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 […]
A person over the age of 62 can use a HECM, Home Equity Conversion Mortgage, to purchase a home. A HECM is a FHA insured reverse mortgage. Here is a real life example of a couple that used a HECM reverse mortgage to purchase a new home that fit their needs and dreams. Andy and […]
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 […]