Posted - May 16, 2016
In the early 1960’s a new type of mortgage loan was designed specifically for senior homeowners who wished to access the equity in their home while aging in place. This new loan became popular because it fulfilled a need that many borrowers had. Senior homeowners wanted to stay living in their homes for the rest of their lives, and reverse mortgage loans were the perfect solution to help them do just that.
However, unexpectedly at times, some borrowers found that they needed to move awayRead More...
Posted - December 21, 2015
When considering a reverse mortgage home equity loan, there are many questions to ask yourself in order to determine if you can benefit from all of the features it offers. We’ve created a visual flowchart in an effort to help guide you through this process. For an instant estimate of the total proceeds, you may receive from a reverse mortgage loan, click here.
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Posted - November 16, 2015
For senior homeowners across the U.S., retirement is a time to finally celebrate freedom from work obligations. However retirement could also mean living on a fixed income causing some financial stress. Fortunately, a powerful tool exists that may allow retirees to enjoy financial freedom. This tool is called a reverse mortgage.
Learn all about what a reverse mortgage is and more with this infograph.
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Posted - October 20, 2015
For the last half century, reverse mortgages have offered senior homeowners across the nation the benefit of financial security in retirement. As a type of home loan designed for those age 62 years and older, this powerful tool can help individuals access a portion of their home equity and convert it into cash to supplement a fixed income.
Reverse mortgages are attractive because of the unique features they offer, such as the elimination of monthly mortgage payments, relief from one of theRead More...
Posted - July 27, 2015
For many senior homeowners interested in accessing their home equity, the reverse mortgage loan is a choice that is often made with confidence. After all, this financial product gives them the chance to convert a portion of their home equity into cash to supplement their retirement income. For a decision as important as a home equity loan, borrowers take the time to do their research about the product, speak with their reverse mortgage professional about their concerns, and review theirRead More...
Posted - July 17, 2015
When you first begin to learn about a reverse mortgage and its associated advantages, your initial impression may be that the loan product is “too good to be true.” After all, a key advantage to this loan, designed for homeowners age 62 and older, is that it does not require the borrower to make monthly mortgage payments. Borrowers are responsible for paying property taxes, homeowner’s insurance, and for home maintenance. Though at first this advantage may make it seem as if there is noRead More...
Posted - July 6, 2015
When you first bought your house, the last thing you may have thought about was its potential as a vehicle to fund your retirement. Your home was simply a place to share with your spouse, raise your children, and enjoy your family. It has been a humble setting for some of the best moments of your life. But now as retirement nears, you may begin to see your home not only as a place where important memories are created, but also as an important investment that grows for the future. Your home mayRead More...
Posted - July 2, 2015
Buying a home is a major milestone in anyone’s life. You’ve worked hard to maintain your home through the years. Perhaps you’ve upgraded your kitchen, installed new floors, painted a new exterior color, or remodeled the bathroom. Not only do these enhancements bring personal satisfaction, but they may also increase an important aspect of your home: its equity.
In its simplest terms, home equity is defined as your home’s current market value minus what you owe on it. Equity is your asset,Read More...
Posted - June 30, 2015
If you are like many senior homeowners, your home is your pride and joy. Perhaps you chose each individual bathroom fixture with care, after flipping through hundreds of catalog pages. Or you planted and nurtured each tree with your very own hands, and watched them grow taller every year. Or maybe, even when it came time to replace your roof, you researched options so well that you knew more about roofs than the expert at the hardware store. Now that you’re in retirement age, you may discoverRead More...