How a Reverse Mortgage works

What is a reverse mortgage and tell me how it works? Most people really have no idea how a Reverse Mortgage works. DENVER NEWS– Retirees often rely on savings, investments and Social Security to get by during the later years of life, but there’s another option that can help: The reverse mortgage. A reverse mortgage is a particular…

Senators Raise Questions About Reverse Mortgages and Trump Budget. If you have been waiting on a reverse mortgage, now might be the right time. A pair of senators from opposite sides of the aisle on Wednesday sent a joint letter to the Department of Housing and Urban Development, seeking clarification about a proposed change to…

Want financial security? Home equity and retirement accounts are key, by Robert Powell, CNBC, USA Today It might seem obvious, even simplistic. But having home equity and retirement accounts are key to most families’ financial assets and — by extension — retirement security. According to new research from the nonpartisan Employee Benefit Research Institute (EBRI),…

With Population Aging, Canada Sees Reverse Mortgage Promise When Canada released its 2016 census data earlier this month, media outlets took notice of one interesting tidbit: For the first time since Canada began taking surveys of its population in 1871, people older than 65 outnumbered children younger than 15. The margin was slim, with seniors…

Reverse mortgages and healthcare by By Alain Valles, CRMP, MBA, CSA. Obama-care, Trump-care, no-care The cost of healthcare, doctor’s visits, prescriptions, and forms to fill out when you’re healthy is enough to make you sick. But when a cold turns more serious, or a life event occurs, or a chronic ailment worsens then the care available…

True Life HECM Story. I have long been a fan of reverse mortgages — if they are done in the right circumstances and for the right reasons. Regular readers of this column know I always put my money where my mouth is. And in the case of reverse mortgages, I want to give you a very personal…

Financial Assessment for Reverse Mortgages Looks Better and Better. Financial Assessment is still working, only more so. The Federal Housing Administration’s new policy of requiring financial assessment of the borrower’s ability to pay has cut tax and insurance defaults by nearly three-quarters and serious defaults by almost two-thirds. These results are even better than the…

Trump’s Proposed Budget Would Lift Reverse Mortgage Cap. by Alex Spanko The Trump administration’s proposed 2018 budget for the Department of Housing and Urban Development would eliminate the cap on the number of reverse mortgage loans. “This change supports the significant improvements that have been made to the program to reduce risk to the MMI…

Seniors looking to downsize their homes may want to consider this reverse mortgage purchase option. Washington Post Real Estate By Benny L. Kass. Read story on Washington Post site The Home Equity Conversion Mortgage for Purchase allows you to buy a house using a reverse mortgage loan. Do you know that by 2060, the number of Americans…

Reverse Mortgages Questions by Forbes Magazine. Personal Finance. The Little Black Book of Billionaire Secrets. Next Avenue. Where grown-ups keep growing. Opinions expressed by Forbes Contributors Richard Eisenberg are their own. This piece is hopefully a beginning to answer your questions about Reverse Mortgages. You’ve likely seen the TV commercials for reverse mortgages, with the…