It’s important for seniors who are taking on a reverse mortgage to know their funds are protected not only from the downfall of the company they chose to service their loan but also from the pitfalls of a sagging real estate market as we have been experiencing for the past several years. When a senior [...]

A reverse mortgage credit line is an excellent option for those seniors who do not need all of the cash from their loan at one time. One thing to keep in mind is that the credit line option is only available with an adjustable interest rate—the fixed rate option is for those who want or [...]

The idea of refinancing a reverse mortgage is not one that occurs to all seniors. It may be because they don’t know they can do it or because they just don’t have enough information to know if it’s the right choice for them. It’s important to make sure you have all the information you need [...]

As you approach retirement age you may want to think about a reverse mortgage loan to supplement your retirement income. Before you make a decision you need to weigh your options in order to determine if a reverse mortgage is right for you. It’s important for you to first be aware of the qualification [...]

Talk has gone on for some time about the possibility of a new reverse mortgage product from HUD. It seems that recent developments indicate that it is on the horizon, but just how soon it will be available is not yet clear.
New Reverse Mortgage Product Announced
At a conference of the Mortgage Bankers [...]

If you’re 62 years old or older, own the home in which you live and need additional cash to maintain a comfortable lifestyle, a reverse mortgage may be just what you need. Why do they call it a reverse mortgage? It is called a reverse mortgage because you cash in on the equity of your [...]

Although condos have qualified for reverse mortgages for some time, the Department of Housing and Urban Development issued Mortgagee letter 2009-19 on June 12th that changed guidelines in the approval process. This new letter makes changes to the approval process for not only condominium mortgages but other home equity conversion mortgages (reverse mortgages) that are [...]

Seniors are often the target of legislation and it seems that they will once again be hurt by new legislation before Congress concerning reverse mortgages. The Appropriations Act 2010 requires that new policies will be set concerning HUD’s Home Equity Conversion Mortgage (HECM), or reverse mortgages.
The Reverse Mortgage Problem
As the money was being [...]

In an effort to keep all lenders apprised of everything that is going on within the reverse mortgage industry, the National Reverse Mortgage Lenders Association sponsors an annual conference. This year the conference will be held in San Diego from November 18-20 at the Manchester Grand Hyatt Hotel. The conference has a great array of [...]