Last week I had a call about reverse mortgages. The Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov has some great information about this type of home loan. A Home Equity Conversion ...
A reverse mortgage is a special type of home loan that allows homeowners 62 and older who have paid off all or most of their mortgage to withdraw some of their home’s equity and convert it into cash.
Reverse mortgages can be a versatile tool in many retirees’ arsenal, helping to bridge the gap when Social Security and savings aren’t quite enough on their own. A chief benefit of reverse mortgages ...
At 65, she is preparing for retirement and is considering tapping into her own 401 (k) to pay back the reverse mortgage.
Personal-finance blog NerdWallet presented a straightforward, unbiased look at reverse mortgage fees this week, with the help of two industry heavyweights. Paul Fiore, executive vice president of ...
Just like any business, mortgage brokers have expenses to run their business. For reverse mortgage brokers, we have to cover loan officers, staff salaries, administrative costs, office space, ...
I received a note recently from someone who was outraged at what he considered to be the shark-like and perhaps illegal fees connected with reverse mortgages. The man's elderly friend had obtained a ...
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