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...
Most Common Reverse Mortgage Scenarios

Most Common Reverse Mortgage Scenarios

There are many reasons people do Reverse Mortgages but today’s article shows the most common Reverse Mortgage Scenarios. Depending on your situation a Reverse mortgage could be an absolute life changer. Or it may just provide nominal improvement to your already solid...