to purchase a brand new primary residence. What you may not know is that if you’re in the market for a Recreational Vehicle (RV), you can use a reverse mortgage in place of financing for that too....
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Stay in Home with a Reverse Mortgage: NCOA’s Age In Place Survey

August 17, 2012     no comments

Almost 90% of Americans 50+ Desire to Age in Place The desire to “age in place,” is defined as the ability to stay in one’s home or current living situation in the years ahead, and is the preference of almost 90% of Americans over age 50 according to recent survey results from the National Council on Aging. Of the 1,000...
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Expanded Definition of the Reverse Mortgage Loan

July 27, 2012     no comments

A reverse mortgage is a loan that can help older Americans age in place during retirement. The loan can be a lifesaver for many seniors who are retired and live on a fixed income. In a nutshell, a reverse mortgage allows borrowers to access the equity in their homes and unlike other loans, they’re not required to repay the loan...
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HECM Standard vs HECM Saver Reverse Mortgages

June 19, 2012     1 comment

Seniors looking to obtain a reverse mortgage have a few different products available to help them withdraw equity from their home. The Federal Housing Administration (FHA) offers the Home Equity Conversion Mortgage (HECM) Standard and the HECM Saver. Both products require borrowers to be at least 62 years old to qualify and provide consumers access to their home equity in...
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Reverse Mortgage Loans to Complement Retirement Planning

May 18, 2012     no comments

New research findings from financial planners and academics are showing that there is a new, viable sweet spot for reverse mortgage borrowers. And this new borrower looks quite different from the person who is thought to be a traditional, needs-based reverse mortgage borrower, according to the research. Reverse mortgage loans are a tool designed to help people who are...
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Reverse Mortgage Information | DIY Online Research

April 5, 2012     no comments

Let’s say you just heard about reverse mortgages for the first time. Start with Google, and your search will turn up about 21.3 million results of reverse mortgage information... So where to begin sifting through all this info? There are some very useful and reputable resources out there, depending on exactly what you want to know. Some of these...
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Tell Me About Reverse Mortgages | Definition

March 30, 2012     2 comments

A Reverse Mortgage is a safe and viable financial tool for borrowers aged 62 and older to consider along with their other retirement planning.  Borrowers who can no longer qualify for Home Equity Lines of Credit under conventional underwriting guidelines or no longer want or can afford a regular monthly payment have an opportunity to utilize the equity in...
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Holistic Approach to Reverse Mortgages & Retirement Planning

March 2, 2012     4 comments

A reverse mortgage can have a very positive impact on a borrower’s financial situation, but it’s important to consider the big picture when thinking about whether a reverse mortgage is the right decision for you. If you are looking into getting a reverse mortgage, there are long term implications worth exploring in planning for your financial future. The good news...
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Reverse Mortgages: A Non-Recourse Loan

December 18, 2011     no comments

One of the things that we always explain to senior borrowers when they ask about reverse mortgages is that they are non-recourse loans. The next question is always, "What is a non-recourse loan?" This is a very important feature of the reverse mortgage and I want to take a moment to explain just what non-recourse means and how that affects...
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