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-Written by Robin Rosa MLO #1402813, Reverse Mortgage Specialist Much damage has been done to the U.S. economy in the last two years. The COVID-19 pandemic coupled with shutdowns and central banks’ efforts to stimulate the economy have left the financial markets and world economies on the precipice of a deep recession. To make matters…

If you are considering applying for a reverse mortgage , you probably have done some research or have a friend who has one. Reverse mortgages are an excellent way for people 62 years and older to convert their home equity to cash that they can use for additional retirement funds, home improvements, or medical expenses.…

What does it take to consider yourself a specialist in reverse mortgages? This answer is subjective: there is no definitive answer to this question. Anyone with an MLO license (even if they have never done a reverse mortgage before) can call themselves a reverse mortgage specialist. The client and their support team (friends, professional advisors,…

Understanding How Reverse Mortgages Work You have probably seen commercials and heard your friends discuss reverse mortgages. If you still can’t grasp how reverse mortgages work, we have broken down the basics in this article. Reverse mortgages – also called home equity conversion mortgages (HECM) – are loans for seniors 62 and older who want…

You may have heard about reverse mortgages and thought they weren’t suitable for you. You may think they are too confusing or that you probably won’t qualify. However, reverse mortgages offer simple solutions to homeowners 62 and older who want extra funds for paying bills, traveling, or assisting in medical expenses by using the equity…

Reverse mortgages have become popularized by television commercials anchored by celebrities. To some, they may seem too good to be true. But reverse mortgages are not all Hollywood glitz and glamour. They are a way for homeowners, now as young as 55 or older, to convert the equity in their homes into spendable cash. Though…

For adult children who inherit their parents’ housing assets with FHA (Federal Housing Administration)-insured reverse mortgages, it can feel overwhelming. The impulse is often to find out how to get out of any mortgage debts immediately; it is hard to deal with our loved ones debt, especially while grieving. To answer the most common questions…

HECM (Home Equity Conversion Mortgages) or Reverse Mortgages as they are known, were formally established in the late 1980s by the federal government’s Department of Housing and Urban Development (HUD) after lobbying efforts pushed for seniors to be able to cash in on their home without having to sell. As homeownership and the American Dream…

There are many mortgage lenders operating nationally which operate off of successful wholesale lending models, some of which have the resources to advertise phone numbers attached to centralized call centers. In addition to providing a lot of loan volume, these companies can also be powerful sources of education for reverse mortgage borrowers across the country,…

It is no secret that our elders are at an increased risk of fraud and often lose more in a fraud event than other demographics. Today June 8th, 2021, the Portland, OR FBI released an article outlining one small subset of elder fraud: Real Estate Fraud. The article detailed schemes in which a fraudster takes advantage of…