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Borrower Stories: Lester and Regina A.

Singer, songwriter, musician, and producer Lester Abrams has played with such musical legends as B.B. King, Stevie Wonder, Quincy Jones, The Average White Band, and The Doobie Brothers. In 1978, he and The Doobie Brothers’ Michael McDonald co-wrote the Grammy-nominated “Minute by Minute,” a soulful single that ironically lost out to Song and Record of […]

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Borrower Stories: Janet and John P.

How Two U.S. Army Vets Used a Reverse Mortgage to Get Over the Hump As you read this amazing story, you may think it’s too good to be true. Take a little trip with us before you decide. John, from Wisconsin, and Janet, from Virginia, somehow found their way to Wyoming after each served eight […]

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Borrower Stories: Anne O.

Anne O. broke glass ceilings before the term was even invented. When she casually drops names of some of the most iconic advertising firms in the annals of advertising history — like Doyle Dane Bernbach, McCann Erickson and Young & Rubicam — it’s not to impress, but rather to address that period of life when […]

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Borrower Stories: Nancy K.

On the second day after returning to work this summer as a paraeducator for special-needs high school students, Nancy K. fractured her knee, sidelining her in her Ontario, Calif., home. For approximately the next four months, the time and energy she normally spent pouring into her students and creating a positive learning environment for them […]

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How A Reverse Mortgage Could Help You Retire Better

Imagine waking up in retirement to find you no longer have a mortgage and there’s $50,000, $100,000, or $250,000 more in your bank account than you expected. This scenario isn’t just a castle in the sky. In fact, it plays out every day. The way it happens is with a reverse mortgage, and more than […]

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10 Facts About Reverse Mortgages That People Tend to Overlook

Until you were eligible for Social Security and Medicare, or approaching the age when you would be, you may not have known exactly how these two pillars of retirement worked. You may not have understood, for example, that Medicare isn’t free or that for every year that you delay taking Social Security past full retirement […]

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Are Heirs Responsible for HECM Reverse Mortgage Loan Debt?

If you are the heir of a Home Equity Conversion Mortgage borrower who has passed away, you are not personally responsible for paying off the debt, but you are in a position to decide how the debt is paid. You have several options and should select the one best for your situation. Here are the […]

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10 Facts Heirs Need to Know About Home Equity Conversion Mortgage (HECM) Reverse Mortgages

If a reverse mortgage borrower sells the home or moves away permanently, the loan becomes due and payable. But the truth is, most reverse mortgage borrowers use the loan to age in place, leaving repayment of the loan to their heirs. As with any mortgage, the borrower could be subject to foreclosure for failing to […]

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Ideal Candidates for a Reverse Mortgage

There may be as many reasons to consider a reverse mortgage loan. The first reverse mortgage in 1961 went to a widow whose wish was to continue aging in her beloved home without the financial burden of monthly mortgage payments. In exchange, she agreed to maintain her home and stay current on her property taxes […]

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Does the Bank Own the House with a Reverse Mortgage?

It’s easy to understand why so many people mistakenly believe the lender takes ownership of the home in exchange for giving the borrower a reverse mortgage. The loan’s many advantages make it seem almost too good to be true. Some of these advantages are: But, in fact, all the features listed above are true. There […]

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