As Reverse Mortgages become and more common option for seniors across the nation, the cons and scammers are common up with ways to rip them off. It is important to talk to a reputable reverse mortgage lender, make sure you are supplied the correct documentation, and see or speak with a HUD Counselor.
Reverse Mortgage Scams [...]
You hear and read a lot of articles about reverse mortge cost and fees being higher than equity lines, refinances, or normal home purchases. In retrospect they can be higher, however the reduced qualifications requirements is a pro instead of a con. I found a comment from an individual replying to costs of a reverse [...]
We have seen a handful of new reverse mortgage lenders and reverse mortgage brokers using a heavy “debt consolidation” pitch to push more consumers into reverse mortages. Reverse Mortgages can be a great tool for debt consolidation however certain steps need to be followed to insure you don’t repeat your previous actions and go back [...]
The new lending limits for Reverse Mortgages are now in effect. Any Reverse Mortgages that get started after today will be able to participate in the most important change in the history of government sponsored Reverse Mortgages.
These Reverse Mortgage lending limits mean that your home will be able to have its entire value taken into [...]
With the passing of The Housing and Economic Recovery Act of 2008, new Reverse Mortgage lending limits are set to take effect at the end of the year. This will mean that more money for individual homes will be available.
With the end of IndyMac bank as a Reverse Mortgage Lender and their remittance of [...]
