Archive for January 2014

Eleven Points to Remember When you Take Out a Reverse Mortgage

There have been so many changes in the FHA-insured HECM loan over the past year that new loan applicants may be feeling confused. If you’re considering a reverse mortgage, some of the most important aspects of the loan include:
1. You have two loan options, the HECM Standard (a combination of the former HECM Standard and [...]

Thinking About a HECM Loan? Ask the Right Questions!

If you’re planning on applying for a Reverse Mortgage in the near future, you can prepare yourself by reviewing some preliminary information about HECM loans.

The HECM Reverse Mortgage is a federally-insured mortgage that allows you to mortgage your home to a lending institution, access up to 60% of your home’s equity and continue to live [...]

Reverse Mortgages Finish 2013 With a Bang

The year 2013 saw the Home Equity Conversion Mortgage (HECM) go through numerous changes — the most wide-ranging and comprehensive changes that the product has seen since it was introduced in 1989.  At the beginning of 2013 the Department of Housing and Urban Development, the Federal Housing Authority and Congress were reeling from a 2013 [...]