Search Results for: reverse mortgage

Is a Reverse Mortgage a Good Strategy in This Economy?

If you’re a homeowner nearing retirement age, you’ve probably seen the TV commercials about reverse mortgages. Tom Selleck offers a friendly explanation of reverse mortgages and how people use them. How accurate is what he and … [Read more...]

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Reverse Mortgage Industry in Trouble?

I’ve written several times over the years on the topic of Reverse Mortgages.  My first article explained the concept and requirements of a Reverse Mortgage and how seniors can use a reverse mortgage.  My second article, … [Read more...]

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The Reverse Mortgage Saga Part 6: “How One Reverse Mortgage Lender is Helping Americans Stay at Home”

I have chronicled the ups and downs of the reverse mortgage industry for the past five years.  In 2010, I exposed two major problems with the reverse mortgage industry -- the “competency problem” and the “expense problem.” I … [Read more...]

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Attitudes Are Changing About Reverse Mortgages

Q. My mother-in-law, Rita, owns a home in Vienna that is valued at $675,000 and the amount owed on her mortgage is still around $300,000. When she retires next year, the monthly mortgage payment will be unaffordable for her, but … [Read more...]

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Reverse Mortgage Home Equity Loans

For many seniors the equity in their home is their largest single asset, yet it is unavailable to use unless they use a conventional home-equity loan. But a conventional loan really doesn't free up the equity because the money has … [Read more...]

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Using a Reverse Mortgage to Age in Place

Jim and Julie have lived in Northern Virginia for forty years and have no plans of moving. They are original owners of their home and their mortgage has long since been paid off. They are active in their community and truly love … [Read more...]

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Huge Problem with Reverse Mortgage Industry

I have always praised the use of Reverse Mortgages as a way for seniors to pay for Home Care so they don't need to leave their home and move into a long-term care facility.  See, for example, my January 30th, 2010 blog posting on … [Read more...]

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Has COVID-19 Changed Reverse Mortgages?

Q. My husband, Steven, and I have lived in Northern Virginia for nearly 40 years, and we have no plans of moving. We are original owners of our home, and our mortgage has been paid off since 1998. Our children all live close by, … [Read more...]

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Reverse Mortgages: Yes or No?

Q. I retired last year at the age of 64, and my wife has been a homemaker for quite a while. We are glad that I am retired and we are free to do what we want (we have quite a lengthy bucket list!), but we came to realize that, … [Read more...]

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No More Reverse Mortgages, Announces Bank of America

Since 2007, my opinions on reverse mortgages have been mixed.  Today, I re-examine my previous articles and prior concerns, due to Bank of America’s monumental announcement Friday that it is exiting the reverse mortgage … [Read more...]

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