Reverse News

Fed Drives Interest Rates Even Lower

The Federal Reserve recently announced that long-term interest rates, which are already at historic lows, would now go even lower!  If you have been thinking about refinancing your mortgage but were holding off in hopes that rates would lower even further, now is the time to take action.  With what they are calling "exceptionally low" interest rates, it is the best and possibly only time to lock in your interest rate in at all time lows!  The risk is waiting and not acting, so ca ...

FHA Reverse Mortgage Program

The FHA-insured Reverse Mortgage Program gives homeowners, 62 years of age or older, the opportunity to use the equity they have built in their home to access tax-free money to use as they wish, all while the homeowners retain title and remain living in their home. And, homeowners are not required to make any monthly mortgage payments for as long as they live in the home. There are no credit score or income qualifications and you have the choice of flexible draw options that include a lump su ...

The Latest News in the Reverse Mortgage Industry

Reverse mortgages are loans available to senior citizens aged sixty-two and above enabling them to continue to live in their homes while withdrawing their equity in the form of a loan. The funds can be paid to the senior in monthly payments, cash withdrawal or a line of credit. Both singles and couples can remain in their homes for their lifetime unless they decide to sell the property. They are, however, responsible for paying the taxes and insurance on the house.

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Finally, a Reverse Mortgage With Reasonable Upfront Costs

A financially comfortable retirement is no longer a given for many homeowners. The worldwide economic downturn led many Americans into crisis, facing foreclosures, job layoffs and investment portfolios with little or no value. Thankfully, for homeowners over 62, there is a way to turn equity into cash.

Many have heard the term “reverse mortgage,” but what exactly this program involves has been a mystery. The Federal Housing Administration (FHA) announced their new reverse mortga ...