Although Reverse Mortgages have been around for more than 20 years, a recent study conducted by the CFPB (Consumer Financial Protection Bureau) concluded that there is still a lot of confusion among consumers about what reverse mortgages are and how they work. The agency however, also concluded that the loans are a good option for […]

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Using a HECM for home purchase (Home Equity Conversion Mortgage) is available in 49 states, but not in Texas. Although FHA insured HECM reverse mortgages have been offered since 1989, it wasn’t until 1999 that Texas finally allowed its residents to take advantage of this type of home equity loan. Once again, Texas lags behind […]

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AARP spoke out in support of reverse mortgage financial assessment in May at a Congressional hearing, but with this cautionary message to House representatives: “As long as it doesn’t go too far.” HUD announced last year that it is developing mandatory financial assessment to be implemented by all reverse mortgage lenders. However, it is not […]

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Ever since the economy careened off the proverbial cliff at the end of 2007 and we began slogging our way through the ever persistent Great Recession, FHA insured reverse mortgages are virtually the ONLY kind of reverse mortgage still available in the market place today. The majority of the alternative products that existed before 2008 […]

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Atlanta real estate expert, John Adams, discusses FHA Reverse Mortgages in this television segment which aired on Fox News Atlanta. Mr. Adams explains some of the reasons seniors may wish to tap into their home equity by using the government insured FHA HECM Reverse Mortgage. During the interview, Mr. Adams refers to a free report […]

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Can I Get a Reverse Mortgage If My Home Is In a Trust? This question comes up quite often when speaking with seniors considering accessing home equity through a reverse mortgage. Many people in or approaching retirement have worked with a financial adviser or trust attorney for overall estate and retirement planning advice. Often times, […]

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A common question from folks considering a reverse mortgage is; “Do I still own my home if I get a reverse mortgage?” The answer is YES! You own your home, your name remains on the title to your home. The reverse mortgage lender simply has a lien on your home the same way the lender […]

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Can I get a reverse mortgage if I still owe money on my home? Or, “What if my home isn’t free and clear, am I still eligible for a reverse mortgage?” The answer is…”It depends.” If your mortgage balance is relatively small in comparison to the value of your home, then more than likely the […]

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