Using Reverse Mortgages To Help Retirement Money Go Further

New research shows that reverse mortgages are an increasingly intelligent way to augment retirement planning. What role should they play for you? New studies reveal that reverse mortgages may be far more beneficial than previously thought. Highly respected professors, economists and financial experts now believe that these tools can play an essential role for all…

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Should I Get a Reverse Mortgage or a Credit Line? What’s the difference between a home equity line of credit and reverse mortgages?

The number of financial products available to older homeowners is growing. Access to home loans, credit lines, and reverse mortgages appears to be improving. But which is the best option for you? Is it a reverse mortgage or a home equity line of credit? Rising Expenses & Uncertainty Many older homeowners are on fixed incomes.…

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Why is There FHA Mortgage Insurance on Reverse Mortgages?

Mortgage insurance began in the United States in the 1880s but the industry first enjoyed major growth following the implosion of the 1920s real estate bubble. In the 1950s, Milwaukee lawyer Max H. Karl invented the modern form of private mortgage insurance, which helped to put home ownership within reach for millions of families. Private…

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Reverse mortgages for purchase, – still a relatively new idea.

Do you have too much house? Are you considering downsizing but concerned about qualifying for a new mortgage? Perhaps a reverse mortgage for purchase may be a problem solver for you. Since 2008 a little known product called a reverse mortgage for purchase is available for people over 62 who wish to downsize to a…

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MAKE PAYMENTS ON A REVERSE MORTGAGE? It’s not required but some people may want to…

  It’s not commonly done nor is a commonly known that you can make payments on reverse mortgages. It is acceptable to make payments on reverse mortgages and may make sense for you to do so for your future. HOW REVERSE MORTGAGES WORK: Reverse mortgages liquefy a portion of your homes equity creating increased cash…

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Housing Counseling is Savings Homes and Educating Homeowners

Housing counseling has risen over the last few years, and according to a recent study for NeighborWorks America by the Urban Institute it’s working. Homeowners have saved tens of millions of dollars by becoming more educated about their obligations to their lenders, their lenders obligations to them and the mechanics of their current loans or…

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