Reverse mortgages can be a valuable financial tool for seniors looking to tap into the equity in their homes. However, these types of loans come with a number of potential challenges and risks that can impact your inheritance and estate planning goals. In this blog, we’ll explore some of the key challenges of reverse mortgages… Read more »
Are you struggling with high levels of debt? Are you a homeowner who has been searching for a way to pay off your debt and improve your financial situation? If so, a reverse mortgage may be a viable option for you. Reverse mortgage payments are a helpful financial tool for homeowners to access their home… Read more »
Reverse mortgages have been helping seniors access their home equity to fund retirement for some time. However, the evolving mortgage industry now offers newer and more innovative reverse mortgage products. This blog post explores some of these latest products to help seniors fund retirement. Before we dive into the innovative products, let’s first discuss the… Read more »
A mortgage is a significant financial commitment that most people make in their lifetime. With the high costs involved, it’s important to find ways to save money on your mortgage. In this blog post, we’ll discuss some smart strategies that you can use to save big on your mortgage. These tips and tricks will help… Read more »
In 2017, the FHA introduced new HECM program rules, including a lender requirement to assess borrower ability to pay property taxes and homeowner’s insurance. Lawmakers designed these rules to safeguard borrowers from losing their homes because of unpaid taxes or insurance. In addition to federal regulations, many states have their own laws governing reverse mortgages…. Read more »
Reverse mortgages are popular among older homeowners who want to supplement their retirement income or pay for expenses like medical bills or home repairs. The cash to close is essential in a reverse mortgage as it’s the upfront amount required to initiate the loan. In this blog, we’ll explore what cash to close is and… Read more »
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