A HECM Line of Credit Example

A HECM Line of Credit Example

The HECM reverse mortgage line of credit is a great financial tool for many seniors. If you owe little to nothing on your home, the HECM line of credit can turn a portion of your home’s value into a tax-free retirement “account” that will grow larger over time. Let me show you how with a HECM line of credit example. But before we do that, let’s first cover a few … Read More…

The One Simple Question That Could Get You Thousands More From a Reverse Mortgage

The One Simple Question HECM Reverse Mortgage

What if I told you there was one simple question that could net you thousands (or maybe tens of thousands) more from a reverse mortgage. Would you want to learn more? If so, read on! Now, before I fill you in on what this question is, let me cover a few basics first. If you want to be a savvy reverse mortgage shopper, it’s essential that you understand how the … Read More…

How Much Equity Do You Have to Have to Qualify for a Reverse Mortgage?

How Much Equity Do You Have to Have to Qualify for a Reverse Mortgage?

How much equity do you have to have to qualify for a reverse mortgage? Great question! The answer is: it depends! There’s no set amount that everybody qualifies for, so there’s no set amount of equity you need to make a reverse mortgage workable. How much you qualify for depends on several factors, including your home’s value, age of the youngest borrower, current interest rates, the program you select (variable-rate … Read More…

Growth of Principal Limit: What It Is and How It Works

Growth of Principal Limit

Growth of principal limit is a key feature of a reverse mortgage, but few people really understand how it works. I’m going to get a little technical here, but hang with me. If you grasp what I’m about to cover, you’ll have a better understanding of the reverse mortgage than many industry professionals. Growth of principal limit really is the key machinery that makes a reverse mortgage work. Before we … Read More…

Introducing Our Reverse Mortgage Purchase Calculator

Reverse Mortgage Purchase Calculator

Did you know that we have a reverse mortgage purchase calculator? If not, don’t feel bad! We rolled it out a few months ago, so it’s still pretty new. Our reverse mortgage purchase calculator is a great way to estimate how much of a down payment you’ll need to purchase a home with a HECM reverse mortgage. Unlike most reverse mortgage calculators online, ours is free and simple to use … Read More…

The Reverse Mortgage Line of Credit is Fantastic. Here’s Why.

Supplement Retirement Income with Reverse Mortgage

The HECM reverse mortgage line of credit is simply fantastic. It’s a shame that so many seniors and their advisors and family members remain unaware of its potential benefits. If you’re at least 62, the HECM line of credit can substantially enhance your lifestyle and financial security in retirement. We’re living longer than ever today. It’s essential to have as many financial resources in retirement as possible. What if you’re … Read More…

Pros and Cons of a HECM Reverse Mortgage

Pros and Cons of a Reverse Mortgage

Like any financial product, there are some pros and cons of a reverse mortgage that can make it a great option for some seniors and a less than great option for others. A HECM reverse mortgage isn’t necessarily the perfect solution for everybody, but for those that it is, it can be a fantastic option. Whether or not it makes sense for you depends on your financial goals and situation. Before … Read More…

How to Turn Home Equity Into a Liquid Tax-Free Retirement Account That Grows

FHA Changes to the Reverse Mortgage

What if I said there was a way to turn a large portion of your home’s equity into a liquid and tax-free retirement account that grows larger over time? Would you believe me? If not, I wouldn’t hold it against you! What I want to show you is a financial strategy for retirement that many people, including financial advisers, are completely unaware of. It’s 100% legitimate and is being used right now by … Read More…

How Does a Reverse Mortgage Work When You Die?

How does a reverse mortgage work when you die?

So, how does a reverse mortgage work when you die? This is a very common question from seniors considering a reverse mortgage. Many seniors want to know what happens to their home after they pass away and who gets the equity in the home. Others are concerned about the reverse mortgage creating hassles and headaches for their heirs.  Fortunately, the reverse mortgage is designed not only with seniors in mind, but … Read More…

What Happens to a Reverse Mortgage After Death?

Reverse Mortgage After Death

So, what happens to a reverse mortgage after death? This is one of the most common questions I hear from seniors who are considering getting a reverse mortgage. They’re concerned about what happens to a reverse mortgage after death and what it means for their home and heirs. Other seniors are worried that the reverse mortgage will create a big mess for their heirs to clean up. Fortunately, the reverse … Read More…