Reverse Mortgage Info for Adult Children
As an adult child helping parents or in-laws with a reverse mortgage, it is understandable to have a lot of questions since these interfamily financial decisions can be very complex. You want to do...
View ArticleFHA Reverse Mortgage Condo Requirements
If you are looking to take out an FHA reverse mortgage (HECM) against your condo or are looking to buy a retirement or vacation condo using an FHA reverse mortgage purchase loan, it’s important to...
View ArticlePros and Cons
There are many factors to consider when figuring out if a reverse mortgage is right for you, so it is important that you understand all of the possible benefits and pitfalls. These loans are not for...
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Reverse Mortgages on Rural Properties: What You Need to Know
When you own a property in a rural area, the most likely reverse mortgage issue you’ll have is with the appraisal. The appraiser is required to find three similar sales in the past twelve months that...
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FHA Reverse Mortgage Requirements on Wells and Septic Tanks
If you are interested in an FHA reverse mortgage, and your property has a well or septic tank, there are some specific requirements you will need to be aware of.Connecting to Public ServicesWith...
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Reverse Mortgage Qualification: How We Determine Eligibility
The main question we are asked is why does a loan, with no required monthly repayment of principal and interest, require you to qualify for it? Or I thought reverse mortgages do not require any kind...
View ArticleWhat Is a Reverse Mortgage?
A reverse mortgage is a first mortgage loan that can be used to pay off an existing mortgage, get cash out, or set up a line of credit for future draws. The main differentiator between it and a...
View ArticleHow To Use A Reverse Mortgage To Repair A Home
There exists a common misconception that a reverse mortgage can be used to fix a home, with no further clarification. It appears to stem from various marketing efforts that you see in print or on...
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Reverse Mortgage Line Of Credit – 5 Things You Need To Know
If you are considering a reverse mortgage, or researching one for a parent, friend, or client, we suggest you educate yourself on some of the most important features of the line of credit. A reverse...
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