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In your current area 100 homeowners are currently utilizing reverse mortgages to better enhance their retirement years, with 500,000 nationwide!

The amount you receive is based on your home’s value, your age, and current interest rates. Let’s start with your address so I can estimate your home value…
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(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

Don’t forget to include your spouse’s age, even if they are not yet 55, as loan proceeds are always based on the age of the youngest spouse.
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'Pros & Cons' Category Archives

Reverse Mortgage Downsides Explored: Separating Fact from Fiction

    15 comments
Reverse mortgages can seem confusing and are often surrounded by myths, especially about their downsides.  These tools are meant to help seniors use the value of their homes without having to move out, but they are often not well understood.  In this article, I want to clear up any confusion by looking at the ten most common worries people have...
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Reverse Mortgage Pros and Cons: Starting with the Downsides!

    10 comments
When used correctly, a reverse mortgage, also known as the Home Equity Conversion Mortgage (HECM), can add stability to your retirement years.  However, as with any financial product, it is not always the best program for everyone. We published this pros and cons guide to help you make an informed decision about reverse mortgages and determine if this program suits your long-term...
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Is a Reverse Mortgage Right for You? 3 Key Considerations

    6 comments
Like many of our readers who are navigating retirement, you might wonder if a reverse mortgage is right for you.  You've likely seen your equity grow substantially, possibly even owning your home outright - a common scenario for many baby boomers. Your home, often your largest asset, may lead you to consider the option of a reverse mortgage.  At All...
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4 Times a Reverse Mortgage is a Good Idea. (or Even Great!)

    21 comments
A reverse mortgage loan is not a one-size-fits-all solution; it's nuanced and depends on your individual circumstances. This article delves into four considerations to help you assess whether a reverse mortgage aligns with your financial goals. [arlo_toc] 4 Compelling Advantages of Reverse Mortgages: Enhancing Your Cash Flow A reverse mortgage could be a good idea if you're "house-rich...
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Exploring Exit Strategies: How to Terminate a Reverse Mortgage

    31 comments
Margaret has sent the following question on our blog: I have a reverse mortgage, and I'm having problems with it.  Was it legal to get a reverse mortgage without my lawyer explaining the situation?  I never knew the pros and cons of a reverse mortgage.  I think it's a legal way to swindle homeowners out of their homes.  How can...
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Top 4 Warning Signs a Reverse Mortgage May Be a Bad Idea

    13 comments
A reverse mortgage can be a viable solution for the right homeowner—primarily seeking a way to age in place effectively. These loans are available to people age 62 or older who have built up a substantial amount of home equity and allow borrowers to generate additional cash flow in retirement.  However, a reverse mortgage can be the wrong decision in...
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Reverse Mortgages Are No Longer a “Last Resort”

    2 comments
I've been told to wait on taking a reverse mortgage as a last resort.  Why? Let me start by saying that we are a reverse mortgage lender who will be the first to tell you that reverse mortgages are not for everyone.  But that's true of any financial product, and no loan is perfect for everyone. A reverse mortgage can...
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Warning: Avoid These 3 Reverse Mortgage Mistakes

    1 comment
Reverse mortgages can be valuable retirement tools but must be used responsibly.  Like many other financial products, the effectiveness of reverse mortgages is only as good as the judgment of the borrowers who use them. For homeowners age 62 and older, a reverse mortgage can provide an additional source of cash flow to supplement retirement savings.  With a reverse mortgage,...
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Should You Sell Your Home or Take a Reverse Mortgage?

    2 comments
The decision to take out a reverse mortgage may stem from a variety of reasons, whether it’s a desire to stay in your home or the need for extra cash flow. When facing the decision to take out a reverse mortgage or sell your home, there are a few factors to weigh. Each option has its own pros and cons and...
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6 Signs a Reverse Mortgage Makes Sense for You

    no comments
1. You’re 62! Happy birthday! The federally-insured Home Equity Conversion Mortgage program requires borrowers to be at least 62 years of age in order to qualify for the loan. Other basic requirements include owning your home outright or with most of your mortgage paid off, maintaining that home as your primary residence, and staying current on property tax and homeowners...
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