by Cherie | Aug 7, 2023 | Education
Under what circumstances would a reverse mortgage become due for payoff? One is when the last borrower moves out for more than a year, passes away or the home is no longer their primary residence. Another scenario would be if the property taxes or homeowner’s... by Cherie | Jul 25, 2023 | Education
What are the eligibility requirements for a reverse mortgage? For an FHA Reverse Mortgage, the youngest borrower must be at least 62 or at least 55 for a “Jumbo” non-FHA reverse mortgage. They must have 50-60% in home equity – or more – and it must be... by Cherie | Jul 11, 2023 | Education
Let’s examine exactly what the term “reverse mortgage” means… and how it works differently from a traditional mortgage. When you make a payment on your traditional mortgage, the balance goes down a painfully small amount each month. But, with a reverse mortgage, you... by Cherie | Jun 27, 2023 | Education
Senior homeowners are finding that a reverse mortgage can be a cost-effective way of addressing some of their biggest financial concerns. For example, a reverse mortgage improves cash flow in retirement – free of income tax – allowing homeowners to pay off their... by Cherie | Jun 13, 2023 | Education
Here are some of most common misconceptions about reverse mortgages. You do not have to give up the title of your home – you remain the owner – and you don’t have to own your home outright to qualify for a reverse mortgage. A reverse mortgage is not a loan of last... by Cherie | Jun 2, 2023 | Education
There are lots of misconceptions about reverse mortgages, particularly among senior homeowners. A reverse mortgage can help senior homeowners who are equity rich – but need the liquidity of additional cash flow – to help fund their retirement. A reverse mortgage...
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