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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: Finding the best deal on HECM reverse mortgage

The best deal on a mortgage is usually defined ... benefit from the Federally-supported HECM program, it would certify multi-lender sites that make it easy for seniors to find the best available deal. ... read more

‘Mortgage Professor’ to Launch ‘Retirement Income Stabilizer’

The program is being established by Jack Guttentag, a.k.a. “The Mortgage Professor ... HECM as having a great deal of unrealized potential, which is further limited by the HECM program’s losses that p... read more

The Mortgage Professor: Introducing the Kosher HECM Reverse Mortgage

which makes it easy for seniors to find the best deal. —There are no unanticipated surprises down the road that would make the senior regret taking a HECM. —The set of options for drawing funds is the ... read more

What Should Your Clients Look For In A Retirement Plan?

Bottom line, retirees should be sure that the provider of their retirement plan has the means to find the best price on their annuity. If your adviser has a deal ... on a HECM reverse mortgage. 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

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

Fixing the Dysfunctional HECM Reverse Mortgage Market

His site has information on HECMs and includes HECM prices submitted by seven reverse mortgage lenders with whom he has a ... Shopping lenders for the ‘best deal’ in the way that I shopped for a camer... 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

HUD Sued by AARP Over Reverse Mortgage Rule Change

For various reasons and in one case what appears to be lender error none were parties to their spouse's mortgage. Home Equity Conversion Mortgages (HECM), or reverse mortgages, are popular financial p... read more

How Homeowners Can Get a Retirement Savings Boost from Uncle Sam

You have to have a substantial chunk of your mortgage paid off before you can qualify for a HECM. And people in truly dire straits may not be able to qualify for them in the first place. (You can find ... read more

Mortgage Professor: No ‘Deadbeats’ Under New Reverse Mortgage Rules

The upcoming financial assessment will make reverse mortgage borrowers have to prove ... and wait longer for deals to be completed,” says The Mortgage Professor, a.k.a. Jack Guttentag. Nearly a year a... read more