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Purchasing a home is one of the best investments you can make, and as the value of your home increases, you can use that growing wealth without having to sell the home. Two popular options for accessing that equity are a reverse mortgage and a Home Equity Line of Credit (HELOC). But which one is […]

One of the most attractive features of a reverse mortgage loan is that it does not require monthly mortgage payments to pay it back. This can help free up a significant amount of cash for retirees who may be struggling to make ends meet.   But a reverse mortgage is a loan, which means it will […]

Navigating the complex landscape of retirement planning is key for those looking to maximize their cash flow and financial security in their golden years.  One of the key considerations for retirees is the impact of state taxes on their retirement income. The United States presents a diverse tax landscape, with certain states standing out as […]

How Does a Reverse Mortgage Work in Pennsylvania? A reverse mortgage is a financial solution designed for homeowners who are 62 years of age or older. This innovative arrangement reverses the traditional mortgage dynamic, enabling homeowners to access the equity in their homes without the need for monthly repayments. The predominant form of reverse mortgage […]

Navigating the landscape of financial options in retirement can be complex, and one of the most discussed yet misunderstood options is the reverse mortgage.   This unique financial product allows older homeowners to convert part of their home equity into cash, providing financial relief without the obligation of monthly mortgage payments.   However, like any significant financial […]

HECM Monthly Adj. 1Y CMT 5 CAP – (US Treasury) Principal Limit Utilization *All files are over-disclosed to max premium for given margin at application* Margin Initial Rate Exp. Rate 0-10% 10.01-20% 20.01-30% 30.01-40% 40.01-50% 50.01-60% 60.01-70% 70.01-80% 80.01-90% 90.01-100% 3.000% 8.170% 7.630% 112.125 109.250 107.750 105.500 104.875 105.000 104.125 103.750 103.375 103.375 2.875% 8.045% […]

Understanding Reverse Mortgages in North Carolina Reverse mortgages are home loans only available to homeowners 62 years of age or older. The most common type of reverse mortgage is the home equity conversion mortgage (HECM), which is backed by the federal government through the U.S. Department of Housing and Urban Development (HUD) and the Federal […]

Michigan Reverse Mortgage Information A reverse mortgage is a loan that enables homeowners, typically aged 62 and above, to convert a portion of their home equity into cash. This home loan is unique because, unlike traditional mortgages, it doesn’t require the homeowner to make monthly payments to the lender. The most common type of reverse […]

Inheriting a house can be an amazing gift, but it can also come with complications. On the one hand, you have acquired an asset that can provide financial stability for you and your family. On the other hand, you may also inherit any outstanding debts or mortgages associated with the property. If you inherited a […]