Getting a Reverse Mortgage for a homeowner with an unrestricted approval versus a restricted approval due to credit problems, even some that are very minor, can often be challenging. The program has become much stricter regarding credit incidents since th
The current version of the government insured Reverse Mortgage is much more restrictive than in the past with regards to how much equity is available to homeowners. The latest changes that were enacted last October were directed at saving the government
Recently, there has been a lot of hype over the suggested strategy to utilize a government insured Reverse Mortgage to provide for more benefits over a lifetime with Social Security. I do not claim to know the exact reasoning or motivation behind th
There are two separate and distinct occupancy requirements for a HECM Reverse Mortgage that often get confused depending on whether you are applying for a new loan or you already have an existing reverse mortgage.The first is general occupancy requirement
This is a great article illustrating many aspects of how a Reverse Mortgage can be a terrific retirement tool as long as you are not flagrant with your money. If you use it for financial balance and create cash flow for monthly living expenses so you can
Many retirees and seniors have forward mortgages and traditional home equity lines. All forward mortgage instruments require monthly payments. As we know, if you do not pay your monthly payments after a short period of time the lenders will in