Downside of Reverse Mortgages

What is the Downside of Reverse Mortgages?

The HECM reverse mortgage is a great retirement tool, but it’s not perfect for every financial situation. Like any product, it comes with pros and cons. In this article, we’ll cover the possible downside of reverse mortgages and potential pitfalls to watch out for.  You’ve likely seen the TV commercials with famous pitchmen like Tom … Read More >>

HECM Reverse Mortgage Line of Credit Jack

Should I Get a Reverse Mortgage Now or Wait?

A man who I’ll call Jack contacted me about using a reverse mortgage to pay for future medical expenses. Jack made it clear from the get-go that he didn’t want a reverse mortgage now. He just wanted to explore some options and call back in five years to set it up then. Jack basically wanted … Read More >>

Are Reverse Mortgages a Good Deal?

What a Reverse Mortgage and a Legendary Airplane Have in Common

In early 1942, the United States was at war with Japan. Lt. Colonel James “Jimmy” Doolittle had been given the responsibility of planning a raid to strike back at Japan for the Pearl Harbor attack. The bombing raid wasn’t expected to do a lot of physical damage, but it would boost American morale and strike … Read More >>

How the Smiths Used the HECM Reverse Mortgage

What Does the Ideal HECM Reverse Mortgage Candidate Look Like?

The HECM reverse mortgage is a fantastic home loan product. Though it can benefit seniors with a variety of financial goals and needs, what does the ideal reverse mortgage candidate look like? Who is the program most ideally suited for? I’ve helped hundreds of seniors get reverse mortgages over the years. Though a reverse mortgage … Read More >>

EIR and PLF Changes Since January

The Two Benefits of Falling Interest Rates That May Surprise Reverse Mortgage Borrowers

It’s a crazy world out there right now. Entire nations locked down, people confined to their homes, the stock market crashing (then rebounding), businesses shut down, and unemployment rising. If there’s one silver lining in all of the craziness, it’s falling mortgage rates. According to the Freddie Mac Primary Mortgage Market Survey, average 30-year fixed … Read More >>