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.
One of the big HECM reverse mortgage disadvantages you may hear in the news media or read about online is the high fees. Yes, the fees can be high, but it doesn’t mean they always are. As with many things reported on in the media, there’s a little more nuance to the issue than the headlines would imply. … Read More >>
If you’re 62 or older and own a home, a HECM reverse mortgage can be a fantastic way to supplement your existing retirement income. You can receive tax-free monthly paychecks from your home’s equity for a set period of time or for the rest of your life, depending on your financial needs and goals. And the best … Read More >>
If you’re 62 or older, a HECM reverse mortgage is a fantastic tool for financing home improvements because it doesn’t require a monthly payment and you don’t have to pay the money back for as long as you live in the home. No other home loan program out there offers that. Your obligation under the HECM program is … Read More >>
What if I was to say that you could substantially increase your available liquid retirement assets by tens or hundreds of thousands of dollars with a little paperwork and a few months worth of time? What would that mean for your retirement? What would that mean for your financial security? Believe it or not, it can be done, … Read More >>
The quality of your lifestyle in retirement is largely determined by your disposable income, or the income you have left over at the end of the month after all the mandatory monthly bills are paid. If you’re carrying a lot of debt, those payments could be holding you back from the lifestyle you really want. Many … Read More >>
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 >>