by Trevor Carlson | Mar 11, 2021 | Uncategorized
Can I inherit a home with a Reverse Mortgage? Answer: Of course, IF you’re the heir. The False myths about Reverse Mortgages lead most people to believe that the bank will always get the home when a Reverse Mortgage is done. This is not true but its origins give...
by Trevor Carlson | Mar 3, 2021 | Uncategorized
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...
by Trevor Carlson | Feb 26, 2021 | Uncategorized
What is the difference between a HECM Mortgage and a Reverse Mortgage? Truth be told, there is no difference. In other words, they are the same. HECM is a simple rebranding of an old product. History of Reverse Mortgages: The Reverse Mortgage was signed into law by...
by Trevor Carlson | Feb 17, 2021 | Uncategorized
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?...
by Trevor Carlson | Feb 11, 2021 | Uncategorized
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 get a bad rap because people think they are more complicated than they really...
