Some people are convinced that a reverse mortgage is a trick—at first. And there are some historical reasons for that belief. Reverse mortgages have been around since the 1980s. Years ago, some questionable lenders failed to disclose that you are required to pay homeowners insurance and property taxes (which are paid through an escrow account […]
Bob Muni, Sr.Loan Officer and Reverse Mortgage Specialist, addressed a crowd at the annual Senior Expo in Colorado Springs Saturday, October 18, 2019.
The Home Equity Conversion Mortgage for Purchase, or HECM for Purchase, allows seniors to buy a new home by putting a reverse mortgage on it. A reverse mortgage is a type of home equity loan that allows senior homeowners age 62 or older to borrow against the value of their homes. No repayment of the […]
Should I wait to set up a Reverse Mortgage loan? Many see a reverse mortgage loan as a last-resort option for seniors who want to stay in their homes but have little resources and few options left. In recent years, a number of retirement experts and financial planners have realized that a reverse mortgage loan […]
How today’s successful advisors are incorporating reverse mortgages in their practices by Don Graves, President of the Institute for Housing Wealth Studies With the current retirement income crisis facing baby boomers, advisors need every viable resource to help their clients and sustain their practice. One resource, often overlooked, is home equity. Currently there is more […]
Many concerns about reverse mortgages are driven by misconceptions and half-truths about how the program works. In recent years, concerns about borrowers’ risks have been addressed by new guidelines from the Federal Housing Administration, which insures these loans. Still, service providers, reverse mortgage experts and financial planners can do more to help Seniors determine whether […]
When the Federal Reserve lowers interest rates, it provides an exciting opportunity for those looking to buy real estate. But what about seniors who are happy in their homes? Can lower rates help them? Refinancing or getting a home loan as a senior can be difficult, especially if you’re on a fixed income. The good […]
When speaking with prospective clients, we find that they are often confused. They often ask – “a reverse mortgage loan requires no payments?” This doesn’t seem logical and may often sound like a scam as we were all brought up to believe that mortgage loans require some form of periodic payments. So just how does […]
Our very own Kathy Muni was featured in Reverse Mortgage Daily, highlighting her background as a teacher and how it has served her well in educating seniors about reverse mortgages and helping provide them with relief in retirement. Thank you Chris and Reverse Mortgage Daily for the great article and interview! The complete article is […]
