• What Will I Be Responsible For After I Get A Reverse Mortgage?

    Reverse Mortgages have helped millions of seniors live more plentiful lives as they age.  Homeowners and their spouses over the age of 62 are eligible for Home Equity Conversion Mortgages (HECM), but although they will NOT have a monthly mortgage payment to pay, they are still responsible for some financial obligations regarding the home.  These […]

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  • Dissecting The Differences In Reverse Mortgage Professionals

    When you start navigating the waters of reverse mortgages, you will undoubtedly come across MANY different companies and individuals ready and willing to help.  Flashy ads, website calculators, famous spokesmen, and more.  But who are all these people?  And what is the difference between them?  How do you know what is the best fit for YOU? […]

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  • 3 Things to Do with a Reverse Mortgage in California

    One of the best parts of a reverse mortgage is the borrower(s) can do anything they’d like with the funds – while also living mortgage payment free.  In California, seniors are more active than ever, whether it be traveling, home improvements, or visiting with family and grandchildren often. Here are 3 fulfilling ways seniors are using their reverse […]

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  • Why Reverse Mortgage for Purchase is Different

    The Reverse Mortgage for Purchase program is an age-based mortgage insured by the FHA for individuals and married couples aged 62 and older. Unlike a traditional mortgage, monthly payments are deferred and the loan balance increases over time. Because the loan is backed by the FHA, neither the borrower(s) nor their heirs are personally liable for the debt. So […]

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  • Will A Reverse Mortgage Affect Social Security, Medicare & Pension?

    A very common concern among seniors and adult children when considering a reverse mortgage is how it will affect social security, medicare, and even certain pensions.  For many seniors, these benefits are a large part of their income. Fortunately, because the funds from a reverse mortgage are NOT considered taxable income, a borrower’s benefits will not be affected when taking out a […]

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  • How Rising Interest Rates Affect Reverse Mortgages

    Interest rates have been at historic lows for years.  This has afforded thousands of Americans to the ability to secure home loans for their dream house.  It’s also worked in favor for those who have made the decision to tap in their home equity using a reverse mortgage.  But interest rates affect a conventional loan […]

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  • Everything You Need To Know About The Reverse Mortgage Appraisal

    Getting assessments on just about anything can seem laborious or tedious, who wants to have something close to them looked at with a magnifying glass? But appraisals for reverse mortgage loans are not only very helpful for everyone involved, they’re required by the lender.  Part of what determines the amount of funding available from a reverse mortgage is the appraised […]

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  • Reverse Mortgage FAQ – Part 3

    This is the third in a three part series of frequently asked questions about Reverse Mortgage.   Will I Lose My Government Assistance If I Get a Reverse Mortgage? A reverse mortgage does not affect regular Social Security or Medicare benefits. However, if you are on Medicaid or other public assistance, any reverse mortgage proceeds you receive […]

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  • Reverse Mortgage FAQ – Part 2

    This is the second in a three part series of frequently asked questions about Reverse Mortgage. Can I get a Reverse Mortgage even if I have an existing mortgage? You may qualify for a reverse mortgage even if you still owe money on an existing mortgage. The existing loan will be paid off first with the […]

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  • Reverse Mortgage FAQ Part 1

    This is the first in a three part series of frequently asked questions about Reverse Mortgage. Are There Any Special Requirements to Get a Reverse Mortgage? In order to qualify for a reverse mortgage, you must own your home, be at least 62 years old, have some equity in your home, and meet the income […]

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  • What is Required Reverse Mortgage Counseling?

    Prior to being approved for a reverse mortgage, HUD’s Federal Housing Administration (FHA) requires each borrow to participate in a counseling session with an approved agency. These not-for-profit agencies are funded by the federal government and work closely with both the FHA and lenders to ensure a smooth process. The goal of this session is not […]

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  • Should Your Financial Planner Be Discussing Reverse Mortgage?

    When financial planners counsel retirees on how to best leverage their retirement portfolio, social security, and other assets, considering a reverse mortgage was long not part of that conversation – but this is beginning to change. As the myths of the industry are laid to rest, many professionals are beginning to better understand how reverse mortgage […]

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  • Reverse Mortgage For Purchase – A Hidden Gem

    Nearly everyone is familiar with a Reverse Mortgage and many even know someone who has used one to increase cash flow or help them remain in their existing home.  But what many people don’t realize is that you can also use one to purchase a home.  This little known portion of the reverse mortgage program, called Reverse Mortgage […]

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  • I Have A HELOC On My Home – Can I Get A Reverse Mortgage?

    The short answer is – absolutely.  And as a matter a fact, reverse mortgages are great options to eliminate HELOC payments. A HELOC is the acronym for Home Equity Line of Credit, and thousands in the Fort Collins and Loveland cities have taken advantage of it. When the housing boom was in full swing a number of years ago, the […]

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  • What Retirees Want In Housing

    If you find yourself yearning for a retirement of comfort in your own home in a community you love, you are definitely not alone.  Here are some pretty telling facts and statistics surrounding the desires of older adults in the U.S.. According to research by the American Association of Retired Persons (AARP): Nearly 90 percent of […]

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  • Reverse Mortgage vs HELOC vs Downsizing

    Home equity accounts for approximately 70% of a senior’s assets, not including social security or pension.  Often times tapping into this equity becomes inevitable when facing health crisis or financial restrictions in retirement.  Using home equity should be part of a larger financial plan and there are a few ways it can be incorporated. Reverse […]

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  • Three Things You Never Knew About A HECM Reverse Mortgage

    Three Things You Never Knew About A HECM Reverse Mortgage Reverse mortgages are available to senior homeowners 62 and over, even married couples.  The borrower will live mortgage payment free and always retain the title to the home.  There are many myths and misconceptions that surround reverse mortgages – but there are also some not-so-known perks to the loans.   […]

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  • Gray Divorce Rates Are Climbing – Can Reverse Mortgage Help?

    Gray Divorce Rates Are Climbing – Can Reverse Mortgage Help? A Pew Research poll highlighted a very interesting trend among divorce in the United States – while divorce rates have drastically declined among younger adults, it’s nearly doubled among adults 50 and over in the past 25 years.  The truth is, it’s becoming more and more […]

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  • Can I Sell My Home If I Have A Reverse Mortgage Loan?

    Can I Sell My Home If I Have A Reverse Mortgage Loan? For many that obtain a reverse mortgage, the plan is to stay and age at home, but sometimes reasons come up that the homeowner will want or need to sell the home.  Is this possible if there is a reverse mortgage on the home? […]

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  • Tips For Adult Children When Considering A Reverse Mortgage With Your Parents

    Tips For Adult Children When Considering A Reverse Mortgage With Your Parents If you are concerned for your aging parents or relatives as their home becomes too much to manage or too difficult to move about,reverse mortgage may be an option.  It is common for adult children to look into the reverse mortgage process for their […]

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