article 1

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 […]

Read More
article 1

10 Facts About Reverse Mortgages

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 […]

Read More
article 1

6 Consumer Protections for Reverse Mortgage Loan Borrowers

Pursuing a Home Equity Conversion Mortgage (HECM, commonly referred to as a reverse mortgage loan) is a big decision. While it allows you to convert your home’s equity into non-taxable cash that you can use to supplement your retirement income, “borrowers must continue to pay for property taxes”, you may be wondering what types of […]

Read More
article 1

Key Factors That Determine Your Reverse Mortgage Loan Payout

When the idea of the reverse mortgage loan was first conceived in the early 1960s, people quickly began to recognize that the concept was a brilliant answer to a common challenge.  Many senior homeowners wanted access to their home equity to help fund a better retirement while remaining in their home—and a reverse mortgage loan […]

Read More