How long does a Reverse Mortgage last?

How long does a Reverse Mortgage last?

How Long does a Reverse Mortgage Last? Answer: As long as you need it too. Age Limit Technically speaking a Reverse Mortgage is guaranteed by HUD/FHA until age 150 of the youngest Borrower. But because that number is still so far above current life expectancy the real...
What is a HECM Refinance?

What is a HECM Refinance?

What is a HECM Refinance? AKA a HECM to HECM Refinance? Most people don’t know that a Reverse Mortgage can be refinanced. A Reverse Mortgage is like any other mortgage. If we can improve the terms of a Reverse Mortgage we can refinance it.  Why Refinance a HECM?...
How does a HECM Loan Work?

How does a HECM Loan Work?

How does a HECM Loan Work? Answer: Just like your conventional mortgage but with no payments. Misconceptions: People tend to fear what they don’t understand. Reverse Mortgages often gets a bad rap because people think they are more complicated than they really are....
Who owns my home with a Reverse Mortgage?

Who owns my home with a Reverse Mortgage?

Who owns my home with a Reverse Mortgage? The quick answer is, you do.  There is a false conception that if you do a Reverse Mortgage you are giving your home to the bank and the bank is letting you live in it for the rest of your life. Fortunately, this is not...