There are a few eligibility requirements to qualify for a reverse mortgage. The biggest one is being 62 years of age or older. Another is that you must live in your primary residence — the one you are taking the reverse mortgage out on — for most of the year. A point of confusion for many is if they are eligible if they still owe money on their house. In today’s blog, Family Home Loan Texas answers this question and discusses other important details to know about reverse mortgages. (more…)

It has undoubtedly been a whirlwind of a year, and many of us are eagerly awaiting 2022. With that said, we are facing immense amounts of uncertainty, especially when it comes to finances. Because of this, it is important to take stock of your current financial situation and goals and see how you can meet them. If you are 62 years or older, a reverse mortgage could be a great way to gain the freedom to see your goals through and live comfortably — even amidst the uncertainty. In today’s blog, Family Home Loan Texas discusses how a reverse mortgage can factor into your financial planning for 2022.  (more…)

It has undoubtedly been a whirlwind of a year, and many of us are eagerly awaiting 2022. With that said, we are facing immense amounts of uncertainty, especially when it comes to finances. Because of this, it is important to take stock of your current financial situation and goals and see how you can meet them. If you are 62 years or older, a reverse mortgage could be a great way to gain the freedom to see your goals through and live comfortably — even amidst the uncertainty. In today’s blog, Family Home Loan Texas discusses how a reverse mortgage can factor into your financial planning for 2022.  (more…)

Selling a house is a big undertaking. It requires a lot of planning and patience, but for those that need it, it is well worth it in order to find a more appropriate home. For those who already have a reverse mortgage on their home, selling is quite a bit more complicated. In today’s blog, Family Home Loan Texas discusses what to expect when selling a home with a reverse mortgage.  (more…)

Selling a house is a big undertaking. It requires a lot of planning and patience, but for those that need it, it is well worth it in order to find a more appropriate home. For those who already have a reverse mortgage on their home, selling is quite a bit more complicated. In today’s blog, Family Home Loan Texas discusses what to expect when selling a home with a reverse mortgage.  (more…)

Although they can be exceedingly helpful tools, reverse mortgages have gotten a bad reputation over the years. While aspects of common criticisms are sometimes based on truth, many corrections have been made over recent years, and the vast majority of issues stem from miscommunications and poor optics. In today’s blog, Family Home Loan Texas discusses some reasons why reverse mortgages have a bad reputation and sheds the light on misconceptions. (more…)

A reverse mortgage is an excellent way to free up funds by borrowing against the equity you have built up in your home. While it is a helpful tool and can allow you to cover large expenses, it is still a loan — one that you will eventually have to pay back with interest. Luckily, similar to traditional mortgages, you can refinance your reverse mortgage to take advantage of lower interest rates. In today’s blog, Family Home Loan Texas discusses what you need to know about refinancing your reverse mortgage.  (more…)

A reverse mortgage can be a fantastic way to free up money once you become 62 years old. For those who have close to full equity in their home, receiving one can alleviate lots of anxiety about finances. That said, before starting the process, you should educate yourself on everything that it entails. In today’s blog, Family Home Loan Texas discusses the things you need to consider before getting a reverse mortgage.

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