Tag Archives: national reverse mortgage lenders

Setting Limits On Reverse Loans

From the LA Times: Are you 62 or older, own your own home and thinking about a reverse mortgage? HUD today approved a new national limit of $417,000 for Home Equity Conversion Mortgages (HECMs). This is higher than previous lending … Continue reading

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The Popularity Of Reverse Mortgages

Ann Gowans writes: The popularity of the reverse mortgage is soaring. Reverse mortgages are available to homeowners age 62 and older and allow these clients to use their home equity without having to meet income requirements, sell their house or … 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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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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