Category Archives: Reverse Mortgage

Seniors Benefit From New Housing Bill

From Kiplingers: When trying to figure out who benefits from the new housing law, don’t forget to count seniors who are in the market for a reverse mortgage. These mortgages let seniors convert some of their home equity into a … Continue reading

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When Is A Reverse Mortgage Right For You?

From The Street: Reverse mortgages, which enable seniors to borrow money against their homes that won’t get repaid until after they move out or die, can be useful tools. Los Angeles resident Stephanie Hodal is a case in point. In … Continue reading

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AARP Vs. Life Insurers

From the Hill: At issue is a provision that would prevent providers of so-called reverse mortgages, a government-backed loan designed to help cash-strapped seniors tap into their home equity, from selling borrowers another investment for the proceeds of the loan. … Continue reading

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What’s A Reverse Mortgage?

Julie Garton-Good writes in her 2008 book "All About Mortgages": Reverse Annuity Mortgages (RAM) allow persons over the age of 62 to release equity in their primary residences without having to sell and move from their homes. Instead of making … Continue reading

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Mortgages & Retirement

From indystar.com: The headline read: "Mortgages No Longer a Stigma in Retirement." Baby boomers, the survey revealed, are in no rush to pay off their mortgages. There was a time when people would throw parties to celebrate being released from … Continue reading

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Don’t Expect An Inheritance

From the New York Times: It’s getting easier to drain a home’s equity. Homeowners who are 62 or older (though there are some exceptions) can take out a reverse mortgage, which is roughly akin to a home equity loan that … Continue reading

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Oldsters Feel Lure Of Reverse Mortgages

From Bloomberg: Shapiro got a reverse mortgage from World Alliance Financial. The loans, on which lenders charge fees equal to as much as 6 percent of a home’s value, are for people aged at least 62 and allow borrowers to … Continue reading

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The Perils Of Reverse Mortgages

From the AP: The typical customer owns the home outright or has a relatively low mortgage balance. About 90 percent of U.S. reverse mortgages are Home Equity Conversion Mortgages, or HECMs. Nationally, the reverse mortgage bandwagon is filling up. In … Continue reading

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Blaming Everyone But The Borrowers

From Newsbusters: How does a former reporter for The Washington Post score a 2,200-word column on the mortgage mess in her former publication? Never mention personal responsibility. Kathleen Day took blame to a new level June 1 when she failed … Continue reading

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