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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

Reverse Mortgage: What Is It and How It Works

(TNS)—Reverse mortgages have become the cash-strapped homeowner’s financial planning tool of choice ... your home equity,” advises Cook. “Liquidate your portfolio and cut down on your living expenses. ... 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

How Does A Reverse Mortgage Work?

When people are younger and think of cashing in on their home equity ... of a HECM loan – the lending limit. In general, the older you are, the more valuable your home and the more equity you have it, ... 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

FHA and Fannie Mae offer seniors different types of reverse mortgage

a home equity loan does not necessarily become due when you vacate your property (for example, by moving into a long-term care facility). You should take advantage of homebuyer education, available th... 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

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

Whatever your choice, ideally, you’d open a separate account for each ... Only 5.64 percent of a parent’s assets (excluding retirement accounts and home equity, which are not counted at all) are consi... read more

The Risks Of Reverse Mortgages

Why might a HECM not enable them to stay in the home? Maybe because they can no longer afford a mansion in a high cost of living area even with no mortgage payments or perhaps they need to access home ... read more