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What Your Heirs Need to Know if You Have a HECM Reverse Mortgage

October 17th, 2014

A Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, is a nonrecourse loan. This means that if your home is sold to repay the loan, you or your heirs will never owe more than the loan balance

Planning for Long Term Care

July 28th, 2014

Planning for long term care can be a confusing, overwhelming process. Long term care… “is designed to cover long-term services and supports, including personal and custodial care in a variety of settings such as your home, a community organization, or

Save Money By Breaking These Habits

July 14th, 2014

We all have little habits that are costing us money. When added up through the years, how much money could you save if you kicked these common money-draining habits1? Aggressive Driving. Not only is fast, aggressive driving bad for your

New Reverse Mortgage Non-Borrowing Spouse Rule

June 30th, 2014

Congress established the Home Equity Conversion Mortgage (HECM) program to be administered by the Department of Housing and Urban Development (HUD) in 1987. Since then, HUD has continued to update the program to better fit the needs of borrowers and

Five Things to Know About Reverse Mortgages

June 25th, 2014

Reverse mortgage loans can be a helpful financial option for senior homeowners struggling to make ends meet, but they are not appropriate for everyone. We have highlighted five things potential borrowers should know when considering a reverse mortgage loan. 1.

2014 EBRI Retirement Survey Indicates Seniors Struggling With Debt

May 9th, 2014

The Great Recession is over, but many are still feeling the pain as they recover financially. At-risk groups such as the growing senior population are especially vulnerable. Many retirees were forced into early retirement in recent years and feel financially

Learning to Age Comfortably in Place

May 1st, 2014

According to a recent study conducted by AARP, there has been a steady increase in senior citizens who wish to stay in their own homes as they age. This rising trend accounts for 90% of the seniors surveyed and is

A Brief History of the Reverse Mortgage

April 17th, 2014

For many senior homeowners, accessing a portion of the equity that they have built in their homes can be a vital financial resource. Over the years, Home Equity Conversion Mortgages (HECMs), also known as reverse mortgage loans, have helped many

7 Things to Know About Reverse Mortgages

February 10th, 2014

A reverse mortgage loan is a home equity loan that allows eligible seniors to access some of the equity they’ve built in their home. This can be an attractive financial option for seniors who find themselves house-rich but cash-poor and

Using a HECM To Purchase Your Next Home

January 3rd, 2014

In 2008, Congress authorized the HECM (Home Equity Conversion Mortgage) for Purchase loan program which allows qualified seniors, ages 62 or older, to purchase a new principal residence using the equity from the sale of a previous residence or other

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