My Reverse Mortgage Costs How Much?

As a short term financing tool, reverse mortgages are an expensive proposition. However when used long-term, those expenses are spread throughout the life of the loan, making a reverse mortgage a viable solution to supplement retirement income, pay off a mortgage and have extra cash available to enjoy life to the fullest without the worry of mortgage …

Misuse of Reverse Mortgage Terminology

I recently read an interesting article by James E. Veale of Security One Lending on Reverse Mortgage Daily titled “Are Reverse Mortgages Really Income?” The main thrust behind the article is that several reverse mortgage professionals are misusing the term “income” to describe the proceeds of a reverse mortgage.

With money running out, he cosiders a reverse mortgage

Great article from the Wednesday, February 4, 2009 Sacramento Bee. In the article Rashida Lilani recommends as a way to increase options, that seniors go through a broker when obtaining a reverse mortgage versus a bank. She also advises to “do your homework.” MLS Reverse Mortgage advises the same. A reverse mortgage is a major …

Stimulus Bill Compromise Includes Higher HECM Loan Limit

NRMLA – reversemortgage.org NRMLA is pleased to announce that we have learned that the compromise package emerging from the House-Senate conference committee includes the House language setting the HECM loan limit at 150% of the Freddie Mac limit, which would put it at $625,500 — for the balance of 2009 only. (Congress would have to act …