Tag Archives: reverse mortgage
Reverse mortgage: Who’s insured?
FHA insurance protects the lender, not the borrower. The FHA insures the lender’s safety, not the borrower’s (or the borrower’s heirs). Continue reading
New rules for reverse mortgages
Senior homeowners who want to cash out equity with a reverse mortgage will have to play by new rules when applying for a loan after the end of this month. Continue reading
Lower reverse mortgage amounts
The FHA is changing the rules for lump-sum payouts. Continue reading
Too young for reverse mortgage?
Reverse mortgages, available to homeowners age 62 and older, are more appealing to younger borrowers than they were a decade ago, according to a study by MetLife Mature Market Institute.
This type of mortgage allows homeowners to borrow against their h… Continue reading
The end of reverse mortgages?
When home values were going up like a rocket, lenders often marketed reverse mortgages as a gateway to financial freedom. Now, some of them want out.
Wells Fargo says it will stop offering reverse mortgages as of June 30. Bank of America stopped offeri… Continue reading