Heritage Reverse Mortgage Blog

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Guide to Reverse Mortgage Statements

Guide to Reverse Mortgage Statements

Understanding a HECM Reverse Mortgage Statement Reverse Mortgage Statements are kind of difficult to understand. They are different from normal mortgage statements and they normally use different terminologies which can confuse most people. Guide to your HECM Reverse...

Interest Rates are Rising, Last call to Refinance

Interest Rates are Rising, Last call to Refinance

Interest rates are rising fast. The Year 2020 was a real nightmare for most people but the one silver lining is that we’ve experienced record low interest rates for almost a year. https://youtu.be/Jrr6KnuT6kc Unfortunately, inflation is starting to catch up with us,...

Can I inherit a Home with a Reverse Mortgage?

Can I inherit a Home with a Reverse Mortgage?

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 good...

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. https://youtu.be/IbpobuSX-cM 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...

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....

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 get a bad rap because people think they are more complicated than they really are. The...