As a reverse mortgage borrower, you know, that although you don’t have to make monthly mortgage payments, you are still responsible for the maintenance of your home and the payment of property taxes and homeowners insurance on it. If you fail to meet these loan obligations, your lender or loan servicer can legally call your […]

Imagine waking up 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 one million […]

You’re a big proponent of reverse mortgages. You saw how one gave your parents the extra cash they needed to stay in and fix up their home, pay off bills, and have enough money to travel and see you and the grandkids whenever they wanted. Of course, they were still required to stay current with […]

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 most advantageous for your situation. Here are […]

The coronavirus has spread well beyond being just a health crisis. Fallout from the virus has also forced Americans to grapple with how they are going to pay their mortgages, rent, and put food on the table as unemployment trends hold steady. The U.S. government has responded with an unprecedented economic package totaling trillions of […]

Growing older introduces a lot of new challenges, whether it’s learning to deal with a few more aches and pains or mastering Zoom so you can video-chat with your grandkids. That you can handle. What’s really got you tied in knots is how to gain financial stability in retirement. You wouldn’t be alone in your […]

1. What is a reverse mortgage? A reverse mortgage is a home equity loan exclusively designed for seniors 62 or older. Unlike a traditional home equity loan that you begin paying back soon after the loan closes, you have the option of not repaying a reverse mortgage until you actually leave the home or fail […]

Sinatra said it best: “Regrets, I’ve had a few.” In a long, adventurous life, you’ve probably racked up more than your share too, both emotional and financial. That passed-up investment in a certain Internet search engine. The loan to your brother that went unpaid. The timeshare that cost many times more than the salesperson said […]

Today, whether your goal is to buy a home or a car, rent an apartment, apply for a job, obtain a business loan, receive a lower insurance rate or simply get your utilities turned on in your name, you can expect the person or company evaluating your application to ask for permission to review your […]

Have You Been Properly Introduced to LESA (to Help You Pay Your Property Taxes)? In applying for a HECM reverse mortgage to help you retire better, one of the steps, established by the FHA in 2015, is a financial assessment to determine your ability to maintain your home and regularly pay your property taxes and […]