Reverse Mortgage Stats
How Age Affects Your Reverse Mortgage Amount
When banks consider reverse mortgage risks, they take into account the age of the applicant as the older they are the less risk they have of “living longer.”
Reverse Mortgage Demand Way up in 2008
The WSJ recently released a story covering the increase in demand for reverse mortgages in the US. The highlight shows that year over year reverse mortgages rose nearly 7%. “Americans have the bulk of their assets tied up in their homes, even now,” says Greg McBride, senior financial analyst at Bankrate.com. “The demand for reverse [...]
HELOC vs. Reverse Mortgage (Frequently Asked Questions)
There is a difference between a HELOC and a Reverse Mortgage, although to the average consumer they seem pretty close. Bankrate, does a fabulous job explaining the difference. A reverse mortgage is an interest-only loan that capitalizes the interest expense along with the principal. That means that there are no loan payments at all until [...]