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Reverse Mortgage & Bankruptcy Implications

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We have recently had several borrowers who had previously obtained a reverse mortgage call and ask us what the effect would be on those reverse mortgages if they had to now begin a bankruptcy proceeding. While we are not attorneys and would always advise you to seek competent legal advice from an attorney in your state, we did want to...
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Yes. You Can Refinance a Reverse Mortgage

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Looking for a Reverse Mortgage Refinance? All Reverse Mortgage© has consistently brought exclusive offers to our customers. Let us show you how to get more from your equity with a federally-insured Reverse Mortgage Refinance - Request Your Quote Here – Question from our reader "Can you refinance a reverse mortgage?" I received a call from the son and daughter of...
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Skip Tenure Plan & Go for the Credit Line Growth

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If you’re thinking about taking out a reverse mortgage, it’s important to understand all of its unique features.   Did you know that the federally-insured home equity conversion mortgage (HECM) program has a loan payment option that actually grows over time, thereby increasing your borrowing capacity?   The HECM program allows homeowners aged 62 and older to access the home...
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6 Signs You’re Ready for a Reverse Mortgage

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  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...
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The Absolute TRUTH About Reverse Mortgages

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  A recent comment from our reader: To whom it may concerns i have read so many reverse mortgage info. sounds like it’snot really to help you but to help them selves. 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...
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How Does a Reverse Mortgage Really Work?

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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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Using a Reverse Mortgage to Purchase New Home

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A browser Phil Smith has sent the following question(s) in the ask experts blog. I wish to purchase a new home for approximately $800,000. What is the difference if I (A) pay cash for the property and then get a $250,000 reverse mortgage or (B) get a $250,000 reverse mortgage as part of the purchase process? I am 72 and my...
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The Benefits of a Non-Recourse Reverse Mortgage Loan

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The Non-Recourse feature of the Reverse Mortgage product is something that is often misunderstood by the general public and has been the topic of a recent lawsuit between AARP and HUD over the interpretation and implementation of it. Simply, Non-Recourse reverse mortgage means that a borrower can never owe more than their home is worth at the maturity of their...
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So, What’s Your Problem with Reverse Mortgages?

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Reverse mortgages are a financial product that have gotten a lot of bad press over the years, leaving many people who could potentially benefit from this type of loan with negative associations and a bad taste in their mouths. But what’s so wrong with this federally-insured Home Equity Conversion Mortgage (HECM) program? Is it really as bad as some media...
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