When it comes to home loans —and real estate in general — there is a mind-boggling amount of acronyms. From FHA to ABR to ROI to dozens more, it is understandable if you feel overwhelmed by all the jargon. This can admittedly make learning about home loans and owning property difficult, which is why it… Read more »
A little known-fact about reverse mortgages is that they are highly regulated by the federal government. Given the immense amount of misinformation surrounding these loans, this might come as a surprise. In reality, the Consumer Financial Protection Bureau (CFPB) provides a lot of helpful information about reverse mortgages, so anyone who is interested in them… Read more »
If your parents have mentioned they are considering a reverse mortgage, you probably have some questions. People who are still relatively young don’t have much reason to be familiar with these loans, and often when they do, they might have a negative impression. After all, there is quite a lot of misinformation surrounding them, and… Read more »
There are numerous reverse mortgage myths out there, and one of the most persisting ones is that these loans are predatory and take advantage of those who need money in their older age. This is patently false; not only are these loans helpful and their terms transparent, but those who are interested must meet with… Read more »
A reverse mortgage is helpful for many because it helps provide financial flexibility. It turns the equity you’ve built in your home into spendable, liquid funds. When you qualify for one, you can not only choose how you receive your money but you can also spend it on pretty much anything you’d like. This makes… Read more »
There are lots of myths surrounding reverse mortgages. They have been demonized for years and the misinformation surrounding them continues to mount. In reality, they are really helpful tools that have little to no downside for those who qualify. One of the most persistent myths about reverse mortgages is that you can lose your home… Read more »
Reverse mortgages can be immensely helpful for those aged 62 years or older. They can free up the necessary funds so individuals can live out their retirement on their own terms and worry less about financial issues. While many can benefit from these loans, significant stigmas surround them. These are mostly rooted in misinformation and… Read more »
It is well known that people take out reverse mortgages on their homes to receive money. They are a helpful tool for those aged 62 years or older and need funds to live their lives to the fullest. However, not many people know that you can receive this money in several different ways. Everyone has… Read more »
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… Read 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… Read more »
