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1403
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What Borrowers Need to Know Before Getting a Reverse Mortgage for Seniors
A reverse mortgage is a loan that allows senior homeowners to convert a portion of their home equity into cash. Unlike conventional mortgage loans, which require borrowers to make monthly payments to their lender, these loans actually pay the borrower. Read on to learn more about this interesting loan product
Posted on Jan-12-2012
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1032
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The Fascinating History of Reverse Mortgages
The history of reverse mortgages is substantially more interesting than many would think. While reverse mortgages have only become popular in the past 15 years, these loans have actually been around for decades. Contrary to what naysayers often say about these loans, reverse mortgage history is teeming with generosity, financial innovation, and positive advancement.
Posted on Jan-12-2012
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780
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Two Pieces of Reverse Mortgage Information Seniors Need to Know
As the baby boomers enter retirement, an increasing number of consumers are looking for reliable reverse mortgage information. A reverse mortgage is a unique loan that lets senior homeowners over 62 years of age borrow a portion of their home equity. For many, reverse mortgages have become a vital retirement tool. Since 1990, over 734,000 seniors have used a reverse mortgage to pay off their home and improve their finances.
Posted on Jan-09-2012
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871
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What Is a Reverse Mortgage Loan?
By now, most adults have heard of reverse mortgages, but many are uncertain as to what these loans entail. What is a reverse mortgage? In a nutshell, a reverse mortgage is a unique loan designed to help seniors, over 62 years of age, access a portion of the equity in their home.
Posted on Jan-05-2012
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694
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What Reverse Mortgage Lenders Are Looking for in Borrowers
One of the greatest benefits of reverse mortgages--besides the fact that they provide seniors with additional cash through retirement--is that they are easy to qualify for. During retirement, many seniors rely on Social Security and savings to cover their expenses. With a limited income, it can be difficult to qualify for traditional home equity loans. Reverse mortgages were originally designed to be available to seniors of all income levels, as long as they have enough equity in their home.
Posted on Dec-23-2011
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651
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Three Beneficial Ways to Use a Reverse Mortgage
According to a national survey conducted by AARP in 2006, 97% of seniors were very satisfied with the results of their reverse mortgage. Of the seniors surveyed, only 3% did not believe their loan had a positive impact on their financial stability. Looking at these statistics, it is obvious that reverse mortgages are benefiting the large majority of borrowers. What many seniors are wondering is how.
Posted on Dec-23-2011
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758
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Understanding the Reverse Mortgage for Purchase Program
What many consumers fail to realize about reverse mortgages is that these loans can be used to purchase a home. Through the reverse mortgage for purchase program, officially known as the HECM for Purchase program, consumers are able to use federally-insured reverse mortgages, or HECMs, to purchase a new residence.
Read on to learn more.
Posted on Nov-08-2011
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692
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Reverse Mortgage Information: The Benefits and Disadvantages Consumers Need to Know
Reverse mortgage loans are somewhat controversial loans. While most experts recognize the obvious benefits that these loans offer, some also warn consumers to tread carefully. The decision to obtain a reverse mortgage is not one that should be taken lightly. While seeking reverse mortgage information, consumers need to make sure that they fully understand both the benefits and disadvantages of
Posted on Dec-23-2011
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730
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Reverse Mortgage Calculator: Important Tools for Potential Borrowers
A reverse mortgage calculator is a tool used to calculate how much cash a borrower would be eligible to receive through a reverse mortgage. Calculators are also available to help borrowers calculate the costs associated with taking a reverse mortgage.
Posted on Oct-24-2011
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805
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Consumer’s Guide to Choosing Reverse Mortgage Lenders
With over 2,000 active reverse mortgage lenders, it can be difficult for consumers to decide who to work with. A person’s choice of lender will affect the overall affordability of the loan.
Posted on Oct-24-2011
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