Uncategorized Archive

Reverse Mortgages: A Fine Line

Author: | Categories: Uncategorized No comments
Many people are instantly taken aback when they hear about all of the benefits to reverse mortgages. Sure, they are fantastic plans and when used correctly, can be a fantastic part of any retirement strategy. This being said, if you are not careful when signing up for a reverse

Reverse Mortgage Plans: HECM Saver vs. HECM Standard

Author: | Categories: Uncategorized No comments
If you are over the age of 62 and interested in getting a reverse mortgage, you may be confused as to where to start. The entire process can be slightly overwhelming—after all, you have to think about options like lump sum vs. line of credit and fixed rate vs.

What Is HECM and What Does It Mean to Me?

Author: | Categories: Uncategorized No comments
HECM is referring to reverse mortgages that are backed, or insured, by the government. They are typically backed by both FHA and HUD, and almost without exception, reverse mortgages are through this channel. Because of this, learning more about HECM, FHA, and HUD is incredibly important for someone interested

Reverse Mortgages May See Some Government Reductions

Author: | Categories: Uncategorized No comments
Reverse mortgages, or plans that allow seniors (age 62 or older) to essentially sell off equity in their homes while still having full residence. These mortgages are often viewed as scams as they pay an average of less than fifty percent of the value of the equity and incur

Reverse Mortgage Downfalls—Think Before You Dive In

Author: | Categories: Uncategorized No comments
Reverse mortgages are often a last resort for seniors struggling financially or sometimes a part of a solid retirement plan. The benefits sound almost too good to be true—you get to live in your current home while still receiving payment for the equity of that same home. What people

Reverse Mortgaging: A Basic Overview

Author: | Categories: Uncategorized No comments
Many seniors reach a point in their life where they are struggling financially but have few options to generate more income. This is often because of an unexpected crisis or due to a retirement at an earlier age than necessary. Regardless of the reasoning behind it, these seniors often

Reverse Mortgage vs. Selling Your Home

Author: | Categories: Uncategorized No comments
Seniors who are struggling financially have a whole host of options to try to turn around their situation. Among these possibilities include selling your home, downsizing, sharing space, and reverse mortgages, which are possibly the least well-known and most underutilized tool. If you feel backed into a corner and

At What Age Should I Get a Reverse Mortgage?

Author: | Categories: Uncategorized No comments
As many seniors near retirement, they are searching for that extra little supplementary income to push them over into a life of relaxation. Reverse mortgages can easily be that income; it comes, though, at a price. Some negatives include the fact that you will not have an estate to

Finding the most competent mortgage interest rates

Finding the most competent mortgage interest rates In order to find the best and most exclusive mortgage rates, you should first search for the best low interest loan to finance mortgage. You should always ensure that you are able to carefully analyze loan program types and the terms stipulated

The Reverse Mortgage Process

Author: | Categories: Uncategorized No comments
Are you ready to take out a reverse mortgage? Well if you are indeed prepared to cash in your home’s equity, here are the things you need to know and accomplish. Do your reverse mortgage homework and research as thoroughly as possible. Though you may be mentally prepared to