How to Build a Better Reverse Mortgage Financial Assessment

Posted by & filed under Reverse Mortgage.

  Reverse Mortgage Financial Assessment HUD announced that effective with all new case numbers issued on March 2, 2015, all borrowers would be subject to the New Reverse Mortgage Financial Assessment as outlined in the Mortgagee Letters. The changes to the program are sweeping and as of the writing of this announcement, we have not even had… Read more »

Are Reverse Mortgages A Scam?

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reverse mortgages scam

Love them or hate them reverse mortgages are here to stay.  We typically see reverse mortgage commercials on tv portrayed by some type of tv personality or celebrity, so it’s no surprise when people are a bit skeptical. Reverse Mortgages – Scam or Real? To help us understand if reverse mortgages are a scam we… Read more »

Reverse Mortgages Can Be a Useful Financial Tool

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reverse mortgage

Older homeowners often use reverse mortgages to pay off their traditional mortgages so they can get rid of their monthly house payments. Is that a wise strategy? Reverse mortgages have gained a bad reputation over the years, but they can be a useful financial tool to seniors when used appropriately, said David Johnson, associate professor… Read more »

Reverse Mortgage Deal Needs Scrutiny

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reverse mortgage deal

Q: I’ve seen commercials on TV recently for reverse mortgage deals. Are they legitimate? Also, how much money would someone receive on a house worth $200,000? – O.S., Hope Mills   A: You should carefully consider any financial deal, including – and perhaps especially – those you see in television commercials.   Generally speaking, reverse… Read more »

Reverse Mortgage Benefits Can Go a Long Way

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reverse mortgage benefits

For retirees looking to use their homes as income during retirement, they have one or two choices: either downsize or get a reverse mortgage, according to a new ebook from the Center for Retirement Research at Boston College. The booklet, Using Your House for Income in Retirement, is filled with infographics, definitions, examples and other… Read more »