Mortgage Blog

Consider the Alternatives to Expensive LTC Policies

I completely agree with the authors opinion on long term care policies. After doing significant research for myself I determined that the monthly and up front lump sum long term care policies were not for me.  There are simply too many variables out of your control that can cause your premiums to skyrocket leaving you holding the bag.  Alternatively, a government insured reverse mortgage, known commonly as a HECM, will provide a growing credit line that will provide eligible borrowers a much more cost effective and flexible means of providing a financial backstop in the event care is...

June 15th, 2017 | HECM Reverse Mortgage, Reverse Mortgage, Long Term Care, growth factor, Consider the Alternatives to Expensive LTC Policies

Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage

Private label Reverse Mortgages have been slowly creeping across the country over the past two years.  There are some very key distinctions between the private label and the government insured HECM that are important to keep in mind. The government insured HECM Reverse Mortgage program has a growth factor that allows a homeowner’s available credit, based on the untapped portion of allowable equity, to grow and compound thereby providing retirees and seniors with increased levels of home equity access each year as they age.  The private label programs do not have a growth f...

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November 18th, 2015 | Seniors, Retirement Planning, HECM Reverse Mortgage, Reverse Mortgage, private label reverse mortgage, growth factor, Private Label Reverse Mortgages vs. Government Insured Reverse Mortgage