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.
Ted and Patricia, aged 67 and 64, respectively, live in Lake Forest, CA and are looking ahead toward retirement. Both are still working, Patricia as a nurse, Ted as a truck driver. They like their jobs, but they’ve been at them for a long time and are tired of the stress and long commutes. They … Read More >>
The HECM reverse mortgage is an FHA-insured mortgage program designed to give seniors access to a large portion of the value of their home without having to take on a mortgage payment or give up ownership of the home. The reverse mortgage is a home loan, so it does come with some basic eligibility requirements: You must be 62 or older. … Read More >>
1/1/2021 UPDATE: In 2021, the reverse mortgage industry will be transitioning to the CMT index instead of the LIBOR. The LIBOR is to be phased out across all financial markets by the end of 2021. The variable-rate HECM is the most popular product in today’s reverse mortgage marketplace. It’s more flexible and customizable than it’s fixed-rate counterpart … Read More >>
There are two main FHA-insured reverse mortgage products, the fixed-rate HECM and the variable-rate HECM. The fixed-rate HECM is generally the less popular of the two because it isn’t as flexible and customizable as the variable-rate HECM, but it is still a great reverse mortgage option for many people. It comes with the security and predictability of an interest rate that never changes, but the … Read More >>
Reverse mortgages do a lot of good for a lot of people every day, but unfortunately you never hear about that in the media. What you do hear about are the rare horror stories where something goes wrong and somebody gets burned by a reverse mortgage, either because they abused or the lender misled them about … Read More >>