What the Difference Between a Reverse Mortgage and a Home Equity Loan?
Reverse Mortgage vs. Home Equity Loan The reverse mortgage program is not as “new” as people might think. While it wasn’t as well known or sought after as today the first program of its kind began in the 1960’s where it remained in relative obscurity until the Department of Housing and Urban [...]
Golden Debt Years
Golden Debt Years The Golden Years might not be so “golden” anymore, especially because of debt. More and more often, older Americans are retiring to soaring medical care expenses, high credit card balances and the stress of second mortgages, making retiring to a “life of luxury and relaxation” a distant dream instead of a [...]
“Short-Sighted” Changes Are Coming to the Reverse Mortgage Program
“Short-Sighted” Changes Are Coming to the Reverse Mortgage Program The reverse mortgage program, as we know it, will be gone October 1. While the specifics on how these changes will be implemented, and regulated, are yet to be seen as well as the consequences of so many changes with little prior notice, [...]
Financial Column: “Take a Reverse Mortgage NOW”
The Benefits of a Reverse Mortgage Line of Credit Option Financial Columnist Jane Bryant Quinn says: “Take a Line of Credit Now” The reverse mortgage program is changing. By the end of September, the program that you and I know as “the reverse mortgage program” will no longer exist. How is [...]
An Update on the Upcoming Reverse Mortgage Program Changes
As changes to the reverse mortgage program continue, the specifics of the changes continue to trickle in. In the National Reverse Mortgage Lenders Association’s Weekly Report, President and CEO Peter Bell, details various updates on the upcoming changes. In addition to the consolidation of the two existing reverse mortgage products–the Standard and Saver–into [...]
Reverse Mortgage Line of Credit
Reverse Mortgage Line of Credit Option The Home Equity Conversion Mortgage, or Reverse Mortgage is beneficial to older Americans looking for a way to supplement their fixed income during retirement or, to even plan ahead for their retirement. The fact of the matter is, not everyone retires 65, because the [...]
