reverse
Reverse Mortgages, Bank or a Broker?
After 31+ years Mortgage Banking experience working for large banks and Mortgage Bankers, we decided it was time to start serving our senior clients as mortgage brokers. When asked why we chose to do this rather than accepting positions with large banks, we tell people it was an easy decision to make, we love what [...]
An Overview on Reverse Mortgages
A Reverse Mortgage HECM, sometimes referred to as a Home Equity Conversion Mortgage (HECM), is a special type of home mortgage that lets a homeowner convert a portion of the equity in his or her home into money in their pocket. Simply put, a reverse mortgage is the exact opposite of a regular mortgage. The [...]
To Sell or To Reverse?
Many people are not aware of all the opportunities available to senior borrowers with the Reverse mortgage program. For example, did you know that HUD does not require any title seasoning or seasoning for time off the market when doing a Reverse Mortgage? What exactly does this mean to senior borrowers? It [...]
All About Reverse Mortgages – Learning The Basics
Reverse Mortgages, sometimes referred to as a Lifetime Mortgage, can give financial support to senior citizens after they have retired. But finding all about reverse mortgages is important before you decided if they are for you. These mortgages are made available to individuals of 62 or older to free up some of the equity in [...]
NBC Nighly News: Reverse Mortgage Ripoff?
I just finished reading an article about a network news program that did a negative report on reverse mortgages, citing an incident in Los Angeles of a senior borrower who was talked into buying annuities that did not mature until the year 2033 without a substantial penalty. I saw the actual Nightly News piece with [...]
How Reverse Mortgages Work
Reverse mortgages were created in order to help ease the financial burden on aging seniors. A reverse mortgage is a type of financial instrument that permits home owners over the age of 62 to gain access to the money they have accumulated as home equity.
How a reverse mortgage works is that the lender makes payments [...]