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Reverse Mortgages

Clearing Up Common Misinformation
About Reverse Mortgages

Michael Lazar | Posted 11.08.2015 | Fifty
Michael Lazar

There's a lot of misinformation going around about reverse mortgages. We aim to set the record straight.   Misinformation: The Lender Owns My ...

How to Select the HECM Reverse Mortgage Lender With the Best Deal

Jack M. Guttentag | Posted 11.02.2015 | Business
Jack M. Guttentag

It is possible for a senior to safely navigate the highly dysfunctional reverse mortgage market. Step one is to choose the combination of reverse mortgage features that best meets your needs. Step two is to find the lender offering the best deal on the particular HECM you have selected.

Understanding Reverse Mortgages: Beware of Misleading Ads

Jim T. Miller | Posted 10.26.2015 | Fifty
Jim T. Miller

When it comes to celebrity spokespeople pitching reverse mortgages on TV, don't believe everything you hear. Many of these ads are misleading and don't always give you the whole story.

7 Ways To Determine If A Reverse Mortgage
Is Right For You

Michael Lazar | Posted 10.16.2015 | Fifty
Michael Lazar

A reverse mortgage is a creative way to refinance your home's existing equity; if you meet the age requirements of 62 and own your home with a low payoff balance. But how do you know if one is right for you?

Can Single Persons Reclaim Control of Finances With A Reverse Mortgage?

Michael Lazar | Posted 10.12.2015 | Fifty
Michael Lazar

If you are single, over the age of 62 and are struggling with your retirement plan and you own your own home, you can actually take out what is called a reverse mortgage to get things back in order.

Sunshine State Spotlight: Rise In Reverse Mortgages Set Example For The Rest Of The Country

Buck Wargo | Posted 08.07.2015 | Fifty
Buck Wargo

With the economy recovering from the Great Recession and home values rising in Florida, Donna Linton says all of this is paving the way for more people in her home state to turn to reverse mortgages, including those who want to use them to take their dream vacations.

6 Reverse Mortgage Tips To Rely On When Shopping Lenders

Michael Lazar | Posted 06.28.2015 | Fifty
Michael Lazar

A reverse mortgage is a viable proposition for homeowners age 62 and over. It allows them to access their available home equity while still holding the title to their home. The extra income can be used as the borrower sees fit, from remodels to medical bills or just to meet monthly obligations.

Reverse Mortgages: An Understanding Of The Risks

Andrew Lieb | Posted 06.18.2015 | Business
Andrew Lieb

This month, the Consumer Financial Protection Bureau (CFPB) published the article A closer look at reverse mortgage advertisements and consumer risks, which examines its study of advertisements for this product to older homeowners.

Reverse Mortgage Legislation Advances

Jeff Kelly Lowenstein | Posted 05.01.2015 | Chicago
Jeff Kelly Lowenstein

At a very basic level, those of us who do investigative journalism want our work to make an impact. Many times this does not happen for all kinds of reasons.

Pros and Cons of Reverse Mortgages

Jason Alderman | Posted 03.23.2015 | Money
Jason Alderman

Over the last decade, reverse mortgages have been aggressively pitched in TV ads as an easy way for seniors to cash in their home equity to pay for living expenses. However, for many, improper use of the product -- such as pulling all their cash out at one time -- has led to significant financial problems later, including foreclosure.

When Even Wealthy Homeowners Are Using Reverse Mortgages, The Question Is: Why Aren't You?

Buck Wargo | Posted 12.08.2014 | Fifty
Buck Wargo

The headlines are stark when it comes to the retirement of Americans. One quarter of those 50 to 64 have not saved a penny, and 14 percent of those 65 and older are in the same predicament.

How Reverse Mortgages Work in 2014

Jim T. Miller | Posted 06.14.2014 | Fifty
Jim T. Miller

Tighter rules on reverse mortgages that have recently gone into affect have made them harder to get, especially for seniors with heavy debt problems.

Breaking the Logjam on HECM Reverse Mortgages (Pt. I)

Jack M. Guttentag | Posted 11.11.2014 | Fifty
Jack M. Guttentag

People reaching retirement age are living longer than ever, and retiring with less capacity to maintain their living standards. With good reason, this situation has been termed a "retirement funds crisis."

Never Too Early to Review Long-Term Care Options

Wm. Scott Page | Posted 12.23.2012 | Money
Wm. Scott Page

Imagine having to figure out a way to pay $5,000 per month for a period of five or more years -- during a time when, by definition, you will not be working. That's at least $300,000 worth of care, and it's a real issue for millions of boomers who are careening toward retirement at a growing pace.

Should You Refinance Near Retirement?

Posted 09.08.2012 | Fifty

SPECIAL FROM U.S. NEWS & WORLD REPORT By Joe Udo Mortgage rates are near historical lows. But should you refinance if you are near retirement? I...

Understanding Reverse Mortgages

Jim T. Miller | Posted 10.09.2012 | Money
Jim T. Miller

For seniors that are house rich but cash poor, a reverse mortgage is a viable option, but there's a lot to know and consider to be sure it's a good choice for you. Here are some tips and tools to help you research this complex financial product.

Ben Hallman

Seniors Scammed As Reverse Mortgage Foreclosures On The Rise | Ben Hallman | Posted 06.27.2012 | Business

Reverse mortgages, a lifeline for seniors struggling to pay bills in allowing them to turn home equity into cash, are entering into foreclosure at an ...

Risky Mistake More Boomers Are Making

Loren Berlin | Posted 03.20.2012 | Money

Here's another grim sign for boomers looking ahead to retirement. More of them are tapping into their home's equity to take out so-called reverse m...

A Mortgage Horror Story

Ann Brenoff | Posted 03.18.2012 | Fifty
Ann Brenoff

Temporary relief for a temporary situation; isn't that precisely what the loan modification is suppose to address?

90-Year-Old Miami-Dade Woman Faces Foreclosure

Posted 02.12.2012 | Miami

A 90-year-old woman in Southwest Miami-Dade is facing foreclosure on the modest home she's lived in for about 57 years, reports WSVN. "Where am I ...

Brewing Nightmare: Foreclosures on Seniors' Reverse Mortgages

Mark Miller | Posted 05.25.2011 | Business
Mark Miller

Reverse mortgage loans, which allow seniors to convert home equity into cash, have become more popular in recent years. But now, the government regulators are dealing with a potential nightmare.

Business Financing Has Unexpected Alternatives

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

Borrowers who were seeking creative financing raised my antennae when I was in the lending business.

Shahien Nasiripour

Reverse Mortgages Are "Subprime Revisited," Says Consumer Law Group | Shahien Nasiripour | Posted 05.25.2011 | Business

Many of the now-discredited practices that enabled the subprime mortgage market to boom and then bust have reappeared in the reverse mortgage business...