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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…

By Aaron Morris   June 15th is World Elder Abuse Awareness Day, and COVID 19 has only increased our need for thoughtful and diligent work.   Elder abuse includes far more than physical harm, and during the growing isolation of the last year, rates of fraud, neglect, and financial exploitation increased. The National Center on Elder Abuse (NCEA)…

An Oregon-based reverse mortgage brokerage has decided to mark a milestone of customer savings through a $1,000 donation to a local senior center, commemorating the savings it has provided to its reverse mortgage customers in terms of the amount of forward mortgage payments they have been able to forego as a result of getting a…

NW Reverse Mortgage celebrates milestone, donates $1,000 to nonprofit organization In celebration of hitting an amazing milestone, an Oregon company donated to a Gresham nonprofit center dedicated to uplifting local seniors. Northwest Reverse Mortgage presented a check for $1,000 to the Gresham Senior Center Wednesday morning, May 5. This donation commemorates the company saving customers…