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On the House: Good, bad of reverse mortgages

Home-equity conversion mortgages (HECMs ... There are pluses to reverse mortgages: How you get the money is your choice - fixed monthly payment, lump sum, credit line, or a combination. You can change ... read more

The Mortgage Is Dead; Long Live The (Reverse) Mortgage

(I use these little tidbits to rationalize my choice ... your heirs can arrange for a new mortgage - they can keep the home, but the reverse mortgage will have to be paid. Most reverse mortgages are o... read more

What's the Best College Saving Strategy When You Have Young Kids?

You could have both types of accounts to cover all your bases. Whatever your choice, ideally you'd open a separate account ... Only 5.64 percent of a parent's assets (excluding retirement accounts and ... read more

MetLife Bank introduces reverse mortgage that could save homeowners thousands

There's good news for homeowners age 62 and older who are looking to achieve greater financial flexibility: MetLife Bank has recently introduced the HECM Saver, a government-insured Home Equity Conver... read more

Reverse Mortgage: What Is It and How It Works

(TNS)—Reverse mortgages have become the cash-strapped homeowner’s financial planning tool of choice. The first Federal ... It’s also known as a home equity conversion mortgage, or HECM. Don’t plan to ... read more

Reverse mortgages and their alternatives

Home equity represents about 70 percent of the total assets of middle-income retirees, not counting Social Security and pension benefits. Many people, even those who hope to leave their house to their ... read more

7 Tips When Considering a Reverse Mortgage

The loan is repaid when you die, sell your home or when your home is no longer the ... are insured by the Federal Housing Administration as part of its Home Equity Conversion Mortgage (HECM) program, ... read more

HUD’s equity conversion mortgage like a ‘home pension’

The home equity conversion mortgage ... HUD is charged with oversight and implements improvements to the HECM. The HECM is the reverse mortgage product of choice. It’s federally insured, continues to ... read more

Reverse mortgage pros and cons for homeowners

That insurance protects you in the event that your house is worth less than the loan value when it comes due. With a Federal Housing Administration home equity conversion mortgage, or HECM, which incl... read more

Can This New Reverse Mortgage Alternative Help You?

In essence, with a reverse mortgage, you are selling the equity in your home back to a lender in increments. The majority of reverse mortgages are Federal Housing Administration (FHA) loans under the ... read more