Heritage Reverse Mortgage Blog
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Why do people get Reverse Mortgages? – To see my children
“Children are a heritage from the Lord… Blessed is the man whose quiver is full of them.” Psalm 127: 3, 5 Nothing has brought me greater happiness in life than my wife and children. I can understand why so many of my clients want to spend so much of their retirement...
Why do people get Reverse Mortgages? – Home Remodel
https://youtu.be/NE8ZNJ39KK4 A Home Remodel is another very common reason for doing a Reverse Mortgage. As of today, in 2021 the housing market is on fire. Home prices are soaring which is fantastic for anyone who wants to sell a home but the problem is in replacing...
Why do people get Reverse Mortgages? – The Death of a Spouse
There are endless reasons why people choose to do a Reverse Mortgage, the death of a spouse is amongthe more common. This situation was one of the reasons I dedicated my career to doing ReverseMortgages exclusively. Scenarios like this confirmed for me that as a...
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 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? 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? 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 the difference between a HECM Mortgage and a Reverse Mortgage?
https://youtu.be/9UJW6uMJCMs 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...
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? 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...