There are three types of reverse mortgages: Home Equity Conversion Mortgage (HECM), proprietary reverse mortgage, and single-purpose reverse mortgage. Homeowners must choose the best one for their situation. Learn about each loan in this article.
There's a lot to consider with a reverse mortgage, especially when the borrower dies. It's important that heirs understand the problems they may encounter and their responsibilities in this situation. Continue reading for helpful info.
With so many older Americans carrying mortgage debt with them later in life—and many expressing uncertainty about the financial future if savings ran short—bringing a mortgage into retirement could very well prove to be an increasing concern among retirees.
Invest in your future with reverse mortgages. These helpful financial tools are most effective when you know how they work and when they make sense to use. Learn about reverse mortgages by the nation’s most trusted mortgage expert, American Financing.
According to American Association of Retired Persons (AARP) research, nearly 90% of seniors want to age at home. Some will stay put in their memory-filled home, while others will downsize. Options are plenty. But, it’s important to understand what’s feasible. Will your retirement investments last? What backup options do you have? Your home should be near the top of your list.