Mortgage Lenders News

About reverse mortgage

A reverse mortgage is a mortgage loan, usually secured over a residential property, that enables the borrower to access the unencumbered value of the property.

The good news for heirs is that reverse mortgages are "nonrecourse" loans. That means if the loan amount exceeds the home’s value, the lender cannot go after the rest of the estate or the heirs.

A reverse mortgage is a type of mortgage loan that’s secured against a residential property, that can give retirees added income, by giving them access to the unencumbered value of their.

The good news for heirs is that reverse mortgages are "nonrecourse" loans. That means if the loan amount exceeds the home’s value, the lender cannot go after the rest of the estate or the heirs.

Because of the actions it has taken concerning the expansion of both its forward and reverse mortgage business arms, questions about exactly what it intends to do with its newfound resources naturally.

Heartland Group, owner of reverse mortgage specialist Heartland Bank, has recorded a net profit after tax of $73.6 million.

Reverse Mortgages Now Harder to Get. If you’ve thought about taking a reverse mortgage, be aware that new rules might make it harder for you to qualify

A mortgage finance expert describes how reverse mortgages can potentially act as a “lifesaver” for some seniors in specific financial situations, along with offering advice related to home equity.

Previously, I demonstrated current savings rates and pension plans are largely inadequate to function as two of the traditional pillars of a well-funded retirement. Today, I will examine the potential.

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I am a 65-year-old, semi-retired single female. Because of my personal and financial situation at the time, I started collecting my Social Security. I needed it to supplement my part-time income in.

There’s an old adage that says that “two heads are better than one,” and when it comes to the promotion and origination of reverse mortgages, having a team work together toward a common goal can often.

A reverse mortgage is a type of loan that's reserved for seniors age 62 and older, and does not require monthly mortgage payments. Instead.

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It’s been too long since we’ve shared our Q&As with our readers. So, today we remedy that. Here’s what readers have been.