Category Archives: Questions About Reverse Mortgage

Home Equity Conversion Mortgage (HECM) Saver

HECM Saver is a new Reverse Mortgage product that was just release by HUD (Department of Housing and Urban Development). With an extremely low MIP (mortgage insurance premium) of only .01% of the property’s value, the costs of a HECM … Continue reading

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RMG NEWS : CCOA Announces Free HECM Counseling

Credit Counseling of Arkansas (CCOA) announced that it will be providing free reverse mortgage counseling to customers as of today. An $18,000 federal government grant from the U.S. Department of Housing and Urban Development (HUD) will allow CCOA to provide … Continue reading

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Caregivers Can Be Helped By Reverse Mortgages

A study by the National Alliance for Caregiving and the AARP showed that nearly one third of the US population are caregivers, defined as providing unpaid care to an adult or a child with special needs. These caregivers spend an … Continue reading

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Not Enough Equity For a Reverse Mortgage?

Qualifying for a reverse mortgage is based on a number of factors, including your age, the value and location of your home, and the amount owed on your home.  Ultimately, reverse mortgages allow you to access equity in your home; … Continue reading

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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 … Continue reading
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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. A fixed rate mortgage allows you to keep better track of the balance … Continue reading
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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 … Continue reading
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Reverse Mortgages: CMT vs HECM

Recently the Reverse Mortgage (also known as home equity conversion mortgage, HECM) market has added a new index to the available options. You now have a choice of the index for your loan.
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Why can’t I find out how much money I can get unless I speak with someone?

The simplest way to figure out what you qualify for on a reverse mortgage is to contact a reverse mortgage specialist. The reason for that is because, how much you actually get is determined by various factors such as age, … Continue reading
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