Posts Tagged ‘Reverse Mortgage’
Why reverse mortgages are not just for the rich
For many years reverse mortgages were broadly considered a loan of last resort. But as these financial vehicles have become more mainstream, and financial advisors have begun giving them a second look, a new criticism has emerged: they are yet another way for the rich to get richer. Neither categorization is entirely accurate. However, looking at them…
Read MoreA non-borrowing spouse guide to Reverse Mortgage
Although couples typically take out a reverse mortgage loan together, there are some circumstances in which one spouse does not meet the eligibility requirements of the loan. In these cases, the eligible spouse may take the reverse mortgage loan in their name alone. While the borrowing spouse is living and upholding the terms of the loan, this arrangement allows…
Read MoreWhy Reverse Mortgages are so misunderstood
While reverse mortgages have been around for decades, many people still don’t understand how they work. This confusion can lead to people dismissing them as a viable financial option, without really taking the time to learn more and separate the myths from the realities. While it’s difficult to pinpoint where the misconceptions came from, we’ve compiled…
Read MoreCash-Out Refi Versus Reverse Mortgage
What Is a Cash-Out Refi? The process for a cash-out refi is similar to refinancing an existing traditional mortgage. In a traditional refi, the borrower pays off an existing mortgage loan and secures a new loan. The terms are different from the original loan, likely with a lower interest rate, shorter term, or both. In…
Read MoreCommon Reverse Mortgage Questions
What is a Reverse Mortgage? A Reverse Mortgage enables Senior’s age 62 and older to convert a portion of the equity in their home into tax-free proceeds without giving up ownership or ever making a mortgage payment while in their home. It is a non-recourse loan which means if the loan amount ever were to…
Read MoreCommunity Connections Interview with Prescott Valley Chamber of Commerce
Thank you to the Prescott Valley Chamber of Commerce and Marnie Uhl for having us on Community Connections to share more info on Reverse Mortgages. Watch the full interview with Traci Ranic and Marnie Uhl of Prescott Valley Chamber of Commerce HERE Register for the next Reverse Mortgage Lunch & Learn on June 20th, 2023: https://www.arizonareversemortgages.net/events/…
Read MoreReverse Mortgage Lunch and Learn Fun!
We had a great time helping, education and answering questions for our guests at the last Reverse Mortgage Lunch & Learn! Thank you to everyone that joined us, and thank you to Kimberly Marsh Photography for these fun photos. If you would like to join us at the next one on November 15th, you can…
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