Steve Vernon of CBS MoneyWatch touts reverse mortgage loans
April 10, 2017
The article dispels many of the misconceptions about reverse mortgage loans including fees, legacies and policy while also explaining how the product offers an opportunity to tap home equity without selling the home – an option often overlooked based on the research.
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 […]
In order to be eligible to apply for a reverse mortgage, one of the requirements to fulfill is to attend a counseling session with a counseling agency that is approved by the U.S. Department of Housing and Urban Development (HUD). To find reverse mortgage advisors that are HUD-approved, please click on this link: https://entp.hud.gov/idapp/html/hecm_agency_look.cfm Counseling allows […]
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