Reverse Mortgage Info

A reverse mortgage is a financial tool, designed by the federal government, to offer relief for homeowners 62 and older. It allows seniors to stay in and keep their home by eliminating their current mortgage payment and give access to their equity - tax-free! Unlike traditional "forward"-type home loans, or second mortgages, no repayment is required until the homeowner, or homeowners, no longer occupies the property as their primary residence.

Maverick Funding Corp. Announces Additional Growth for Reverse Mortgage Network Subsidiary

Former Great Oak Funding CEO Joshua Shein to join Maverick, launch new Maryland branch of RMNParsippany, NJ (PRWEB) February 06, 2012 Maverick Funding Corp. today announced that 40 reverse mortgage loan officers from Baltimore-based Great Oak Funding, including former CEO Joshua Shein, are joining its subsidiary, Reverse Mortgage Network, headquartered in Parsippany, New Jersey.Shein will launch ...

Reverse mortgage may be best option for elderly homeowner

A reverse mortgage would enable an 82-year-old woman who needs cash to tap the substantial equity in her home. Dear Liz: My healthy and active 82-year-old mother is faced with having to sell her home this year because she's running out of money. She has lived a very minimal lifestyle for many years as her savings dwindled, and her income is now basically Social Security. She owes $25,000 on a ...

Firewall bid on seniors' assets

A REVERSE mortgage scheme to protect seniors against a sale of the family home is being considered by the Gillard Government.

Is a reverse mortgage the right choice?

Thursday, February 2 nd , 2012 Issue 05, Volume 16. A reverse mortgage is a loan for senior homeowners over 62 years old that uses some of their home equity as collateral.

Reverse Mortgages: Big Potential, Small Results

Reverse mortgages should be a breakout product of demographic destiny. Millions of older Americans are hurtling toward very uncertain retirements . Survey after survey documents a serious lack of retirement ...

Mortgage Rates Reverse Course on Positive Housing Data

McLEAN, Va., Jan. 26, 2012 /PRNewswire/ -- Freddie Mac (OTC: FMCC.OB - News) today released the results of its Primary Mortgage Market Survey ® (PMMS ® ), showing average mortgage rates climbing as the housing market ...

Spending and Saving Q&A | What is a reverse mortgage?

A reverse mortgage allows you to convert part of the equity in your home into cash without having to sell your home or take on additional monthly bills, according to the Federal Trade Commission.

Reverse Mortgages Return

Lenders are quietly reviving a loan for seniors that helps them convert home equity into cash.

Who Should Do a Reverse Mortgage?

Reverse mortgages allow homeowners of a certain age to draw down on their home's equity in exchange for cash--but it's not always the best financial decision for everyone.

Reverse Mortgage Versus HELOC for Extra Cash?

A reverse mortgage needs to be on your primary residence, and you can't move out of that residence without triggering the payoff of the reverse mortgage.