by Cherie | Sep 7, 2023 | Education
Since Congress created the FHA Reverse Mortgage in 1989, many Reverse Mortgage safeguards have been put in place to protect Senior Homeowners. Counseling by an independent 3rd party is required and typically takes about an hour and is done over the phone. A “senior... by Cherie | Aug 22, 2023 | Education
What are some of the unique features of a reverse mortgage? A reverse mortgage is a “non-recourse loan”, meaning that the borrowers have no personal liability for the loan, so responsibility for repayment is transferred from the borrower to the home. Since the home... 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...
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