You’ve probably heard the rumors, but what is a reverse mortgage really? We’ll get you up to speed on the most important reverse mortgage basics here.
Is a reverse mortgage right (or wrong) for you? We'll cover the most important reverse mortgage pros and cons you need to be aware of.
The reverse mortgage is a highly misunderstood product. We’ll address the most common myths and misconceptions that you may have heard.
The reverse mortgage has been around longer than you may realize. Learn the history of the reverse mortgage and how it evolved into what we know today.
The reverse mortgage comes with a vocabulary all it’s own. Learn the most common terms and meanings with our reverse mortgage glossary.
The HECM reverse mortgage can impact your financial well being in a positive way. Learn how with these case studies based on real-world scenarios.
Is a reverse mortgage right (or wrong) for you?Get the inside scoop on how a reverse mortgage really works in The Reverse Mortgage Revealed, by Mike Roberts, the founder of MyHECM.com. This book is well-written, easy to understand, and jam packed with information and insights that only an experienced industry professional can offer. Get it today at Amazon.com!
- What is a reverse mortgage? How does it really work? Is it right (or wrong) for you? An experienced industry veteran and published author explains how this unique home loan product can unlock your ... Read More >
- Can you get a reverse mortgage with bad credit? Yes, you can get a reverse mortgage with bad credit, but there are some caveats. Reverse mortgages are more forgiving from a credit standpoint than ... Read More >
- You've probably seen the reverse mortgage commercials with Henry Winkler and Tom Selleck. They make reverse mortgages sound pretty good, don't they? But is a reverse mortgage as good as they say? Are there ... Read More >
- What is a HECM loan? How does it work? How can it help empower your retirement? A highly experienced industry veteran explains the ins and outs of how this unique loan product can potentially ... Read More >
- What happens to a reverse mortgage after death? Do the heirs inherit a big mess? Does the bank get the house in the end? Many homeowners are (rightfully) concerned about the legacy they'll leave. ... Read More >
- Manufactured, mobile, and modular homes are eligible for a reverse mortgage as long as they meet certain requirements. We'll explain what those requirements are and how to get a reverse mortgage on a manufactured ... Read More >
- What is a CAIVRS check? How does it impact you when applying for a mortgage? A CAIVRS check is an important underwriting requirement that mortgage lenders must complete before they can close a federally-backed ... Read More >
- A reverse mortgage is a great financial solution, but it's not always the right fit. Is it right (or wrong) for you? An industry insider explains reverse mortgage pros and cons and what to ... Read More >
- Are you a good candidate for a reverse mortgage? Find out here! We'll cover the basic reverse mortgage requirements to help you determine if a reverse mortgage is right for you. Congratulations on looking ... Read More >
- The reverse mortgage is a fantastic product, but it's not the right solution for everybody. Is it right (or wrong) for you? In this article, we'll cover key reverse mortgage information to help you ... Read More >
- So, what is the current principal limit on a reverse mortgage? It depends! The fact that you're asking this question demonstrates an understanding on your part that the principal limit is not a set ... Read More >
- A home equity conversion loan enables seniors to tap into their home's equity and use it to improve their retirement lifestyle and financial security. You've probably seen the ads with celebrity spokespeople extolling the ... Read More >
- A home equity conversion mortgage is a unique home loan product that offers seniors the ability to tap into home equity without giving up ownership of the home or taking on a mortgage payment. ... Read More >
- If you're over 62, it's possible to finance a home purchase with no mortgage payment using the HECM for purchase. You bring your down payment and the bank finances the rest with no mortgage ... Read More >
- What is the minimum credit score for reverse mortgage financing? Can you qualify for a reverse mortgage with bad credit? You may be surprised by the answers to these questions. In the traditional "forward" ... Read More >
- Looking for a good HECM loan definition? You're in the right place! I'm a veteran of the HECM industry and will offer a good HECM loan definition and an explanation of how a HECM ... Read More >
- How does a HECM loan work? Great question! The HECM is a fantastic home loan program that enables seniors to convert a portion of their home's value into cash that can be used for any ... Read More >
- What is the reverse mortgage maximum loan amount? You may be surprised to learn that there is no maximum loan amount. The reverse mortgage is completely open-ended as long as you meet your program ... Read More >
- What is the interest rate on a reverse mortgage? Great question! And the answer is, it depends! The rate you're offered depends on conditions in financial markets, lender pricing, and what reverse mortgage product ... Read More >
- A reverse mortgage amortization schedule is an important document that details how a reverse mortgage changes over time. Most reverse mortgage borrowers are concerned mainly with how much they can get at the start ... Read More >
- How much equity is required for a reverse mortgage? Well, that depends. There are a few different factors that determine the equity requirements for a reverse mortgage to be workable. A reverse mortgage is ... Read More >
- How much can I get on a reverse mortgage? Well, that depends! A reverse mortgage is not a one-size-fits-all home loan, so the amount differs from one person to the next. We'll cover the ... Read More >
- Selling a house with a reverse mortgage is straightforward. We'll explain how the process works and the most important things to know. Can you sell a house with a reverse mortgage? Absolutely! The ... Read More >
- Can you pay back a reverse mortgage early? Or are you locked in for life once the loan is complete? We'll separate fact from fiction and explain your options for paying off your reverse ... Read More >
- A reverse mortgage is a great tool for converting home equity into cash in retirement. What is a reverse mortgage? How does a reverse mortgage work? An experienced and successful industry veteran offers the ... Read More >
- How do banks make money on reverse mortgages? What's in it for the lender? These are great questions that are commonly asked by seniors exploring a reverse mortgage. Many retirees exploring a reverse mortgage ... Read More >
- NOTE: This is a basic reverse amortization calculator that calculates how interest accrues on a negative amortization loan. If you're looking for a reverse mortgage calculator, check out our reverse mortgage calculator page. [myhecm-rmcalculator-reverseam-page ... Read More >
- What if I said screwdrivers were bad and nobody should use them? You'd probably think I'm nuts, right? Or, what if I said that hammers were terrible and should always be avoided? Such a ... Read More >
- You're retired and you need cash. It's reverse mortgage vs HELOC, but you're not sure which to go with. Which one is better? What are the potential pitfalls of one versus the other? We'll ... Read More >
- The reverse mortgage line of credit growth feature is probably one of the best aspects of the HECM reverse mortgage program. If you owe little to nothing on your home, the reverse mortgage line ... Read More >
- Reverse mortgage insurance for the HECM program is designed to protect both borrower and lender if the home isn't worth enough to settle the entire balance at the time the loan is due and ... Read More >
- The HECM reverse morgage industry is a relatively small niche of the broader mortgage industry, so it's not quite as easy to find current HECM interest rates online as it is for traditional forward mortgages. ... Read More >
- You may be surprised to learn that reverse mortgage history began as early as 1961 when the first reverse mortgage was issued by a Savings & Loan in Portland, ME. Various types of reverse ... Read More >
- The one constant in life is change, right? It's no different in the reverse mortgage industry. Reverse mortgage age minimums have changed significantly in recent years. Today, they're more flexible than ever. It used ... Read More >
- An FHA-insured HECM reverse mortgage is not perfect for everybody, but it can be a great financial tool for the right candidate. Unfortunately, many seniors who could benefit from a reverse mortgage never take ... Read More >
- I've been in this business for a number of years and have talked with thousands of people about the HECM reverse mortgage. The following are some of the most common reverse mortgage FAQs (frequently ... Read More >