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HELOC or HECM, what's your choice?

But what many people don't know is that sometimes, for those who've reached the qualifying age of 62, a HECM can be a much better way to access home equity, especially if you're looking to retire and ... read more

Home Economics: Do your homework before getting a reverse mortgage

Advantages to reverse mortgages include: How you get the money is your choice ... a home-equity loan or line of credit may be a less-expensive alternative to a reverse mortgage, which can have ... read more

Reverse Mortgage

The HECM represents almost all of the reverse mortgages lenders offer on home values below $679,650 and is the type you’re most likely to get, so that’s the type this article will discuss. If your ... ... 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 ... read more

Understand a reverse mortgage | Szymanski

There is a lifeline for elderly folks 62 and older who just need a little help to hold onto and remain in their home - a "Home Equity Conversion Mortgage" (HECM), otherwise known ... Whatever your ... read more

Can You Refinance a Reverse Mortgage?

This can be a helpful way to supplement your retirement income, but it subtracts equity from your home. Home Equity Conversion Mortgages, also known as HECMs, are insured by the Federal Housing ... read more

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

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 ... read more

The best approach to financing a home remodel

Paying for a home remodel with a personal loan is often the best choice if you can't claim a tax break for home equity loan debt and you don't want to jeopardize your house. If you're confident you ... read more

FINRA's Stance On Reverse Mortgages

First, weigh all your options. Besides a reverse mortgage, other options include selling one’s house to downsize or rent, using a home-equity line of credit, or seeking local ... is generally not the ... 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

Can You Refinance a Reverse Mortgage?

Types of Reverse Mortgages A few kinds of reverse mortgages are available: Home Equity Conversion Mortgages, also known as HECMs, are insured by the Federal Housing Administration. HECM for ... may be ... read more