QUESTIONS?

CALL US: 703-319-2198


Transitioning from a Standard Mortgage to a Reverse Mortgage.

Published on Jan 05, 2015 | Reverse Mortgage Retirement Planning Traditional Mortgage supplemental retirement income HECM Reverse Mortgage

Nice article comparing wealth and consumption effects of a HECM Reverse Mortgage.  I would like to add a few things.  First, the money is essentially the same.  You either pay the mortgage payment or have your home equity make the payment. Yes, there are closing costs and MIP but there are also significant benefits.  If you outlive the equity and have the money for consumption you may end up significantly underwater on the property.  Guess what?  The MIP insurance fund covers the loss and your estate and heirs are unaffected.  Also, add in long term care options-a Reverse wins.

http://www.huffingtonpost.com/jack-m-guttentag/transitioning-from-a-stan_b_6393794.html
 

George H. Omilan

President-CEO

NMLS# 873983

 

Recent Posts

Blog Tags

Reverse Mortgage HECM Reverse Mortgage Retirement Planning supplemental retirement income Seniors Retirement security Financial Planning Short Sales Age in Place Government insured mortgage lifetime income with a Reverse Traditional Mortgage Home Care HECM for Purchase Retirement income insecurity home equity access Long Term Care Jumbo Reverse Mortgage solutions for underwater properties reverse credit line Social Security Specialized Forward Mortgages Mortgage Loan Process Eligibility for Reverse Mortgage Annuity Financial Assessments forgiven mortgage debt mortgage Inflation Debt Mitigation FHA 55+ mortgage debt forgiveness act foreclosure cashflow self-employed borrower VA LOAN Non QM HUD private label reverse mortgage Reverse to Purchase Mortgage Loan modification Investor Loans Real Estate Investment Loans VA Low Score Real Estate Market Jefferson Mortgage Group bank statement loan Housing Market investor financing No Doc Investor Loans Sandwich Generation QM HECM Changes Interest Rates High-Value Homes LESA Medicare Mortgage Rates mortgage debt Reverse Mortgage Eligibility Low Credit Score manual underwrite Construction Loan Fed Real Estate Economy 2023 changes growth factor downsizing HELOC Hard Money Loan Lending Limit increase DSCR 2025 changes Non-recourse loan modify your loan with your lender mortgage debt relief act Mortgage Deliquency Fiscal Cliff Business Cash-flow HECM to Purchase Senior Advocate Blanket Loan Seller Contribution Jumbo Reverse Second Trust Diversification Estate Plan Senior Care Jumbo Mortgage Loan Rentership Credit Score down to 500 Second Trust Gray Divorce bankruptcy MIP Unrestricted Approval Principal Limit Factor success story Trump Commercial Real Estate 2021 Changes Debt Treasury Asset Qualifer FINRA Housing Prices Property-based loan occupancy requirements Asset Based Mortgage ATR Rule assisted living LLC Second Trust Prequalification Non-Qualifying Loan