Buying a Home with a Reverse Mortgage

Most frequently a reverse mortgage is used to convert equity in your current home into available cash.  Did you know you can also use a reverse mortgage to PURCHASE a home?  More importantly, you can buy your dream home without having a monthly mortgage payment at...

What Happens if We Have Another Real Estate Bubble?

Remember when, before the last real estate bubble, you had a home equity line of credit?  What happened when property values dipped?  Or, were you one of the many homeowners seeking to refinance to take out money you’ve worked so hard for trapped as equity in your...

Change is a Good Thing!

If you’ve been researching Reverse Mortgage programs you’re certain to have heard about changes happening October 2nd.  In fact, the last 2 weeks of September have found nearly every National Reverse Mortgage counseling service completely booked so that those seeking...

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...

Reverse Mortgage Basics

Your friends might have one.  Your sister has one.  Even your smart-alecky brother has one and he raves about it.  The television commercials make it sound too good to be true.  You ARE the sharpest tool in the shed and yet, you just don’t get it.  Let’s break down...

Reverse Mortgage and Debt Solutions

Following the wildest economic ride most of us have ever experienced many find retirement plans now require remaining employed, if possible, to pay off debt or to afford simple daily expenses.  Most frequently the baby boomer generation has done all the right things...