Seniors are commonly told that reverse mortgages are not short-term loans. If an individual plans to move in the next few years, a reverse mortgage will probably not be his or her most economical option. In the past, seniors who planned to move in the near future did not have ... Read more (515 words)

Reverse mortgages are unique loans that give seniors the opportunity to withdraw a portion of their home equity and defer payment until their home is sold. Unlike other loan products, these loans carry strict age requirements. To qualify for a loan, borrowers can be no younger than 62 years of ... Read more (500 words)

Many consumers think of lenders as the enemy. They are the ones charging expensive fees, giving borrowers high interest rates and, when it comes to reverse mortgages, taking advantage of seniors. Fortunately, this could not be farther from the truth. Reverse mortgage lenders are a senior's greatest ally. A great ... Read more (547 words)

How to Tell the Good Reverse Mortgage Lenders from the BadHome Equity Conversion Mortgages, or HECMs, are insured and regulated by the federal government. Because these loans are so strictly regulated, many seniors are under the impression that all lenders offer the same experience. While lenders are limited in the ... Read more (576 words)

What is a reverse mortgage? This question is one commonly asked by retirees and pre-retirees looking for ways to add to their retirement savings. According to a recent article in the Washington Post, reverse mortgages "can be a good option for seniors," sometimes even more favorable than forward mortgage loans. ... Read more (555 words)

Many senior homeowners have spent years building equity in their homes. In fact, some seniors have put so much money into their homes that their retirement savings is not quite where they hoped it would be. To supplement their savings, seniors are now choosing to use their home equity to ... Read more (553 words)

A reverse mortgage is a loan that allows senior homeowners to convert a portion of their home equity into cash. Unlike conventional mortgage loans, which require borrowers to make monthly payments to their lender, these loans actually pay the borrower. Borrowers are not expected to repay their loan until they ... Read more (517 words)

The history of reverse mortgages is substantially more interesting than many would think. While these loans have only become popular in the past 15 years, they have actually been around for decades. Contrary to what naysayers often say about these loans, their history is teeming with generosity, financial innovation, and ... Read more (535 words)

While reverse mortgages sometimes make headlines, consumers can rarely find up-to-date information in their favorite newspapers and magazines. To make up for the lack of mainstream news, seniors can get the latest information by following a reverse mortgage blog. For those who have fallen behind on their favorite blog, here ... Read more (541 words)

Before tapping into one's home equity, seniors should carefully consider both the pros and cons of a reverse mortgage. While these loans benefit many borrowers, it is important for seniors to consider all of their different options. To help determine whether a loan might be in a consumer's best interest, ... Read more (547 words)