Heritage Reverse Mortgage Blog
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Beat the 2022 Recession with a Reverse Mortgage
Have we entered the 2022 Recession? Normally, a Recession is defined as “two consecutive quarters of declining GDP." First and second quarters of 2022 were both negative so technically we should be in the 2022 recession but no politician is willing to admit that a...
Are Adjustable Interest Rates a Good Strategy?
https://youtu.be/NU_yvqACHWQ Are Adjustable Interest Rates a Good Strategy? There are pros and cons to having an adjustable-rate mortgage. For the right person, an Adjustable Rate is the best option and will save many thousands of dollars but for the wrong person, an...
Recession 2023 – The Great Toy Crash
https://www.youtube.com/watch?v=n_0pXG1x2Uw Recession 2023 Will there be a Recession 2023? Fortunately, YES. maybe you’re surprised that I think this is a good thing but keep reading and I think you’ll agree that Recession 2023 is going to be a good thing. I’ve been...
Interest Rates are Rising, Last Call to Refinance
Inflation is taking off. What does that mean for Interest Rates? Inflation in the US is higher than it’s been since 1982. If you remember 1982 you probably remember your 18% Mortgage rate. So, if inflation is taking off now does that mean we’re heading for 18% rates...
Downsize with a Reverse Mortgage
A downsize with a Reverse Mortgage could be an excellent option to live better in retirement. Life Happens It’s amazing how dramatically life can change from year to year. My wife and I have six kids all under 12. I can see already that our housing needs are going to...
What are Reverse Mortgage Equity Reserves?
The Mechanics of a Reverse Mortgage require Equity Reserves to protect the homeowner, bank, and FHA. Mechanics Reverse Mortgages are negative amortization loans. Therefore, if payments are not made, the balance of the mortgage will increase. This happens because the...
Appraisal Required Repairs
Occasionally our clients face what’s called Appraisal Required repairs. Because FHA insures the majority of Reverse Mortgages they get to determine what is an acceptable condition of a property. Occasionally as part of the appraisal process, we identify certain...
The Power of Reverse Mortgage Interest Rates
Reverse Mortgage Interest Rates are a little different from standard Mortgage Interest Rates. The idea is essentially the same but how the reverse mortgage interest rate affects the loan is pretty unique. Understanding these differences can have a big impact on how...
Heritage Reverse Mortgage in Texas
We are so excited to announce the recent licensing of Heritage Reverse Mortgage in Texas. (Link 3) Serving more people in Texas Our past clients often refer friends and family to us. A Reverse Mortgage is a life-changing event. Therefore, it's something people want to...
Heritage Reverse Mortgage in California
Serving More People in California A Reverse Mortgage is a life-changing event. Our past clients often refer friends and family to us. Therefore, it's something people want to share with those they care about. Our clients know from experience that we’ll take care of...