Archive for August 2012

What You Should Know Before You Take Out A Reverse Mortgage

You’re retired, a little short on cash and looking for a way to stretch your existing income. What are your options?
One possibility that is growing in popularity is the Reverse Mortgage loan. Reverse Mortgages are available to seniors aged 62 and older who want to access the equity that they hold in their home. When [...]

Reverse Mortgage Considerations — Part III

Applying for a Reverse Mortgage entails a wide range of decisions, not the least of which involves the question of when is the best time to apply for a Reverse Mortgage.

According to the Reverse Mortgage guidelines as established by the United States Department of Housing and Urban Development (HUD), senior homeowners may apply for a [...]

Reverse Mortgage Considerations — Part II

Seniors citizens who are investigating the possibility of applying for a Reverse Mortgage may feel overwhelmed with the constant flow of information about the loan — much of the information including conflicting and confusing data. A Reverse Mortgage has the potential to relieve the financial stresses of many retirees but some people feel that, when [...]

Reverse Mortgage Considerations — Part I

Seniors looking at a Reverse Mortgage option may feel that they can’t go wrong with the attractive loan option but fiscal advisors caution potential borrowers to review their financial status carefully before they apply for the Reverse Mortgage loan. A Reverse Mortgage can provide a needed monetary boost for retirees but it’s not always the [...]

Myths about Reverse Mortgages

In July 2012 the National Council on Aging (NCOA), a nonprofit service and advocacy organization which functions as a national voice for older Americans, released a guide that summarizes the myths and facts surrounding the Reverse Mortgage loan option.

The NCOA is dedicated to improving the financial well-being of older adults by providing services and resources [...]