Blog

If you are considering getting a reverse mortgage, you may have done some research or even know someone who has one. Getting a reverse mortgage is an excellent way for people 55 years and older to convert their home equity to cash that they can use for additional retirement funds, home improvements, or medical expenses. Reverse mortgages allow the homeowner to…

When it comes to exploring the realm of reverse mortgages, having a qualified guide is paramount. While an MLO license may grant someone the title of a reverse mortgage specialist, the true measure of expertise goes beyond certification. Clients and their support teams must engage in due diligence to evaluate the experience and proficiency of…

Understanding How Reverse Mortgages Work You have probably seen commercials and heard your friends discuss reverse mortgages but they sound complicated. We get that so, we have broken down some of the basics around “How Does a Reverse Mortgage Work?” in this article. Reverse mortgages are loans for seniors 55 and older who want to…

You may have heard about reverse mortgages and thought they weren’t suitable for you. You may think they are too confusing or that you probably won’t qualify. However, reverse mortgages offer simple solutions to homeowners 62 and older who want extra funds for paying bills, traveling, or assisting in medical expenses by using the equity…

Reverse mortgages have become popularized by television commercials anchored by celebrities. To some, they may seem too good to be true. But reverse mortgages are not all Hollywood glitz and glamour. They are a way for homeowners, now as young as 55 or older, to convert the equity in their homes into spendable cash. Though…

Paying off a reverse mortgage is inevitable- at some point, the loan will need to be paid back. For adult children or heirs who inherit their parents’ housing assets with FHA (Federal Housing Administration)-insured HECM reverse mortgages, it can feel overwhelming. The impulse is often to find out how to get out of any mortgage…

The history of reverse mortgages starts with the HECM (Home Equity Conversion Mortgages) as they are known, which were formally established in the late 1980s by the federal government’s Department of Housing and Urban Development (HUD) after lobbying efforts pushed for seniors to be able to cash in on their home without having to sell.…

There are many mortgage lenders operating nationally which operate off of successful wholesale lending models, some of which have the resources to advertise phone numbers attached to centralized call centers. In addition to providing a lot of loan volume, these companies can also be powerful sources of education for reverse mortgage borrowers across the country,…

It is no secret that seniors are at an increased risk of fraud and often lose more in a fraud event than other demographics. On June 8th, 2021, the Portland, OR FBI released an article outlining one small subset of elder fraud: Real Estate Fraud. The article detailed schemes in which a fraudster takes advantage of their victims through real…

June 15th is World Elder Abuse Awareness Day, and COVID 19 has only increased our need for thoughtful and diligent work.   Elder abuse includes far more than physical harm, and during the growing isolation of the last year, rates of fraud, neglect, and financial exploitation increased. The National Center on Elder Abuse (NCEA) is working harder than…