Imagine the bank depositing monthly checks into your account instead of you writing a mortgage check. That is one way a reverse mortgage can work. Traditional mortgages involve people paying down the interest and principal on a home loan. The goal is generally to pay off the property and enjoy retirement without that monthly installment. […]
If you’re a homeowner who is looking to tap into the home equity that you’ve spent years building, you may be interested in a reverse mortgage also called the HECM ( home equity conversion mortgage.) While these unique financial tools aren’t for everyone, if you qualify for a reverse mortgage you’ll find that this might […]
There is always uncertainty in the market in an election year, but many people are wondering exactly what kind of impact Donald Trump’s election will have on their mortgage and the real estate options available. Here are some possibilities for the mortgage market following the results of the 2016 election.
If you’re a homeowner who is looking to tap in to the home equity that you’ve spent years building you may be interested in a “reverse mortgage” or “home equity conversion mortgage”. Let’s take a closer look at how reverse mortgages work, including how to qualify, what happens to your existing mortgage and what a reverse mortgage might cost.
Each year around April, we can find ourselves becoming a little more tense at the thought of what is about to occur: tax time.