by TMD_Admin | 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 TMD_Admin | 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 TMD_Admin | 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 TMD_Admin | 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...
by TMD_Admin | Sep 22, 2020 | Uncategorized
With Reverse Mortgages you have two basic loan options. The options are the Traditional Fixed Rate Reverse Mortgage or the Growth Line of Credit. Both have pros and cons and the right choice really depends on your specific situation. General HECM Benefits: Regardless...