Effective on April 27, 2015, The Department of HUD introduced a financial assessment requirement for all reverse mortgages applicants. If your looking to apply for a reverse mortgage, you now have to demonstrate they have the ability to meet their monthly…
Before applying for a reverse mortgage, you are required to complete 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…
If your thinking about getting a reverse mortgage you've probably done a lot of research online. To get a good idea if a reverse mortgage is right for you it helps to see your numbers, possible scenarios and have…
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…
Today many seniors are finding ways to reduce living expenses and preserve retirement savings. This has lead to an increase in the popularity of reverse mortgages on all properties including Manufactured Homes. Certain manufactured homes will qualify…
Hello, I'm Mark Daly a loan originator(NMLS#317641) LocalReverse.com by Group One Mortgage. Recently I had a customer who was faced with foreclosure. She had lost her husband to cancer, she also lost his income and was horrified to…