Many people say that reverse mortgages are just too good to be true. However, over 1 million retirees have secured these loans and a recent study from Ohio State University finds that the vast majority of people who get a reverse mortgage are “satisfied” or “very satisfied” with their decision. When you get a reverse…
Reverse Mortgages News, Information and Guidance
A reverse mortgage is a federally insured loan for home owners who are 62 years and older. Use this guide to reverse mortgage calculations to help you understand how much money you can get, what are the payment options, and the different types of loans. How Much Money Can I Get from a Reverse Mortgage?…
Can a reverse mortgage line of credit provide financial security? A reverse mortgage line of credit is exactly what it says it is… It is a line of credit on a reverse mortgage. Mmmm… that doesn’t really clear it up at all, does it? Reverse mortgages can be difficult to understand. We’ll break it down…
Reverse mortgage television commercials abound, but it is hard to get straightforward — easy to understand — answers in response to your reverse mortgage questions. Here are some of the most common reverse mortgage questions people have and some very surprising answers: Is it a Loan? This is one of the most common reverse mortgage…
Most of us are concerned about our retirement financial security. We have not saved enough. Healthcare is expensive. Social Security doesn’t nearly cover our costs. We are living long lives. However, many of us do have one very big source of wealth. According to the US Census Bureau, 79% of older Americans own their homes. …
Generally speaking, the uses of reverse mortgages are endless. And, you get to choose the best way to manage or spend the money from the loan. Most seniors use a reverse mortgage to help close a gap between their retirement expenses and their retirement income. Reverse mortgages eliminate monthly mortgage payments and give you access…
If you want to stay in your home and either increase your financial flexibility or improve your everyday cash flow, then you should consider a reverse mortgage. If you decide that the loan is interesting, then you probably want to know how to get the best reverse mortgage. Follow these 7 steps to the best…
A reverse mortgage is a loan that lets the borrower access their home equity. However, many people are very disappointed by their potential reverse mortgage amount. How much money can you really get? Is the amount you can access worth it? Potential Reverse Mortgage Borrowers Are Often Disappointed If you were disappointed by your reverse…
Did you know that you can use a reverse mortgage for purchase of a new home? It’s true. It is very popular for seniors to use reverse mortgages to transform equity in their homes into cash without burdening themselves with monthly payments or risking foreclosure. However, it is less known that in 2008, the US…
Nine in 10 older Americans want to remain in their own homes as they get older. But most people aren’t planning ahead when it comes to making sure their houses are equipped to provide their desired lifestyle in retirement, research shows. In fact, while 96% of Americans age 50 to 80 say it’s important to…
