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The Mortgage Professor: Finding the best deal on an HECM reverse mortgage

The best deal on a mortgage is usually defined in terms of the interest rate and origination fee charged the borrower. That was my approach in a previous column on the subject. I recently realized, ho... read more

The Mortgage Professor: Borrower decisions on a HECM reverse mortgages

Borrowers in the forward-mortgage market make similar decisions. There are no points on HECM reverse mortgages, only origination fees, which are a flat dollar amount. That makes the decision on the be... read more

JACK GUTTENTAG: Shopping for the best HECM Reverse Mortgage deal

Can You Shop For the Best Deal on a HECM Reverse Mortgage? You can if you know exactly what you want, and exactly where to find it. This article is designed ... The writer is professor of finance emer... read more

The Mortgage Professor: Why small home mortgage loans are hard to find

The best option for residents ... prices are very low and mortgage loans are not available. In the 1920s, before the Federal Government entered the marketplace, many mortgage loans had 5-year terms. L... read more

Reverse mortgages: Are they worth it?

You must be 62 or older to take out a reverse mortgage and the amount you can borrow depends on your age, interest rate and the value of your home. Under the Department of Housing and Urban Developmen... read more

THE MORTGAGE PROFESSOR: A new tool for tracking a HECM reverse mortgage

HECM borrowers have other options, however, which are unique to HECMs and may not be known or fully understood. If they took a monthly payment, as Sheila did and find later ... fence to take the rever... read more

Using a reverse mortgage to pay off your first mortgage

Reverse mortgages have gained a somewhat dubious reputation over the years, but they can be a useful financial tool for seniors when used appropriately, says David Johnson, associate professor ... a r... read more

Should Retirees Buy a Home With a Reverse Mortgage?

But there's another opportunity, often overlooked: Get a reverse mortgage on ... But with the HECM, there is no income requirement or credit check. Generally, borrowers get fixed-rate loans and can ch... read more

Changes in reverse mortgages give advisers new tools in retirement planning

She owned her home free and clear with no monthly mortgage ... “What's the Deal with Reverse Mortgages” (People Tested Media, 2015). “If the first impulse is to counsel clients to wait until the portf... read more

Consider new uses of reverse mortgages for clients

“We in the reverse-mortgage lending industry find financial advisers are ... and Shaun Pfeiffer, a professor of personal finance at Edinboro University. “Our study considers using a HECM Saver reverse ... read more

Union Home and Alliance Deal; Reverse Mortgage Changes; Fed Speeches This Week

In many instances, reverse mortgage borrowers “walk away” from a reverse mortgage with equity! (More below on reverse lending development and law changes.) FHA has released Version 2.5 of the Home Equ... read more