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

Portland, Maine, was the birthplace of the reverse mortgage. The year was 1961, and Deering Savings and Loan was the creator. The original mortgage was designed to help a widow remain in her home afte... read more

Can a reverse mortgage help save an underfunded retirement?

[Read more: What the New Tax Law Means for Reverse Mortgage Borrowers] The reverse mortgage that’s federally backed is a Home Equity Conversion Mortgage. If you’re contemplating getting this type of l... read more

An underutilized retirement strategy

(BPT) - Across the nation, thousands of seniors have used a Home Equity Conversion Mortgage ... are referred to reverse mortgage counseling, an important consumer safeguard mandated by the government. ... read more

3 ways to use your house for retirement income

For example, you can move from a large empty nest to a single-story unit with modern, accessible updates like grab bars in the bathroom ... or check the home equity conversion mortgage pages at Hud.go... read more

How reverse mortgages work as a source of retirement income

If, after your clients have considered other housing options, they decide to remain in an eligible home or to move into a new eligible home, you may want to have them consider a Home Equity Conversion ... read more

Countdown to Retirement: A Five-Year Plan

Retirement was more like a vague, distant concept rather than something ... You might also look at refinancing your mortgage or even opening a home equity line of credit, which will be easier to do wh... read more

Reverse Mortgage: What Is It and How It Works

A reverse mortgage is a type of home equity loan for older homeowners. It does not require monthly mortgage payments. The loan is repaid after the borrower moves out or dies. It’s also known as a home ... read more

How to Turn Your Home Into a Pension

As it turns out, these home equity payments already exist as features of the government's Home Equity Conversion Mortgage, which is insured ... your home into income for life; it can turn your home in... read more

HUD tightens reverse mortgage rules in bid to shield seniors

Major changes are coming to the Department of Housing and Urban Development's reverse mortgage loan program as the agency seeks to shore up its finances and better protect seniors. The Home Equity Con... read more

How Do Reverse Mortgages Work?

The most common type of reverse mortgage is known as the Home Equity Conversion Mortgage, or HECM for short. These mortgages are backed by the U.S. Department of Housing and Urban Development (HUD ... ... read more

Becoming Your Parents' Mortgage Lender

They receive Social Security and a modest pension. We would like to assist them financially ... There are a number of reverse-mortgage programs available. Among the the most popular is the home-equity ... read more