Protected: Aging with Grace using a Reverse Mortgage
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Reverse Mortgage Financial Assessment
The Department of HUD introduced a financial assessment requirement effective on April 27, 2015, for all Reverse Mortgages applicants. Now applicants have to demonstrate that they have the ability to pay their monthly expenses. Although this will help reduce the number of defaults…
Reverse Mortgage Counseling Process
Before applying for a reverse mortgage, you are required to attend a 3rd party counseling session. The U.S. Department of Housing and Urban Development (HUD) sponsors housing counseling agencies throughout the country and counseling is available in many languages. Participating in the…
The Reverse Mortgage Process
The Initial Consultation The first step in the process begins with an initial consultation which can be very informational. During the consultation we will discuss how a reverse mortgage works, discuss your specific options in detail and answer all your…
Reverse Mortgage Purchase in Florida
What is a HECM Reverse Mortgage Purchase? Yes, you can buy a home with a reverse mortgage. Many qualified home buyers and even real estate professionals are learning about the features of the reverse mortgage purchase. If…
Reverse Mortgage for a Manufactured Home
Today many seniors are finding ways to reduce living expenses and preserve retirement savings. This has lead to an increase in the popularity of Home Equity Conversion Mortgages also known as Reverse Mortgages on all properties including Manufactured Homes that qualify. …
Taxes & Homeowners Insurance on Reverse Mortgages
Although a Reverse Mortgage does not require a monthly mortgage payment, it does NOT eliminate other monthly housing expenses such as taxes, insurance for homeowners and maintenance. In the past, some borrowers that have received Reverse Mortgages, have later fallen…
5 Common Reverse Mortgage Misconceptions
1 The lender will own my home. When entering into a Reverse Mortgage the borrowers retain title to the property as long as they continue living in the home. The lender only has a lien attached to the property. 2 Any…
Palm Beach County Reverse Mortgage Lender
Group One Mortgage is Headquartered in Palm Beach County, with a Reverse Mortgage team specializing in Reverse Mortgage Loans. Our staff works with reverse mortgage applicants through the entire application. Our experts will discuss your options in detail, provide you…
Are You Eligible for a Reverse Mortgage?
Eligible Reverse Mortgage ? Another great article from Forbes covering Reverse Mortgage eligibility. This Forbes article contains great information that covers the basic eligibility requirements for HECM Reverse Mortgages. Posted on Forbes by Wade Pfau The…