One of the biggest criticisms of reverse mortgages is that they are difficult to understand, including for some seniors who make up the pool of eligible recipients of such loans. However, reverse mortgages can be great financial tools for seniors desperately in need of income whose only assets are the equity in their homes. The best thing such seniors can do to take advantage of the reverse…
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Welcome to the
Reverse Mortgage Page
Reverse Mortgage Page is dedicated to helping
retirees and seniors live in financial comfort. The goal is to educate about
reverse mortgages and assist in the next step of speaking to a reverse mortgage
lender. Please feel free to browse our site. Look into the reverse mortgage
process to see if it might be right for you. If you feel it is, or simply
want more reverse mortgage information, use our HUD approved reverse mortgage
lender directory.
We only associate with HUD approved reverse mortgage lenders. You can feel secure that the reverse mortgage lenders in our directory are registered and in good standing.
This is the place to answer the question: What is a reverse mortgage? We make it our goal to educate you, as well as help you find the right reverse mortgage lender. In addition, unlike other places, we do not hide reverse mortgage disadvantages. Reverse mortgage information must include ALL the facts.
Reverse Mortgages are not for everyone, but everyone 62 years or older should know what a reverse mortgage can do for them. Our educational learning series about senior finances will give you information about reverse mortgages and many other relevant topics.
You can feel confident your information will never be sold or rented to any third-party. We merely help you find the right reverse mortgage lender for you, and have them contact you at no cost and with no obligation. You may use the reverse mortgage lender directory without submitting any information.
Thank you for visiting Reverse Mortgage Page and, as always, we are delighted to hear your feedback.
Understanding when and how a Reverse Mortgage Loan is repaidJuly 25th, 2011 Reverse mortgages can be intimidating because they are structured very differently from conventional home loans. Most are Home Equity Conversion Mortgages (HECMs) insured by the FHA. A HECM borrower receives loan proceeds but does not have to repay the loan as long as the home is the borrower’s principal residence and the obligations of the mortgage are met. So, when and how is a HECM repaid? | |
Reverse Mortgage Scams and Tips to Avoid ThemJuly 18th, 2011 Occasionally, mortgage fraud makes big news. Recently, three reverse mortgage professionals in Florida conspired with a title agent in Pittsburgh to defraud senior citizens and left some of these seniors facing foreclosures. Seniors were encouraged to apply for reverse mortgage loans, the loan officers had the homes appraised and then inflated the properties’ values so it appeared there was… |
HUD Reverse Mortgage Counseling: What to ExpectJuly 17th, 2011 The Department of Housing and Urban Development (HUD) requires that seniors receive counseling before obtaining a Home Equity Conversion Mortgage (HECM), which is an FDA-insured reverse mortgage loan. A lender may not begin processing a loan application for a HECM until the potential borrower receives a certificate from his or her counseling session demonstrating that the person has completed the… |
HECM Purchase: Seniors Save Money by Getting a Smaller Home and a Reverse Mortgage in One TransactionJuly 16th, 2011 Cash-strapped seniors may have several options for generating more income to meet financial needs. For example, they may be able to save money by moving into smaller, more affordable homes or they may be able to generate more cash by tapping into the equity they already have in their homes by taking out reverse mortgages. It is also possible to combine these two options to save even more money. Read the rest of this entry » |
HUD’s HECM Saver Reverse Mortgage Pros and ConsJuly 15th, 2011 In September of 2010, HUD made available a new type of reverse mortgage loan. Previously, HUD offered only one type, the HECM (Home Equity Conversion Mortgage), but many seniors were put off by the relatively high closing costs associated with these loans. Now, in addition to the traditional HECM Standard, HUD offers the HECM Saver with lower closing costs in exchange for a reduction in the loan… |
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- Reverse Mortgage Basics: Explaining Reverse Mortgage Loans
- Reverse Mortgage Qualification Hurdles
- After a Reverse Mortgage Borrower Passes Away
- Reverse Mortgage Occupancy Requirements Explained
- Adjustable and Fixed Rate Reverse Mortgages: What Seniors Should Know
- HUD Says Reverse Mortgage Heirs Will Not Pay More Than The Home Value To Purchase House
- How Savvy Seniors Set Up Reverse Mortgages To Avoid Problems Down The Road
- Understanding when and how a Reverse Mortgage Loan is repaid
- Reverse Mortgage Scams and Tips to Avoid Them
- HUD Reverse Mortgage Counseling: What to Expect
- HECM Purchase: Seniors Save Money by Getting a Smaller Home and a Reverse Mortgage in One Transaction
- HUD’s HECM Saver Reverse Mortgage Pros and Cons
- Reverse Mortgages Brings Cash Flow to Seniors With Home Equity
- HECM Saver Reverse Mortgage Cuts Fees for Seniors
- Reverse Mortgage Fees
- Reverse Mortgages Pros and Cons
- Reverse Mortgage Leads
- Cash-Out Refinance
- Reverse Mortgages and Long Term Care Insurance
- Reverse Mortgage Calculator
- Reverse Mortgage Basics: Explaining Reverse Mortgage Loans
- Reverse Mortgage Qualification Hurdles
- After a Reverse Mortgage Borrower Passes Away
- Reverse Mortgage Occupancy Requirements Explained
- Adjustable and Fixed Rate Reverse Mortgages: What Seniors Should Know
- HUD Says Reverse Mortgage Heirs Will Not Pay More Than The Home Value To Purchase House
- How Savvy Seniors Set Up Reverse Mortgages To Avoid Problems Down The Road
- Understanding when and how a Reverse Mortgage Loan is repaid
- Reverse Mortgage Scams and Tips to Avoid Them
- HUD Reverse Mortgage Counseling: What to Expect
- HECM Purchase: Seniors Save Money by Getting a Smaller Home and a Reverse Mortgage in One Transaction
- HUD’s HECM Saver Reverse Mortgage Pros and Cons
- Reverse Mortgages Brings Cash Flow to Seniors With Home Equity
- HECM Saver Reverse Mortgage Cuts Fees for Seniors
- Reverse Mortgage Fees
- Reverse Mortgages Pros and Cons
- Reverse Mortgage Leads
- Cash-Out Refinance
- Reverse Mortgages and Long Term Care Insurance
- Reverse Mortgage Calculator
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