When taking out conventional (or Forward) home loans, people generally view fixed interest rates as being safer than adjustable rates because fixed rates provide certainty. However, in the world of reverse mortgages, the considerations are different and adjustable and fixed rate plans each have their pros and cons. Unlike with conventional adjustable rate home loans where borrowers worry about the potential for increases in their monthly payment obligations, reverse mortgage borrowers do not make monthly payments so they do not have this same concern.

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When taking out conventional (or Forward) home loans, people generally view fixed interest rates as being safer than adjustable rates because fixed rates provide certainty. However, in the world of reverse mortgages, the considerations are different and adjustable and fixed rate plans each have their pros and cons. Unlike with conventional adjustable rate home loans where borrowers worry about the potential for increases in their monthly payment obligations, reverse mortgage borrowers do not make monthly payments so they do not have this same concern.

(more…)

By AMY HOAK

Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners interested in this product a new challenge: how to compare offers to find the best one.

(more…)

By AMY HOAK

Upfront fees on reverse mortgages have fallen substantially in recent months, giving homeowners interested in this product a new challenge: how to compare offers to find the best one.

(more…)

Reverse mortgage rates are the same for all reverse mortgage lenders. The true cost of different reverse mortgage programs, however, vary based on the different program or product.

(more…)

Reverse mortgage rates are the same for all reverse mortgage lenders. The true cost of different reverse mortgage programs, however, vary based on the different program or product.

(more…)