Financial Hardship in a Reverse Mortgage

Protecting Loved Ones From Financial Hardship Because many consumers do not understand the long-term financial impact of reverse mortgages, the CFPB is issuing an advisory to help reverse mortgage borrowers. The advisory highlights three ways consumers who are the borrowers on the loan can help plan so that their surviving heirs are not harmed: Verify […]

Top Complaints About a Reverse Mortgage

It is important that one understands how a reverse mortgage works and know what can and cannot be done. There sometimes is confusion between what one believes a reverse mortgage can do and the way the reverse mortgage functions. For example, many consumers, for example, struggle with understanding how quickly their loan balance will go […]

How a Reverse Mortgage Saved a Foreclosure

A senior citizen homeowner owned a home and got behind in their mortgage payments. Subsequently, a notice of default was issued by the lender and foreclosure proceedings were started. The homeowner had been living in his home over 25 years and have paid down considerably his mortgage but with retirement and a sudden increase in […]

A Reverse Mortgage for Purchase Success Story

A baby boomer in Orange County recently turned straw in to gold by the use of the Reverse-Mortgage-for-Purchase Program. The homeowner was on the fence about listing her home until the Realtor explained that the Reverse-Mortgage-for-Purchase Program could increase her purchase power. She could more than double her net proceeds from the sale of her current home […]

How to Buy a Home Using a Reverse Mortgage

Planning for Retirement This article is as much for homebuyer and homeowners 62 years or older, as it is for the adult children of aging parents. Reverse mortgages are primarily about providing financial options that include allowing you to leverage your home’s equity to help subsidize increasing health costs, or supplementing retirement income to realize […]