Most people think reverse mortgages are only for homeowners who want to stay put. But did you know you can actually use a reverse mortgage to buy a new home? It’s called a Home Equity Conversion Mortgage for Purchase (HECM for Purchase) — and it could be one of the smartest ways to right-size your […]
If you’re thinking about a reverse mortgage, chances are you’re not just thinking about yourself — you’re thinking about what happens after you’re gone. The good news? A reverse mortgage doesn’t erase your legacy — it can actually help preserve it, if planned wisely. Let’s walk through what happens step-by-step when the borrower passes away,
Reverse mortgages have helped millions of older homeowners enjoy retirement with more freedom, less stress, and greater financial control. And yet… there’s still a lot of confusion out there. Let’s clear the air. These are the most common myths we hear — and the facts that help set the record straight. Myth #1: The Bank
Let’s clear this up right now: Yes. You still own your home. One of the most common myths about reverse mortgages is that the bank “takes your house.” That is absolutely false. With a reverse mortgage, you retain full ownership and title — just like you would with a traditional mortgage. The difference is simply
You’ve built equity in your home — now you’re wondering what it’s actually worth to you. With a reverse mortgage, you can convert a portion of that equity into tax-free cash. But how much can you access? And what affects the final number? Let’s break it down. There’s No One-Size-Fits-All Number The amount you can
As a homeowner, your equity is a powerful tool. But when it’s time to tap into it — especially in retirement — how you access that equity can make all the difference. Two of the most common options? A Reverse Mortgage and a Home Equity Line of Credit (HELOC). While they might seem similar on
Not everyone can get a reverse mortgage — and that’s a good thing. This unique loan is designed for a specific stage of life, with safeguards to ensure it supports the people it was meant to help. If you’re curious whether you or a loved one qualifies, here’s exactly what lenders look for — and
If you’re 62 or older and own your home, a reverse mortgage might be the financial tool you didn’t know you needed. It’s not a scam. It’s not giving your house away. It’s a strategic way to access the wealth in your home — without selling it or making monthly payments. Here’s what you need