When homeowners reach the age of 62, they become eligible for a type of loan known as a reverse mortgage. In addition to the traditional Home Equity Conversion Loan (HECM), Texas residents can now also enjoy access to Equity Elite and Equity Elite Zero loans. What these loans do for people varies by their needs—for… Read more »
Do you really have the right idea about reverse mortgages? Myths around what they “actually” require can lead eligible borrowers to miss out on important financial support as they near retirement age. Fortunately, you can count on FHL Texas to clear up misinformation and provide more details on what these loans can actually do for… Read more »
Homeowners who near retirement age can benefit from finding more sources for financial support. Many will qualify for a reverse mortgage when they reach the age of 62, which means they can rely on the equity in their home to make money they can spend. What stops people who qualify from moving forward with this… Read more »
Retirement planning should take place years before you actually reach the point where you are ready to stop working. Saving money and investing wisely will help you grow your nest egg and enjoy a comfortable life away from the office. For homeowners who qualify, a reverse mortgage can also be a welcome form of retirement… Read more »
When you reach the age of 62, and your mortgage status makes you eligible, you can take advantage of the equity in your home through a reverse mortgage. Homeowners take advantage of this for different reasons: Many will look to it as a way to support their retirement, but it can also help with home… Read more »
By securing a reverse mortgage, you will be able to secure significant money and see direct value from your home equity. Borrowers who meet the qualifications for this kind of loan can enjoy extra retirement support as well as assistance with monthly costs, savings to take on unexpected costs, and even the necessary finances to… Read more »
There are certain qualifications that need to be in place before you can seek a reverse mortgage. Borrowers need to be at least 62 to be eligible. While it is not necessary to own your property outright, you do need to have at least 50% equity in it and be prepared to pay off the… Read more »
While your post-retirement life is a great time to travel, it is also a smart time to think about how to make your home as comfortable as possible. In addition to having more time to yourself, you can start thinking about how you can ensure your living space will still accommodate you in later years…. Read more »
By making smart plans and good investments, you can prepare for a comfortable retirement. Unfortunately, even great plans can fall short when you face unexpected expenses after you finish working. For many people, medical bills and long-term care plans can make retirement more costly than anticipated. Fortunately, homeowners who qualify can use a reverse mortgage… Read more »
Once you turn 62, you reach the age of eligibility for pursuing a reverse mortgage. For many people, this means finally having the opportunity to turn home equity into something that offers a more accessible kind of financial support. However, it may not be an appealing option for everyone. One reason for this is that… Read more »
