Lately I have read a few articles that confirm a belief that I have held for a while.   At any age, unexpected health care costs can derail a person’s finances.  As we get older, however, health care and our finances are increasingly delicate issues.  “Health or Disability” was cited as a reason for looking into […]

According to AARP’s study, “Reverse Mortgages: Niche Product or Mainstream Solution?” by Donald L. Redfoot, Ken Scholen, and S. Kathi Brown, 90% of senior homeowners who had undergone HUD counseling classified themselves as being “satisfied” with their experience with reverse mortgage lenders.  This is certainly a positive statistic both for the reverse mortgage industry, as well as for homeowners […]

Reverse Mortgages are increasingly become a popular tool with senior homeowners to provide a more comfortable retirement.  But for those who decided against a Reverse Mortgage, what did they cite as their reasons? In part two of our article on the influences affecting seniors in their decision to get a Reverse Mortgage, we are looking at what reasons […]

Reverse Mortgages have become more and more common within the last few years, but are they right for you?  What we once thought of as a niche product with limited reasons to take one out, we are now seeing a new trend towards Reverse Mortgages as a staple of retirement planning.  According to a recent study […]

Many people do not realize the many different property types that are able to be financed by a Reverse Mortgage.  Often people are misled and think that you can only take out a Reverse Mortgage on single family homes. This is not the case.
The HUD website explains: “An eligible property must be a principal residence, but […]

Many people get nervous at the idea of having an adjustable rate mortgage; even on a reverse mortgage where there are no actual payments to be made.  The reason for this is people know that interest rates can change dramatically over time.  Even if no payments are made out of pocket, the interest rate on […]

Traditionally, Reverse Mortgages have only been available with adjustable interest rates, but having an adjustable interest rate can make some people uneasy.  Recently, however, a fixed rate HECM REverse Mortgage has been introduced which gives senior homeowners the ability to have a fixed rate on their reverse mortgage for as long as they live in […]