Reverse Mortgage Blog

How does the homeowner leaving the home affect the reverse mortgage? Handling the estate of a parent or loved one is often a very emotional and stressful time for everyone involved. With everything else going on, dealing with the reverse mortgage servicer is often not the first thing on the list. Even though that may be…

In the realm of retirement planning, many individuals find themselves unprepared financially. A significant portion of seniors’ wealth is tied up in their home’s equity. For numerous older Americans, accessing this equity through a reverse mortgage has provided a valuable financial lifeline when needed. While the concept of a reverse mortgage might seem unfamiliar, it’s…

Compared to single-purpose loans and traditional home equity loans or lines of credit, HECM (Home Equity Conversion Mortgage) loans are particularly advantageous for the senior borrowers they serve. HECM advantages can be seen in many different scenarios but the 5 HECM advantages listed below are some of the best features of the HECM  loan. HECM loans…

 It is a great idea to audit your monthly expenses at least once a year,  especially if there has been a lifestyle change. A lot can change in a year- costs, your lifestyle, your needs, your priorities; It is easy to let your spending spin out of control fast. Here is a list of some…

Reverse mortgage loans are a helpful tool for seniors to consider as they plan for retirement. They allow seniors to draw on the equity they’ve built in their homes — while still retaining full ownership. Reverse mortgage loans are an excellent alternative to other loan or credit options and are tailored specifically to seniors, but…

Downsizing can be an exciting experience. It is a time to take control of your future, hone in on your top priorities and decide what is truly important to you in life. Many people plan to downsize one day and reap the benefits of their hard work through the sale of assets, and a change…

As of March 27, 2020 FHA has released new guidelines to their appraisal requirements that are in effect until May 17, 2020. The new guidelines allow for FHA appraisals, including those for reverse mortgages, to be done without entering the clients home in order to avoid contact. They will now be doing Exterior Only inspections…

The current global situation has taken us all by surprise, leaving many unprepared to cope with its challenges. As we continue to weather this pandemic, weeks of sheltering in place have highlighted shortages in essential supplies, including food and medications. Among the most vulnerable groups during this outbreak are seniors who are financially insecure, and…

Oregon’s housing crisis is a pressing concern, and the influential role of baby boomers is undeniable. The state currently faces an alarming shortage of nearly 6 million homes, a complex issue fueled by a convergence of factors creating a challenging environment for home inventory. These factors encompass: The weight of student debt can hinder qualification…