Can a Reverse Mortgage Be Foreclosed On?

Can a Reverse Mortgage Be Foreclosed On?

Can a reverse mortgage be foreclosed on? Definitely! Like any other home loan, the bank will pursue foreclosure if the borrower fails to meet their obligations under the loan. Interestingly, foreclosure is also a normal part of the program that applies even if the borrower meets their obligations perfectly. Sound strange? Read on and I’ll … Read More >>

Why a Reverse Mortgage May Not Be Available in the Future

Are Reverse Mortgages Bad?

Are reverse mortgages bad? Well, maybe. Or, maybe not. It depends! What is the reverse mortgage being used for? What is the financial situation and goals of the person seeking the reverse mortgage? Like any financial product, the reverse mortgage isn’t inherently good or bad. It’s simply a financial tool. It’s “goodness” or “badness” is … Read More >>

Is a Reverse Mortgage a Good Idea?

Is a Reverse Mortgage a Good Idea?

Is a reverse mortgage a good idea? Maybe, maybe not. It depends! What is the purpose of looking into a reverse mortgage? What are your goals and financial situation? Like any financial product, the reverse mortgage isn’t inherently good or bad. It’s simply a financial tool. It’s “goodness” or “badness” is determined by how it’s … Read More >>

Can you get out of a reverse mortgage?

Can You Get Out of a Reverse Mortgage?

Can you get out of a reverse mortgage any time you like? The short answer is yes! However, there are a few things you may want to consider before doing so. Unless you’re selling your home, there probably aren’t too many scenarios where it would make sense to pay off a reverse mortgage early. But before I … Read More >>

Consider a Reverse Mortgage to Cut Taxes in Retirement

Marketwatch: Consider a Reverse Mortgage to Cut Taxes in Retirement

Though the HECM reverse mortgage has been around for a long time, it’s only in more recent years that reputable media sources and financial advisers have started to recognize the potential benefits of a reverse mortgage for many retirees. No longer is it a financial tool only for the needy and desperate (though it can often help … Read More >>