Using a reverse mortgage for purchase of a new home with one down payment and no monthly payments
A reverse mortgage for purchase is a financing method where the home’s equity covers the cost of the acquisition.
Reverse mortgage interest rates: fixed versus adjustable and why the choice limits your payout
Reverse mortgage interest rates are determined by the specific loan structure chosen by the homeowner.
The HECM reverse mortgage insured by FHA: mortgage insurance, limits and counseling rules
A HECM reverse mortgage is the FHA-insured reverse mortgage for homeowners who meet age and occupancy requirements, paid out as a lump sum, monthly payments or a…
How do you pay back a reverse mortgage when you move, sell or leave it to your heirs
Paying back a reverse mortgage occurs when the homeowner vacates the property, sells the home, or passes away.
How do you pay back a reverse mortgage when you move, sell or leave it to your heirs Read More »
Pros and cons of a reverse mortgage weighed against your plans to stay or leave
Pros and cons reverse mortgage depend on your intended residency duration and home equity.
Pros and cons of a reverse mortgage weighed against your plans to stay or leave Read More »
Reverse mortgage requirements for the borrower, the property and ongoing taxes and insurance
Reverse mortgage requirements include age eligibility, property ownership, and financial standing.
What happens in reverse mortgage counseling and how to find a HUD-approved counselor
Reverse mortgage counseling is a mandatory consultation for borrowers seeking a Home Equity Conversion Mortgage (HECM).
What happens in reverse mortgage counseling and how to find a HUD-approved counselor Read More »
Reverse mortgage refinance: when a new HECM makes sense and the benefit test it must pass
A reverse mortgage refinance is a viable strategy when current loan terms provide less liquidity or higher costs than modern options.
Reverse mortgage scams that target older homeowners and the warning signs to check
Reverse mortgage scams involve predatory tactics like forged documents or hidden fees that strip home equity from seniors.
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How does a reverse mortgage work when you die, and what your heirs can do with the house
How does a reverse mortgage work when you die is governed by the non-recourse clause of the loan agreement.
How does a reverse mortgage work when you die, and what your heirs can do with the house Read More »