Government
2009 Reverse Mortgage & HECM Limits
While reverse mortgage loan limits recently increased nearly $60,000 homeowner’s equity could not fall any faster if it tried. It seems that as a mortgage broker, those of us with insights to understand that the good times of easy financinig would not last and were smart enough to seek alternate revenue streams like the reverse [...]
The Growing Link Between Reverse Mortgages and Long Term Care
In a study completed by the Brookings Institute we find that many seniors in or approaching retirment are ill equipped financially to provide for themselves financially and that long term care is indeed a luxury. Despite the estimated cost of paying for LTC services and the strain it puts on retirement savings, very few people [...]
Are You Ready For Reverse Mortgage Counseling?
Reverse Mortgage or the Home Equity Conversion Mortgage Reverse mortgage counseling is primarily for homeowners who are seriously interested in applying for a federally-insured or proprietary reverse mortgage. Specific types of reverse mortgages are discussed in Home Made Money, a publication by the American Association of Retired People (AARP). Reverse mortgage counseling is a legal [...]