Our reverse mortgage blog offers the latest industry news and insights to help you determine if a reverse mortgage is right for you. If you're looking for reverse mortgage calculators, be sure to check out our reverse mortgage calculator page.
What happens to a reverse mortgage after death? Do the heirs get left with a big mess to clean up? Does the bank end up getting the house? Many homeowners are (rightfully) concerned about the legacy they’ll leave as a result of getting a reverse mortgage. Fortunately, the reverse mortgage is designed with both the … Read More >>
Nobody likes nasty surprises when they’re already committed to something. Are there any lurking surprises that can force repayment of your reverse mortgage when it reaches a certain balance? Do you need to worry about your balance hitting a reverse mortgage limit? I haven’t seen this question for a while, but it’s come up several … Read More >>
A reverse mortgage is a powerful financial tool because it brings home equity into the retirement planning picture. In this article, I want to lay out my own reverse mortgage retirement plan. If you’re like many people, you may be surprised that I’ve included a reverse mortgage in my retirement plan. After all, aren’t reverse … Read More >>
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 >>
Is retirement with a mortgage payment a good idea? Or is it just flushing your hard-earned retirement income down the drain? If you’re like many people, you may have refinanced your mortgage in the past few years to take advantage of insanely low interest rates. You may also have chosen a fixed 30-year mortgage. That’s … Read More >>
If you’re an American homeowner 62 or older, the HECM reverse mortgage purchase program enables you to finance a home without a mortgage payment. Sound crazy? Read on! Most people know the HECM as a tool for tapping into the equity of a home they already own. Few people know that you can also use … Read More >>
Nobody wants to run out of money and be financially shipwrecked in retirement. Unfortunately, there is a lurking and potentially devastating danger out there that can wreck even the best of retirement plans. In this article, I’d like to lay out a unique and little-known strategy (even to financial planners) that can help protect your … Read More >>
Many seniors have the impression that reverse mortgages are expensive – mainly because of the closing costs. Yes, depending on the scenario, reverse mortgage closing costs can sometimes be pricey, but not always. Regardless of what the closing costs are, the overall cost of a reverse mortgage is often comparable to other common retirement and … Read More >>
I am very pleased to announce an enhanced MyHECM.com that will offer new features to help connect seniors, their advisors, and their families with the resources they need to help them achieve their financial goals. We may be a little biased :), but we think MyHECM.com is already the best informational resource online about the … Read More >>
