Home Equity Loan Versus the HECM

You’re retired or retiring.  Your high power earning opportunities have peaked.  Your home mortgage is nearly paid off.  You want to enjoy the fruits of your labors.  What if you wanted some extra cash would you qualify for a mortgage to pull cash out of your home?...

Apple Pie and Equity

I was discussing with a very knowledgeable friend about what he would do if he had a kazillion dollars.  He listed off the trips, the cars, the houses.  “I wouldn’t need a reverse mortgage then!” he exclaimed. Really?  I actually think you might still really want...

Appraisals ~ Gotta Love ‘Em!

An appraisal is one part of the reverse mortgage process.  Since reverse mortgages also known as HECM’s are FHA insured loans, FHA requires the home to meet particular standards, not only in value, but also condition.  Knowing ahead of time what an FHA appraiser will...

Fear and Loathing in Reverse Mortgages?

Perhaps your parents are aging in place and have come to accept life’s daily gifts of a dwindling pension; if they even have one, never increasing Social Security income, and keeping their financially dependent goals as dreams.  Perhaps they are chafing at the idea of...