Personal Finance Blog By MoneyRates - Reverse Mortgage
Are HECM Reverse Mortgages Too Cheap?
February 16, 2010
Reverse mortgages have been getting some good press of late. Jack Guttentag, for instance, a.k.a. "The Mortgage Professor," has spent a couple thousand words over the past couple weeks ripping into reverse mortgage fear mongers who claim that reverse mortgages are a rip-off. Guttentag's latest column, titled "More Bogus Arguments Against the Reverse Mortgage," includes an [...]
Reverse Mortgage Scammers Being Driven Out of the Industry
November 3, 2009
Like cockroaches scattering when you turn on the lights, reverse mortgage scammers are running scared. This migration is partly due to laws and lawmakers intent on preventing reverse mortgage scams, and perhaps more largely based on the ready availability of honest, comprehensive reverse mortgage information on the Internet. Reverse Mortgage Protective Measures The most popular form of reverse [...]
Reverse Mortgages and Health Care Costs
October 13, 2009
We have blogged before about the increasing popularity of reverse mortages. Reverse mortgages allow homeowners to be paid out the equity in their homes through a lump sum or a monthly payment. Instead of making a house payment, your house makes you a payment. The most common form of reverse mortgage, insured by the U.S. government and [...]
Lower Interest Rates Make Reverse Mortgages More Attractive
March 26, 2009
A reverse mortgage allows senior citizens, of at least the age of 62, to convert equity from their principal residence to cash. Similar to a normal mortgage, lower interest rates help make the mortgage more affordable. The Federal Reserve's significant pledge to buy more than a $1 trillion worth of mortgages securities is expected to [...]
