Monthly Archives: October 2009

Adjustable rate home equity conversion mortgage

The Home Equity Conversion Mortgage (HECM) is FHA’s reverse mortgage program which enables you to withdraw some of the equity in your home. You choose how you want to withdraw your funds, whether in a fixed monthly amount or a line of credit or a combination of both. Continue reading

Posted in Questions About Reverse Mortgage, Reverse Mortgage Benefits, Senior Income | Tagged | 12 Comments

Monthly Adjustable vs. Fixed Reverse Mortgage

Although the lower interest rate of a variable rate mortgage can look good in the beginning, you must also look at it from a long term perspective. Continue reading

Posted in Questions About Reverse Mortgage, Reverse Mortgage Benefits, Reverse Mortgage Loans, Senior Income | Leave a comment

Planning to Move? Reverse Mortgage May not Be a Good Idea

Reverse mortgages can be a useful tool for seniors who need extra income. But for someone who doesn’t plan to live in her home for long, a reverse mortgage could be mistake. Here’s why according to a recent US News and World Report article about reverse mortgages. Continue reading

Posted in Questions About Reverse Mortgage, Retirement, Senior Income | Leave a comment

Reverse Mortgages and Small Business Cash Flow

Getting credit approval is extremely difficult, even for small business owners. The strenuous lending requirements that the banks are enforcing have made it difficult to get any type of loan. Continue reading

Posted in Reverse Mortgage Benefits, Reverse Mortgage News, Senior Income | Tagged | Leave a comment

Investing Reverse Mortgage Money in Annuities Can Be Risky

Some reverse mortgage sales persons have come under scrutiny for pushing annuities at borrowers. So what exactly is an annuity and what does it have to do with reverse mortgages? Continue reading

Posted in Reverse Mortgage Loans | Leave a comment