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Archive for the ‘Reverse News’ Category

Reverse Mortgage: Know Your Facts

What is a Reverse Mortgage? A Home Equity Conversion Mortgage, (HECM), commonly known as a reverse mortgage loan, is a Federal Housing Administration (FHA) insured loan1 which allows you to access a portion of your home’s equity without having to make …

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How is the Loan Amount Calculated for a Reverse Mortgage?

An important question that is top of mind and frequently asked by seniors when they are looking into a reverse mortgage is “How much money can I get?”  There are a few key factors that are used to calculate the loan amount a borrower can receive.  Keep…

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Application Process for a Reverse Mortgage

You’re interested in a reverse mortgage, have done your research and decided on a lender.  Now, you are asking, “What is the next step?”  It’s the application.  Below are the steps involved and the information that may be requested by your lender to co…

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Reverse Mortgage Appraisals

A reverse mortgage can be beneficial to seniors who are struggling during the current economic conditions.  An important part of the reverse mortgage process is the appraisal.  With the current pandemic, there have been concerns that seniors, who have …

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Best Home Modifications For Aging In Place and How to Finance Them

Here’s are several excerpts from an article by Jeanne Lee that appeared in Bankrate.com. Most Americans over age 50 prefer to remain in their current home and community…
The post Best Home Modifications For Aging In Place and How to Finance Them …

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Increased Interest in Reverse Mortgages

A recent article from CNBC.com reveals that applications for reverse mortgages were up 15% in March 20201.  Many seniors are doing their research and are seeing how a reverse mortgage can be beneficial with the current economic climate. A reverse mortg…

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Seniors with Disabilities and a Reverse Mortgage

Many seniors may wonder if a reverse mortgage is right for them.  But what if they have a disability and are on a limited income?  They may be concerned that the additional funds from a reverse mortgage could interrupt the benefits they are receiving f…

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Refinancing a Reverse Mortgage

The Federal Reserve has taken the action of cutting interest rates to almost 0%1 due to the impact on the economy from the coronavirus.  While this a great time for borrowers considering a reverse mortgage, it may be an even better time for those borro…

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Retired seniors’ guide to downsizing

When considering downsizing your home, there are issues and stressors you may have never encountered. For seniors, this is a situation that sometimes comes from necessity. And now,…
The post Retired seniors’ guide to downsizing appeared first on Revers…

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In-Home Care and a Reverse Mortgage

Prior to the COVID-19 pandemic, many seniors made the decision to age in place.  According to an AARP survey, 76% of Americans 50 years and older said they want to remain at their current residence for as long as they can.1  With many nursing homes and…

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