Archive for June 2012

NRMLA launches Borrow with Confidence

The National Reverse Mortgage Lenders Association (NRMLA) has launched a new national public education campaign. This campaign, called “Borrow with Confidence” provides senior citizens with the information and tools that they will need as they consider the pros and cons of a Reverse Mortgage and navigate the process of applying for a HECM loan.
Reverse Mortgages [...]

HECM Counseling

The Department of Housing and Urban Development (HUD), which initiated the Home Equity Conversion Mortgage loan option in 1989, has proved receptive to the public’s concerns about the mortgage. The HUD has made periodic adjustments and changes in the loan’s procedures and structure so that borrowers will be able to obtain a Reverse Mortgage which [...]

Do You Qualify for a Reverse Mortgage?

Since 1989 retirees have had the opportunity to access the equity in their home for living expenses, home repairs or other needs through the Home Equity Conversion Mortgage (HECM) loan. This loan presents senior citizens aged 62 and older with the prospect of using their home as an asset which allows them to obtain a [...]

Changes in HECM Loans and their Effect on the HECM Market

In a recent review of the Reverse Mortgage loan, the AARP (American Association for Retired Persons) suggests that potential borrowers review the changes that have taken place in the Reverse Mortgage market before they apply for the loan. While the Reverse Mortgage has been an option for senior homeowners since 1989, recent changes, including new [...]

AARP Reviews Reverse Mortgages

As a leading advocate for the rights of older American, the AARP (American Association of Retired Persons) has been involved in advising retired people about the pros and cons of taking out a Reverse Mortgage. The AARP has expressed reservations about the Reverse Mortgage option and is attempting to work with relevant authorities and government [...]